Caisse DE Depot ET Placement DU Quebec Purchases 118,266 Shares of Cabot Corporation $CBT

Key Points

• Caisse DE Depot ET Placement DU Quebec increased its stake in Cabot Corporation by 279.2%, owning 160,628 shares valued at approximately $13.4 million.
• Cabot recently reported earnings of $1.90 per share, exceeding analysts' expectations, and revealed a quarterly dividend of $0.45 per share, translating to an annual yield of 2.2%.
• Institutional investors currently hold approximately 93.18% of Cabot's stock, indicative of strong institutional support for the company.

Caisse DE Depot ET Placement DU Quebec raised its stake in shares of Cabot Corporation (NYSE:CBT - Free Report) by 279.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 160,628 shares of the specialty chemicals company's stock after buying an additional 118,266 shares during the period. Caisse DE Depot ET Placement DU Quebec owned about 0.30% of Cabot worth $13,355,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Banque Cantonale Vaudoise acquired a new stake in shares of Cabot in the 1st quarter valued at $43,000. CWM LLC lifted its stake in shares of Cabot by 55.0% in the 1st quarter. CWM LLC now owns 600 shares of the specialty chemicals company's stock valued at $50,000 after purchasing an additional 213 shares during the last quarter. Brooklyn Investment Group lifted its stake in shares of Cabot by 1,553.7% in the 1st quarter. Brooklyn Investment Group now owns 678 shares of the specialty chemicals company's stock valued at $56,000 after purchasing an additional 637 shares during the last quarter. Curat Global LLC acquired a new stake in shares of Cabot in the 1st quarter valued at $83,000. Finally, Farther Finance Advisors LLC lifted its stake in shares of Cabot by 1,346.4% in the 1st quarter. Farther Finance Advisors LLC now owns 1,620 shares of the specialty chemicals company's stock valued at $136,000 after purchasing an additional 1,508 shares during the last quarter. Institutional investors and hedge funds own 93.18% of the company's stock.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In related 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 sale, the chief executive officer owned 361,518 shares of the company's stock, valued at $28,661,147.04. The trade was a 24.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.03% of the stock is currently owned by insiders.

Cabot Stock Performance

Shares of NYSE:CBT traded down $0.22 on Monday, hitting $81.55. 349,240 shares of the company were exchanged, compared to its average volume of 386,762. The company's 50 day moving average price is $77.53 and its two-hundred day moving average price is $78.66. Cabot Corporation has a one year low of $70.40 and a one year high of $117.46. 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 firm has a market capitalization of $4.34 billion, a price-to-earnings ratio of 10.66 and a beta of 0.90.

Cabot (NYSE:CBT - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The specialty chemicals company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.10. Cabot had a net margin of 11.14% and a return on equity of 25.68%. The company 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. Research analysts expect that Cabot Corporation will post 7.57 earnings per share for the current year.

Cabot Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Friday, August 29th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.80 dividend on an annualized basis and a yield of 2.2%. Cabot's payout ratio is presently 23.53%.

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.