Copeland Capital Management LLC Sells 65,814 Shares of Cabot Corporation $CBT

Key Points

• Copeland Capital Management LLC decreased its stake in Cabot Corporation by 8.2%, selling 65,814 shares during the second quarter, resulting in ownership of approximately $55.5 million worth of stock.
• Cabot recently reported earnings of $1.90 per share, exceeding analysts' expectations, although revenue for the quarter was below consensus estimates at $923 million.
• The company announced a quarterly dividend of $0.45, yielding 2.4%, with a dividend payout ratio of 23.53%.

Copeland Capital Management LLC reduced its holdings in shares of Cabot Corporation (NYSE:CBT - Free Report) by 8.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 739,690 shares of the specialty chemicals company's stock after selling 65,814 shares during the quarter. Copeland Capital Management LLC owned 1.38% of Cabot worth $55,477,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Hilltop National Bank acquired a new position in Cabot during the 2nd quarter valued at about $92,000. Donald L. Hagan LLC purchased a new position in shares of Cabot during the second quarter valued at approximately $1,214,000. GAMMA Investing LLC raised its position in Cabot by 12.3% in the 2nd quarter. GAMMA Investing LLC now owns 1,909 shares of the specialty chemicals company's stock valued at $143,000 after buying an additional 209 shares during the last quarter. Park Avenue Securities LLC purchased a new stake in Cabot in the 2nd quarter valued at $312,000. Finally, UMB Bank n.a. lifted its stake in Cabot by 52.4% during the 2nd quarter. UMB Bank n.a. now owns 730 shares of the specialty chemicals company's stock valued at $55,000 after acquiring an additional 251 shares in the last quarter. Institutional investors own 93.18% of the company's stock.

Cabot Trading Up 0.4%

Shares of Cabot stock opened at $75.60 on Friday. The firm has a market cap of $4.02 billion, a PE ratio of 9.88 and a beta of 0.88. 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 current ratio of 2.13 and a quick ratio of 1.41. The stock has a fifty day moving average price of $78.24 and a 200-day moving average price of $77.67.

Cabot (NYSE:CBT - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The specialty chemicals company reported $1.90 earnings per share for the quarter, topping analysts' consensus estimates of $1.80 by $0.10. Cabot had a net margin of 11.14% and a return on equity of 25.68%. 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. Equities research analysts anticipate that Cabot Corporation will post 7.57 EPS for the current year.

Cabot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Friday, August 29th were paid a $0.45 dividend. The ex-dividend date was Friday, August 29th. This represents a $1.80 annualized dividend and a yield of 2.4%. Cabot's dividend payout ratio is presently 23.53%.

Analyst Ratings Changes

Separately, UBS Group set a $82.00 target price on shares of Cabot and gave the company a "neutral" rating in a report on Tuesday, August 5th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $92.33.

Insiders Place Their Bets

In other Cabot news, CEO Sean D. Keohane sold 114,436 shares of the firm'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 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 trade represents a 24.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company 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.

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