American Century Companies Inc. Acquires 174,921 Shares of Cabot Corporation $CBT

Key Points

• American Century Companies Inc. increased its stake in Cabot Corporation by 13.2%, purchasing an additional 174,921 shares, bringing its total to 1,498,268 shares valued at approximately $124.57 million.
• Multiple hedge funds boosted their holdings in Cabot, with LSV Asset Management notably increasing its stake by 318.0% in the first quarter.
• Cabot Corporation announced a quarterly dividend of $0.45 per share, payable on September 11th, which represents an annualized yield of 2.3% and a payout ratio of 23.53%.

American Century Companies Inc. lifted its holdings in shares of Cabot Corporation (NYSE:CBT - Free Report) by 13.2% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,498,268 shares of the specialty chemicals company's stock after purchasing an additional 174,921 shares during the period. American Century Companies Inc. owned 2.76% of Cabot worth $124,566,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CBT. Bank of Montreal Can lifted its stake in shares of Cabot by 6.3% during the fourth quarter. Bank of Montreal Can now owns 10,445 shares of the specialty chemicals company's stock valued at $954,000 after acquiring an additional 622 shares during the period. Renaissance Technologies LLC lifted its position in shares of Cabot by 197.7% in the fourth quarter. Renaissance Technologies LLC now owns 65,800 shares of the specialty chemicals company's stock valued at $6,008,000 after buying an additional 43,700 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Cabot during the 4th quarter worth approximately $5,057,000. Barclays PLC lifted its holdings in Cabot by 38.1% during the 4th quarter. Barclays PLC now owns 156,908 shares of the specialty chemicals company's stock worth $14,327,000 after purchasing an additional 43,294 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in Cabot by 3,242.5% in the 4th quarter. Marshall Wace LLP now owns 74,338 shares of the specialty chemicals company's stock valued at $6,788,000 after acquiring an additional 72,114 shares in the last quarter. Institutional investors and hedge funds own 93.18% of the company's stock.

Cabot Price Performance

Cabot stock traded down $0.14 during mid-day trading on Thursday, hitting $79.09. The stock had a trading volume of 334,911 shares, compared to its average volume of 426,806. The firm's 50 day moving average is $76.46 and its 200 day moving average is $79.00. Cabot Corporation has a one year low of $70.40 and a one year high of $117.46. The firm has a market capitalization of $4.21 billion, a P/E ratio of 10.34 and a beta of 0.87. The company has a current ratio of 2.13, a quick ratio of 1.41 and a debt-to-equity ratio of 0.66.

Cabot (NYSE:CBT - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The specialty chemicals company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.80 by $0.10. The business had revenue of $923.00 million during the quarter, compared to the consensus estimate of $957.29 million. Cabot had a net margin of 11.14% and a return on equity of 25.68%. Cabot has set its FY 2025 guidance at 7.150-7.500 EPS. On average, sell-side analysts forecast that Cabot Corporation will post 7.57 earnings per share for the current fiscal year.

Cabot Dividend Announcement

The company 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 $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. Cabot's dividend payout ratio (DPR) is currently 23.53%.

Insider Buying and Selling

In other Cabot news, CEO Sean D. Keohane sold 114,436 shares of the company's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $79.28, for a total value of $9,072,486.08. Following the transaction, the chief executive officer directly owned 361,518 shares in the company, valued at $28,661,147.04. This represents a 24.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.03% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

Cabot Profile

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.