1,660,122 Shares in Cabot Corporation $CBT Purchased by Bank of America Corp DE

Bank of America Corp DE purchased a new position in shares of Cabot Corporation (NYSE:CBT - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,660,122 shares of the specialty chemicals company's stock, valued at approximately $150,772,000. Bank of America Corp DE owned about 3.22% of Cabot as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Parallel Advisors LLC boosted its stake in shares of Cabot by 10.5% during the 1st quarter. Parallel Advisors LLC now owns 1,843 shares of the specialty chemicals company's stock worth $139,000 after acquiring an additional 175 shares during the period. Swiss Life Asset Management Ltd raised its stake in Cabot by 3.6% in the 2nd quarter. Swiss Life Asset Management Ltd now owns 6,147 shares of the specialty chemicals company's stock valued at $558,000 after acquiring an additional 212 shares during the period. Rothschild Investment LLC lifted its holdings in Cabot by 170.4% during the 4th quarter. Rothschild Investment LLC now owns 411 shares of the specialty chemicals company's stock valued at $27,000 after purchasing an additional 259 shares during the last quarter. Allworth Financial LP lifted its holdings in Cabot by 22.4% during the 4th quarter. Allworth Financial LP now owns 1,455 shares of the specialty chemicals company's stock valued at $96,000 after purchasing an additional 266 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in Cabot by 5.1% during the first quarter. Janney Montgomery Scott LLC now owns 6,618 shares of the specialty chemicals company's stock worth $498,000 after purchasing an additional 320 shares during the period. Institutional investors own 93.18% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CBT shares. Weiss Ratings reissued a "hold (c)" rating on shares of Cabot in a research report on Friday, August 21st. Truist Financial set a $100.00 target price on shares of Cabot in a research report on Wednesday, August 5th. Wall Street Zen raised Cabot from a "hold" rating to a "buy" rating in a research note on Sunday, August 9th. JPMorgan Chase & Co. upped their target price on Cabot from $70.00 to $78.00 and gave the stock an "underweight" rating in a research note on Friday, August 7th. Finally, UBS Group decreased their price target on shares of Cabot from $97.00 to $92.00 and set a "neutral" rating on the stock in a report on Wednesday, August 5th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $89.00.

Cabot Stock Performance

Cabot stock opened at $77.57 on Friday. The business has a 50 day moving average of $85.31 and a 200-day moving average of $81.70. The company has a market capitalization of $4.00 billion, a P/E ratio of 21.85, a P/E/G ratio of 10.30 and a beta of 0.83. Cabot Corporation has a 1 year low of $58.33 and a 1 year high of $94.53. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.47 and a quick ratio of 0.97.

Cabot (NYSE:CBT - Get Free Report) last posted its earnings results on Monday, August 3rd. The specialty chemicals company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.66 by $0.01. Cabot had a net margin of 5.23% and a return on equity of 20.29%. The business had revenue of $982.00 million for the quarter, compared to the consensus estimate of $943.16 million. During the same period last year, the company earned $1.90 EPS. The firm's revenue was up 6.4% compared to the same quarter last year. Cabot has set its FY 2026 guidance at 6.150-6.450 EPS. On average, equities research analysts predict that Cabot Corporation will post 6.35 earnings per share for the current year.

Cabot Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Friday, August 28th were issued a dividend of $0.4725 per share. This represents a $1.89 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Friday, August 28th. Cabot's payout ratio is 53.24%.

Insider Activity at Cabot

In related news, CEO Sean Keohane sold 134,895 shares of the business's stock in a transaction on Friday, August 28th. The shares were sold at an average price of $85.00, for a total value of $11,466,075.00. Following the sale, the chief executive officer owned 404,134 shares of the company's stock, valued at $34,351,390. The trade was a 25.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold a total of 229,597 shares of company stock worth $19,646,746 in the last quarter. 3.08% of the stock is currently owned by insiders.

About Cabot

Cabot Corporation NYSE: CBT is a global specialty chemicals and performance materials company. Its products are used by manufacturers in transportation, infrastructure, energy, electronics, consumer goods, and other industrial markets.

Cabot's Reinforcement Materials business produces carbon black and other materials used to reinforce tires, automotive components, industrial rubber products, and plastics. Its Performance Chemicals business supplies specialty carbon blacks, fumed metal oxides, inkjet colorants, conductive compounds, masterbatch products, and related materials used to modify the color, conductivity, strength, durability, and processing characteristics of finished products.

Founded in 1882, Cabot operates research, manufacturing, and commercial facilities serving customers in North America, South America, Europe, Asia, and other international markets.

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