Cabot Corporation $CBT Stock Holdings Lowered by Eastern Bank

Key Points

• Eastern Bank reduced its Cabot stake by 8.9% in the second quarter, selling 19,759 shares and retaining 202,300 shares valued at approximately $18.4 million. Institutional investors collectively own 93.18% of Cabot.
• Analyst sentiment remains mixed, with Cabot carrying a consensus “Hold” rating and an average price target of $85.80. Recent targets range from $86 to $98.
• Cabot reported quarterly EPS of $1.67, narrowly beating estimates, while revenue rose 6.4% year over year to $982 million. The company also declared a quarterly dividend of $0.4725, representing a 2.1% annualized yield.

Eastern Bank lessened its position in Cabot Corporation (NYSE:CBT - Free Report) by 8.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 202,300 shares of the specialty chemicals company's stock after selling 19,759 shares during the period. Eastern Bank owned approximately 0.39% of Cabot worth $18,373,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CBT. Norges Bank bought a new stake in shares of Cabot during the fourth quarter valued at approximately $49,662,000. AQR Capital Management LLC grew its holdings in Cabot by 123.0% in the 2nd quarter. AQR Capital Management LLC now owns 867,946 shares of the specialty chemicals company's stock worth $65,096,000 after buying an additional 478,702 shares in the last quarter. UBS Group AG grew its holdings in Cabot by 186.7% in the 3rd quarter. UBS Group AG now owns 593,510 shares of the specialty chemicals company's stock worth $45,136,000 after buying an additional 386,514 shares in the last quarter. Pacer Advisors Inc. increased its position in Cabot by 3,165.7% in the 4th quarter. Pacer Advisors Inc. now owns 229,252 shares of the specialty chemicals company's stock valued at $15,195,000 after acquiring an additional 222,232 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Cabot during the 4th quarter valued at $8,785,000. 93.18% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on CBT. Truist Financial assumed coverage on Cabot in a research note on Monday, June 8th. They issued a "buy" rating and a $98.00 price target for the company. UBS Group lifted their price objective on shares of Cabot from $81.00 to $86.00 and gave the company a "neutral" rating in a research note on Friday, May 8th. Mizuho increased their target price on shares of Cabot from $80.00 to $90.00 and gave the company a "neutral" rating in a research report on Thursday, June 25th. Weiss Ratings reissued a "hold (c)" rating on shares of Cabot in a research note on Tuesday, May 26th. Finally, Wall Street Zen downgraded shares of Cabot from a "buy" rating to a "hold" rating in a research report on Saturday. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Cabot currently has a consensus rating of "Hold" and a consensus target price of $85.80.

Cabot Stock Up 2.2%

CBT opened at $90.00 on Tuesday. Cabot Corporation has a one year low of $58.33 and a one year high of $94.53. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.96 and a current ratio of 1.45. The stock's fifty day moving average is $88.03 and its 200-day moving average is $79.56. The company has a market capitalization of $4.65 billion, a PE ratio of 17.01, a P/E/G ratio of 11.46 and a beta of 0.84.

Cabot (NYSE:CBT - Get Free Report) last announced its earnings results on Monday, August 3rd. The specialty chemicals company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.01. The business had revenue of $982.00 million during the quarter, compared to analysts' expectations of $943.16 million. Cabot had a return on equity of 21.33% and a net margin of 7.97%.The company's quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the business posted $1.90 earnings per share. Cabot has set its FY 2026 guidance at 6.150-6.450 EPS. On average, equities analysts predict that Cabot Corporation will post 6.35 EPS for the current fiscal year.

Cabot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 28th will be paid a $0.4725 dividend. The ex-dividend date of this dividend is Friday, August 28th. This represents a $1.89 annualized dividend and a dividend yield of 2.1%. Cabot's payout ratio is currently 35.73%.

Cabot Company Profile

Cabot Corporation is a global specialty chemicals and performance materials company headquartered in Boston, Massachusetts. Founded in 1882 by Godfrey Lowell Cabot, the company has grown into a diversified manufacturer with operations across North America, Europe, Asia and Latin America. Cabot serves a wide range of end markets, including automotive, industrial, energy, and consumer products, supplying essential ingredients that enhance performance, durability and functionality.

The company operates two primary segments: Reinforcement Materials and Performance Materials.

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