Cambiar Investors LLC Trims Stock Position in Cabot Corporation $CBT

Key Points

• Cambiar Investors LLC reduced its stake in Cabot Corporation by 16.4%, selling 3,319 shares, and now holds 16,947 shares valued at $1,409,000.
• Cabot announced a quarterly dividend of $0.45 per share, representing a 2.3% yield, and has a dividend payout ratio of 23.53%.
• CEO Sean D. Keohane sold 114,436 shares of Cabot at an average price of $79.28, decreasing his ownership by 24.04%.

Cambiar Investors LLC decreased its stake in Cabot Corporation (NYSE:CBT - Free Report) by 16.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,947 shares of the specialty chemicals company's stock after selling 3,319 shares during the quarter. Cambiar Investors LLC's holdings in Cabot were worth $1,409,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. QRG Capital Management Inc. acquired a new stake in shares of Cabot in the first quarter valued at about $482,000. SG Americas Securities LLC acquired a new stake in shares of Cabot in the first quarter valued at about $1,102,000. GAMMA Investing LLC grew its position in shares of Cabot by 26.1% in the first quarter. GAMMA Investing LLC now owns 1,700 shares of the specialty chemicals company's stock valued at $141,000 after purchasing an additional 352 shares during the period. KBC Group NV grew its position in shares of Cabot by 31.5% in the first quarter. KBC Group NV now owns 2,690 shares of the specialty chemicals company's stock valued at $224,000 after purchasing an additional 644 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new stake in Cabot during the 1st quarter worth $975,000. Institutional investors and hedge funds own 93.18% of the company's stock.

Cabot Stock Up 4.9%

Shares of CBT traded up $3.9020 during mid-day trading on Friday, reaching $83.0020. The company's stock had a trading volume of 366,335 shares, compared to its average volume of 433,899. Cabot Corporation has a 12-month low of $70.40 and a 12-month high of $117.46. The stock has a market cap of $4.42 billion, a PE ratio of 10.85 and a beta of 0.87. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.13 and a quick ratio of 1.41. The company's 50 day moving average is $76.69 and its 200 day moving average is $78.93.

Cabot (NYSE:CBT - Get Free Report) last released its quarterly earnings data 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 for 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. Equities analysts anticipate that Cabot Corporation will post 7.57 EPS for the current fiscal year.

Cabot Announces Dividend

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 dividend on an annualized basis and a dividend yield of 2.2%. Cabot's dividend payout ratio (DPR) is presently 23.53%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CBT shares. UBS Group set a $82.00 target price on shares of Cabot and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. Wall Street Zen cut 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 assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently 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 company's stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 361,518 shares of the company's stock, valued at $28,661,147.04. This represents a 24.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.03% of the stock is currently owned by company insiders.

Cabot Company 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.