Cabot Corporation $CBT Shares Sold by Millennium Management LLC

Key Points

• Millennium Management LLC reduced its stake in Cabot Corporation by 27.7%, selling 96,890 shares, and now owns approximately 252,479 shares valued at $20.99 million.
• Cabot Corporation reported $1.90 EPS for the last quarter, exceeding analysts' expectations and set its FY 2025 earnings guidance between 7.150 and 7.500 EPS.
• The company recently announced a quarterly dividend of **$0.45 per share**, resulting in an annualized dividend of **$1.80** and a yield of **2.3%**.

Millennium Management LLC trimmed its holdings in Cabot Corporation (NYSE:CBT - Free Report) by 27.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 252,479 shares of the specialty chemicals company's stock after selling 96,890 shares during the quarter. Millennium Management LLC owned about 0.47% of Cabot worth $20,991,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CBT. Ameriprise Financial Inc. boosted its holdings in Cabot by 1.5% in the fourth quarter. Ameriprise Financial Inc. now owns 214,135 shares of the specialty chemicals company's stock valued at $19,553,000 after purchasing an additional 3,240 shares in the last quarter. Captrust Financial Advisors lifted its stake in Cabot by 4.4% in the fourth quarter. Captrust Financial Advisors now owns 9,489 shares of the specialty chemicals company's stock valued at $866,000 after buying an additional 399 shares during the last quarter. Cetera Investment Advisers lifted its stake in Cabot by 60.3% in the fourth quarter. Cetera Investment Advisers now owns 19,241 shares of the specialty chemicals company's stock valued at $1,757,000 after buying an additional 7,235 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its stake in Cabot by 221.1% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 18,346 shares of the specialty chemicals company's stock valued at $1,675,000 after buying an additional 12,633 shares during the last quarter. Finally, Gotham Asset Management LLC lifted its stake in Cabot by 22.3% in the fourth quarter. Gotham Asset Management LLC now owns 26,278 shares of the specialty chemicals company's stock valued at $2,399,000 after buying an additional 4,795 shares during the last quarter. 93.18% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Analyst Ratings Changes

Separately, UBS Group set a $82.00 price objective on Cabot and gave the company a "neutral" rating in a research note on Tuesday, August 5th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Cabot presently has a consensus rating of "Hold" and a consensus price target of $92.33.

Cabot Price Performance

CBT stock traded up $1.17 on Thursday, reaching $78.14. 234,984 shares of the company's stock were exchanged, compared to its average volume of 286,392. The stock has a fifty day moving average of $78.30 and a 200-day moving average of $78.17. Cabot Corporation has a twelve month low of $70.40 and a twelve month high of $117.46. The firm has a market cap of $4.16 billion, a PE ratio of 10.21 and a beta of 0.90. The company has a quick ratio of 1.41, a current ratio of 2.13 and a debt-to-equity ratio of 0.66.

Cabot (NYSE:CBT - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The specialty chemicals company reported $1.90 earnings per share for the quarter, topping analysts' consensus estimates of $1.80 by $0.10. Cabot had a return on equity of 25.68% and a net margin of 11.14%.The firm had revenue of $923.00 million for the quarter, compared to analyst estimates of $957.29 million. Cabot has set its FY 2025 guidance at 7.150-7.500 EPS. As a group, equities analysts predict that Cabot Corporation will post 7.57 EPS for the current fiscal year.

Cabot Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Friday, August 29th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Friday, August 29th. Cabot's dividend payout ratio is currently 23.53%.

About Cabot

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.