Earnest Partners LLC Cuts Stock Holdings in Cabot Corporation $CBT

Key Points

• Earnest Partners LLC reduced its stake in Cabot Corporation by 0.8%, now owning 3,230,556 shares, which constitute about 1.3% of their portfolio.
• Cabot reported $1.90 EPS for its latest quarter, exceeding analysts' expectations of $1.80, while revenue of $923 million fell short of the forecast of $957.29 million.
• The company announced a quarterly dividend of $0.45 per share, yielding 2.2%, set to be paid on September 11th to shareholders of record on August 29th.

Earnest Partners LLC reduced its stake in Cabot Corporation (NYSE:CBT - Free Report) by 0.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,230,556 shares of the specialty chemicals company's stock after selling 26,413 shares during the period. Cabot accounts for 1.3% of Earnest Partners LLC's holdings, making the stock its 13th biggest holding. Earnest Partners LLC owned 6.01% of Cabot worth $268,588,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CBT. Keeley Teton Advisors LLC raised its holdings in shares of Cabot by 1.0% in the 1st quarter. Keeley Teton Advisors LLC now owns 16,756 shares of the specialty chemicals company's stock worth $1,393,000 after acquiring an additional 174 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in shares of Cabot by 279.2% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 160,628 shares of the specialty chemicals company's stock valued at $13,355,000 after acquiring an additional 118,266 shares during the period. Campbell & CO Investment Adviser LLC boosted its holdings in Cabot by 1.0% in the 1st quarter. Campbell & CO Investment Adviser LLC now owns 23,601 shares of the specialty chemicals company's stock worth $1,962,000 after buying an additional 236 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its holdings in Cabot by 14.0% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 72,219 shares of the specialty chemicals company's stock worth $6,004,000 after buying an additional 8,864 shares during the period. Finally, AlphaQuest LLC boosted its holdings in Cabot by 8.3% in the 1st quarter. AlphaQuest LLC now owns 24,409 shares of the specialty chemicals company's stock valued at $2,029,000 after purchasing an additional 1,877 shares during the period. 93.18% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CBT has been the topic of a number of research analyst reports. UBS Group set a $82.00 target price on Cabot and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. Wall Street Zen downgraded shares of Cabot from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $92.33.

Cabot Stock Performance

Cabot stock traded down $0.22 during midday trading on Friday, reaching $81.55. 349,240 shares of the company traded hands, compared to its average volume of 406,042. The firm has a market capitalization of $4.34 billion, a price-to-earnings ratio of 10.66 and a beta of 0.87. The business has a 50 day moving average of $77.53 and a two-hundred day moving average of $78.71. Cabot Corporation has a 12 month low of $70.40 and a 12 month high of $117.46. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.13 and a quick ratio of 1.41.

Cabot (NYSE:CBT - Get Free Report) last announced its earnings results on Monday, August 4th. The specialty chemicals company reported $1.90 EPS for the quarter, beating analysts' consensus estimates of $1.80 by $0.10. The business had revenue of $923.00 million during the quarter, compared to analysts' expectations 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. As a group, research analysts predict that Cabot Corporation will post 7.57 earnings per share for the current year.

Cabot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Friday, August 29th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, August 29th. This represents a $1.80 annualized dividend and a yield of 2.2%. Cabot's dividend payout ratio (DPR) is 23.53%.

Insider Buying and Selling

In other Cabot news, CEO Sean D. Keohane sold 114,436 shares of the stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $79.28, for a total transaction of $9,072,486.08. Following the completion of the transaction, the chief executive officer owned 361,518 shares in the company, valued at $28,661,147.04. This trade represents a 24.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.03% of the stock is owned by company insiders.

Cabot Company 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.