Canada Pension Plan Investment Board Increases Stake in Cabot Corporation $CBT

Key Points

• The Canada Pension Plan Investment Board increased its stake in Cabot Corporation by 47.8% in Q1, owning 20,100 shares valued at $1.67 million at the end of the reporting period.
• CEO Sean D. Keohane recently sold 114,436 shares for over $9 million, which decreased his ownership by 24.04%.
• UBS Group set a price target of $82.00 on Cabot, while analysts currently maintain a consensus rating of "Hold" with an average price target of $92.33.

Canada Pension Plan Investment Board grew its holdings in shares of Cabot Corporation (NYSE:CBT - Free Report) by 47.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,100 shares of the specialty chemicals company's stock after acquiring an additional 6,500 shares during the quarter. Canada Pension Plan Investment Board's holdings in Cabot were worth $1,671,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. QRG Capital Management Inc. acquired a new position in Cabot during the first quarter worth about $482,000. SG Americas Securities LLC acquired a new position in shares of Cabot in the first quarter valued at approximately $1,102,000. GAMMA Investing LLC increased its stake 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 buying an additional 352 shares during the period. KBC Group NV increased its stake 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 buying an additional 644 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new position in shares of Cabot in the first quarter valued at approximately $975,000. Institutional investors and hedge funds own 93.18% of the company's stock.

Analyst Ratings Changes

Separately, UBS Group set a $82.00 price objective on Cabot and gave the company a "neutral" rating in a research note on Tuesday, August 5th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $92.33.

Insider Activity at Cabot

In other news, CEO Sean D. Keohane sold 114,436 shares of Cabot stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $79.28, for a total transaction of $9,072,486.08. Following 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.03% of the stock is owned by insiders.

Cabot Stock Down 1.6%

Shares of CBT traded down $1.26 during trading hours on Wednesday, reaching $79.19. The stock had a trading volume of 375,461 shares, compared to its average volume of 309,355. The company has a current ratio of 2.13, a quick ratio of 1.41 and a debt-to-equity ratio of 0.66. The firm has a 50-day simple moving average of $78.24 and a 200 day simple moving average of $78.44. Cabot Corporation has a 12 month low of $70.40 and a 12 month high of $117.46. The company has a market capitalization of $4.21 billion, a price-to-earnings ratio of 10.35 and a beta of 0.90.

Cabot (NYSE:CBT - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The specialty chemicals company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.80 by $0.10. The firm had revenue of $923.00 million during the quarter, compared to analyst estimates of $957.29 million. Cabot had a net margin of 11.14% and a return on equity of 25.68%. Cabot has set its FY 2025 guidance at 7.150-7.500 EPS. Equities research analysts predict that Cabot Corporation will post 7.57 earnings per share for the current fiscal year.

Cabot Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Friday, August 29th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Friday, August 29th. Cabot's payout ratio is presently 23.53%.

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.