T. Rowe Price Investment Management Inc. Reduces Stock Holdings in Cabot Corporation $CBT

Key Points

• T. Rowe Price Investment Management Inc. reduced its stake in Cabot Corporation by 41.2%, owning 324,584 shares after selling 227,356 shares in the first quarter.
• CEO Sean D. Keohane sold 114,436 shares of Cabot stock, resulting in a 24.04% decrease in his ownership position, valued at approximately $28.66 million.
• Cabot Corporation reported earnings of $1.90 EPS for the last quarter, surpassing analyst expectations, and set a fiscal year 2025 guidance of $7.150-$7.500 EPS.

T. Rowe Price Investment Management Inc. cut its holdings in shares of Cabot Corporation (NYSE:CBT - Free Report) by 41.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 324,584 shares of the specialty chemicals company's stock after selling 227,356 shares during the period. T. Rowe Price Investment Management Inc. owned 0.60% of Cabot worth $26,986,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Beverly Hills Private Wealth LLC increased its holdings in Cabot by 3.6% in the 1st quarter. Beverly Hills Private Wealth LLC now owns 3,918 shares of the specialty chemicals company's stock worth $326,000 after buying an additional 135 shares during the period. Isthmus Partners LLC lifted its position in shares of Cabot by 4.6% in the first quarter. Isthmus Partners LLC now owns 4,258 shares of the specialty chemicals company's stock valued at $354,000 after acquiring an additional 186 shares in the last quarter. CWM LLC raised its holdings in 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 acquiring an additional 213 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Cabot by 26.1% in the 1st quarter. GAMMA Investing LLC now owns 1,700 shares of the specialty chemicals company's stock worth $141,000 after acquiring an additional 352 shares during the last quarter. Finally, Captrust Financial Advisors raised its holdings in shares of Cabot by 4.4% during the 4th quarter. Captrust Financial Advisors now owns 9,489 shares of the specialty chemicals company's stock worth $866,000 after acquiring an additional 399 shares during the period. Institutional investors and hedge funds own 93.18% of the company's stock.

Cabot Price Performance

Shares of CBT traded down $0.12 on Thursday, reaching $81.83. The stock had a trading volume of 124,611 shares, compared to its average volume of 422,043. The firm has a market capitalization of $4.35 billion, a PE ratio of 10.70 and a beta of 0.87. Cabot Corporation has a twelve month low of $70.40 and a twelve month high of $117.46. The firm has a 50-day moving average of $77.18 and a 200 day moving average of $78.82. 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 released its quarterly earnings results on Monday, August 4th. The specialty chemicals company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.80 by $0.10. The company had revenue of $923.00 million during the quarter, compared to the consensus estimate of $957.29 million. Cabot had a return on equity of 25.68% and a net margin of 11.14%. Cabot has set its FY 2025 guidance at 7.150-7.500 EPS. Sell-side analysts expect that Cabot Corporation will post 7.57 EPS for the current year.

Cabot Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, August 29th. 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 business's stock in a transaction that occurred 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 sale, the chief executive officer directly owned 361,518 shares in the company, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.03% of the company's stock.

Analyst Ratings Changes

CBT has been the subject of several analyst reports. Wall Street Zen lowered Cabot from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. 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. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Cabot has a consensus rating of "Hold" and an average 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.