Cabot Corporation $CBT Shares Purchased by Russell Investments Group Ltd.

Russell Investments Group Ltd. boosted its holdings in shares of Cabot Corporation (NYSE:CBT) by 84.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 61,657 shares of the specialty chemicals company’s stock after purchasing an additional 28,198 shares during the quarter. Russell Investments Group Ltd.’s holdings in Cabot were worth $5,126,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Copeland Capital Management LLC boosted its position in Cabot by 5.8% during the first quarter. Copeland Capital Management LLC now owns 805,504 shares of the specialty chemicals company’s stock worth $66,970,000 after purchasing an additional 44,132 shares in the last quarter. Northern Trust Corp boosted its position in Cabot by 12.4% during the fourth quarter. Northern Trust Corp now owns 794,477 shares of the specialty chemicals company’s stock worth $72,544,000 after purchasing an additional 87,881 shares in the last quarter. LSV Asset Management boosted its position in Cabot by 318.0% during the first quarter. LSV Asset Management now owns 571,034 shares of the specialty chemicals company’s stock worth $47,476,000 after purchasing an additional 434,434 shares in the last quarter. Millennium Management LLC boosted its position in Cabot by 67.7% during the fourth quarter. Millennium Management LLC now owns 349,369 shares of the specialty chemicals company’s stock worth $31,901,000 after purchasing an additional 141,050 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in Cabot by 1.5% during the fourth quarter. Ameriprise Financial Inc. now owns 214,135 shares of the specialty chemicals company’s stock worth $19,553,000 after purchasing an additional 3,240 shares in the last quarter. Hedge funds and other institutional investors own 93.18% of the company’s stock.

Insider Buying and Selling

In related news, CEO Sean D. Keohane sold 114,436 shares of Cabot stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $79.28, for a total transaction of $9,072,486.08. Following the transaction, the chief executive officer owned 361,518 shares in the company, valued at approximately $28,661,147.04. This trade represents a 24.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 3.03% of the company’s stock.

Wall Street Analysts Forecast Growth

CBT has been the topic of a number of recent analyst reports. UBS Group set a $82.00 price target on Cabot and gave the stock a “neutral” rating in a research report on Tuesday, August 5th. Wall Street Zen lowered Cabot from a “buy” rating to a “hold” rating in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $92.33.

Cabot Stock Performance

Shares of Cabot stock opened at $79.09 on Friday. Cabot Corporation has a one year low of $70.40 and a one year high of $117.46. The company has a market cap of $4.21 billion, a price-to-earnings ratio of 10.34 and a beta of 0.87. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.41 and a current ratio of 2.13. The business’s 50 day moving average price is $76.52 and its 200 day moving average price is $78.96.

Cabot (NYSE:CBT) last announced its quarterly earnings data on Monday, August 4th. The specialty chemicals company reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.80 by $0.10. Cabot had a return on equity of 25.68% and a net margin of 11.14%.The firm had revenue of $923.00 million for the quarter, compared to the consensus estimate of $957.29 million. Cabot has set its FY 2025 guidance at 7.150-7.500 EPS. On average, research analysts predict that Cabot Corporation will post 7.57 EPS for the current year.

Cabot Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Friday, August 29th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. Cabot’s payout ratio is 23.53%.

About Cabot

Cabot Corporation operates as a specialty chemicals and performance materials company. The company operates through two segments, Reinforcement Materials and Performance Chemicals. It offers reinforcing carbons that are used in tires as a rubber reinforcing agent and performance additive, as well as in industrial products, such as hoses, belts, extruded profiles, and molded goods; and engineered elastomer composites solutions.