Citigroup Inc. Boosts Stock Position in Cabot Corporation $CBT

Key Points

• Citigroup Inc. increased its holdings in Cabot Corporation by 44.7% in the first quarter, now owning 112,025 shares valued at approximately $9.31 million.
• Cabot Corporation reported an earnings per share of $1.90, exceeding analysts' expectations of $1.80, despite revenue falling short at $923 million compared to the anticipated $957.29 million.
• The company announced a quarterly dividend of $0.45, resulting in an annualized dividend of $1.80 and a yield of 2.3% to be paid on September 11th.

Citigroup Inc. grew its position in Cabot Corporation (NYSE:CBT - Free Report) by 44.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 112,025 shares of the specialty chemicals company's stock after purchasing an additional 34,582 shares during the quarter. Citigroup Inc. owned approximately 0.21% of Cabot worth $9,314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Ontario Teachers Pension Plan Board grew its holdings in Cabot by 180.8% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 60,712 shares of the specialty chemicals company's stock valued at $5,048,000 after buying an additional 39,089 shares in the last quarter. New Age Alpha Advisors LLC raised its holdings in shares of Cabot by 28.5% in the first quarter. New Age Alpha Advisors LLC now owns 3,480 shares of the specialty chemicals company's stock worth $289,000 after buying an additional 771 shares during the period. PNC Financial Services Group Inc. boosted its position in Cabot by 12.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,356 shares of the specialty chemicals company's stock valued at $362,000 after buying an additional 494 shares during the period. LSV Asset Management grew its position in shares of Cabot by 318.0% during the 1st quarter. LSV Asset Management now owns 571,034 shares of the specialty chemicals company's stock worth $47,476,000 after buying an additional 434,434 shares in the last quarter. Finally, Natixis Advisors LLC boosted its position in Cabot by 14.0% during the 1st quarter. Natixis Advisors LLC now owns 141,417 shares of the specialty chemicals company's stock valued at $11,757,000 after acquiring an additional 17,338 shares in the last quarter. 93.18% of the stock is currently owned by institutional investors.

Cabot Price Performance

Shares of CBT stock traded up $0.08 on Wednesday, reaching $79.48. 84,488 shares of the company were exchanged, compared to its average volume of 426,683. Cabot Corporation has a 1 year low of $70.40 and a 1 year high of $117.46. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.41 and a current ratio of 2.13. The business has a 50-day moving average price of $76.43 and a 200 day moving average price of $79.00. The company has a market cap of $4.23 billion, a price-to-earnings ratio of 10.39 and a beta of 0.87.

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 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. Equities research analysts forecast that Cabot Corporation will post 7.57 earnings per share for the current fiscal year.

Cabot Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Friday, August 29th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. Cabot's payout ratio is 23.53%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CBT shares. UBS Group set a $82.00 price target on Cabot and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Wall Street Zen downgraded Cabot from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Cabot has an average 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 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 transaction, the chief executive officer owned 361,518 shares of the company's stock, valued at approximately $28,661,147.04. This trade represents a 24.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.03% of the stock is owned by corporate insiders.

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.