Bank of America Corp DE Has $114.18 Million Holdings in Cabot Corporation $CBT

Key Points

• Bank of America trimmed its Cabot position by 0.9% in the first quarter, selling 13,691 shares but retaining 1.52 million shares worth approximately $114.2 million. Institutional investors and hedge funds collectively own 93.18% of Cabot.
• Analyst sentiment remains cautious, with Cabot carrying a consensus “Hold” rating and an average price target of $89.00. Recent target changes included JPMorgan raising its target to $78 while UBS lowered its target to $92.
• Cabot slightly exceeded quarterly earnings expectations, reporting $1.67 in EPS versus the $1.66 consensus and revenue of $982 million. The company also announced a quarterly dividend of $0.4725 per share, equivalent to a 2.2% annualized yield.

Bank of America Corp DE decreased its position in Cabot Corporation (NYSE:CBT - Free Report) by 0.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,516,178 shares of the specialty chemicals company's stock after selling 13,691 shares during the period. Bank of America Corp DE owned 2.94% of Cabot worth $114,183,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CBT. Fuller & Thaler Asset Management Inc. lifted its position in shares of Cabot by 5.6% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,343,322 shares of the specialty chemicals company's stock worth $155,315,000 after purchasing an additional 124,613 shares in the last quarter. State Street Corp grew its position in shares of Cabot by 1.0% in the fourth quarter. State Street Corp now owns 2,025,589 shares of the specialty chemicals company's stock valued at $134,256,000 after purchasing an additional 20,021 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Cabot by 4.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,742,782 shares of the specialty chemicals company's stock worth $131,253,000 after purchasing an additional 79,499 shares in the last quarter. Sei Investments Co. increased its stake in Cabot by 6.5% during the 1st quarter. Sei Investments Co. now owns 1,051,578 shares of the specialty chemicals company's stock worth $79,194,000 after acquiring an additional 64,122 shares during the period. Finally, AQR Capital Management LLC raised its stake in Cabot by 3.0% in the third quarter. AQR Capital Management LLC now owns 893,760 shares of the specialty chemicals company's stock valued at $67,970,000 after purchasing an additional 25,814 shares in the last quarter. 93.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CBT has been the topic of several recent research reports. Truist Financial set a $100.00 price objective on Cabot in a report on Wednesday. Weiss Ratings reiterated a "hold (c)" rating on shares of Cabot in a report on Tuesday, May 26th. Wall Street Zen lowered Cabot from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. JPMorgan Chase & Co. boosted their target price on shares of Cabot from $70.00 to $78.00 and gave the stock an "underweight" rating in a research report on Friday. Finally, UBS Group cut their price objective on shares of Cabot from $97.00 to $92.00 and set a "neutral" rating on the stock in a report on Wednesday. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Cabot presently has a consensus rating of "Hold" and an average price target of $89.00.

Cabot Stock Performance

Cabot stock opened at $87.69 on Friday. The company has a current ratio of 1.47, a quick ratio of 0.96 and a debt-to-equity ratio of 0.48. Cabot Corporation has a 1-year low of $58.33 and a 1-year high of $94.53. The firm has a market cap of $4.53 billion, a P/E ratio of 24.70, a P/E/G ratio of 11.44 and a beta of 0.84. The firm has a 50-day moving average of $87.92 and a 200-day moving average of $79.87.

Cabot (NYSE:CBT - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The specialty chemicals company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.01. The company had revenue of $982.00 million for the quarter, compared to analyst estimates of $943.16 million. Cabot had a return on equity of 20.29% and a net margin of 5.23%.The firm's revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.90 earnings per share. Cabot has set its FY 2026 guidance at 6.150-6.450 EPS. Sell-side analysts expect that Cabot Corporation will post 6.32 EPS for the current year.

Cabot Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 28th will be paid a dividend of $0.4725 per share. The ex-dividend date is Friday, August 28th. This represents a $1.89 dividend on an annualized basis and a yield of 2.2%. Cabot's dividend payout ratio (DPR) is presently 53.24%.

Cabot Profile

Cabot Corporation is a global specialty chemicals and performance materials company headquartered in Boston, Massachusetts. Founded in 1882 by Godfrey Lowell Cabot, the company has grown into a diversified manufacturer with operations across North America, Europe, Asia and Latin America. Cabot serves a wide range of end markets, including automotive, industrial, energy, and consumer products, supplying essential ingredients that enhance performance, durability and functionality.

The company operates two primary segments: Reinforcement Materials and Performance Materials.

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