Eastern Bank Has $18.54 Million Stock Holdings in Cabot Corporation $CBT

Key Points

• Eastern Bank has reduced its holdings in Cabot Corporation by 4.6% during the second quarter, owning approximately 247,143 shares worth about $18.54 million.
• Several other investors have increased their stakes in Cabot, with institutional investors owning 93.18% of the company's stock.
• Analysts have a consensus rating of "Hold" on Cabot's stock, with a current average target price of $85.00.

Eastern Bank decreased its holdings in shares of Cabot Corporation (NYSE:CBT - Free Report) by 4.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 247,143 shares of the specialty chemicals company's stock after selling 12,000 shares during the quarter. Eastern Bank owned approximately 0.46% of Cabot worth $18,536,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. increased its position in Cabot by 409.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 453 shares of the specialty chemicals company's stock worth $38,000 after buying an additional 364 shares during the period. Banque Cantonale Vaudoise bought a new position in Cabot during the 1st quarter worth $43,000. CWM LLC increased its position in Cabot by 55.0% during the 1st quarter. CWM LLC now owns 600 shares of the specialty chemicals company's stock worth $50,000 after buying an additional 213 shares during the period. Brooklyn Investment Group increased its position in Cabot by 1,553.7% during the 1st quarter. Brooklyn Investment Group now owns 678 shares of the specialty chemicals company's stock worth $56,000 after buying an additional 637 shares during the period. Finally, UMB Bank n.a. increased its position in Cabot by 52.4% during the 2nd quarter. UMB Bank n.a. now owns 730 shares of the specialty chemicals company's stock worth $55,000 after buying an additional 251 shares during the period. Institutional investors own 93.18% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Weiss Ratings reiterated a "hold (c)" rating on shares of Cabot in a research report on Wednesday. Mizuho decreased their price target on Cabot from $90.00 to $88.00 and set an "outperform" rating on the stock in a research report on Friday, October 3rd. Finally, 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. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $85.00.

Cabot Stock Down 2.8%

Shares of NYSE CBT opened at $69.21 on Friday. The stock's fifty day moving average is $78.13 and its 200 day moving average is $77.23. The stock has a market capitalization of $3.68 billion, a P/E ratio of 9.05 and a beta of 0.88. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.41 and a current ratio of 2.13. Cabot Corporation has a 52 week low of $69.04 and a 52 week high of $117.46.

Cabot (NYSE:CBT - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The specialty chemicals company reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.10. The business had revenue of $923.00 million for the quarter, compared to analyst estimates 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. Sell-side analysts forecast that Cabot Corporation will post 7.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Sean D. Keohane sold 114,436 shares of the firm'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 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. 3.03% of the stock is owned by company insiders.

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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