Wellington Management Group LLP Cuts Stock Position in Cabot Corporation $CBT

Key Points

• Wellington Management Group LLP has reduced its stake in Cabot Corporation by 2.6% during the first quarter, now holding 4.23 million shares valued at approximately $352 million.
• Cabot Corporation reported quarterly earnings of $1.90 per share, exceeding analysts' expectations, despite revenues falling short of forecasts at $923 million.
• The company declared a quarterly dividend of $0.45 per share, equating to an annual yield of 2.3%, with a low payout ratio of 23.53%.

Wellington Management Group LLP decreased its position in shares of Cabot Corporation (NYSE:CBT - Free Report) by 2.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,235,965 shares of the specialty chemicals company's stock after selling 112,649 shares during the quarter. Wellington Management Group LLP owned 7.81% of Cabot worth $352,178,000 as of its most recent SEC filing.

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

Cabot Trading Down 1.6%

NYSE:CBT traded down $1.3350 on Monday, reaching $81.6050. The company's stock had a trading volume of 36,522 shares, compared to its average volume of 424,841. Cabot Corporation has a 12-month low of $70.40 and a 12-month high of $117.46. The company has a quick ratio of 1.41, a current ratio of 2.13 and a debt-to-equity ratio of 0.66. The firm has a market cap of $4.34 billion, a price-to-earnings ratio of 10.66 and a beta of 0.87. The stock has a 50 day moving average price of $76.69 and a 200 day moving average price of $78.81.

Cabot (NYSE:CBT - Get Free Report) last posted 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. Cabot had a return on equity of 25.68% and a net margin of 11.14%.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. On average, equities analysts anticipate that Cabot Corporation will post 7.57 EPS for the current fiscal year.

Cabot Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Friday, August 29th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. Cabot's dividend payout ratio is presently 23.53%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CBT. Wall Street Zen downgraded Cabot from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. UBS Group set a $82.00 price objective on Cabot and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. One investment 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. According to data from MarketBeat, Cabot has a consensus rating of "Hold" and an average target price of $92.33.

Insider Activity

In related news, CEO Sean D. Keohane sold 114,436 shares of the business's stock in a transaction on Thursday, August 14th. The stock was 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 in the company, valued at approximately $28,661,147.04. The trade was a 24.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.03% of the company's stock.

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.