Hancock Whitney Corp Purchases 27,731 Shares of Cabot Corporation $CBT

Key Points

• Hancock Whitney Corp increased its position in Cabot Corporation by 19.5%, owning a total of 169,868 shares worth approximately $14.1 million after purchasing an additional 27,731 shares in Q1.
• Institutional investors own 93.18% of Cabot's stock, with other notable investors including American Century Companies and LSV Asset Management significantly increasing their stakes.
• Cabot Corporation recently declared a quarterly dividend of $0.45, resulting in an annualized dividend yield of 2.2% and a payout ratio of 23.53%.

Hancock Whitney Corp increased its position in Cabot Corporation (NYSE:CBT - Free Report) by 19.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 169,868 shares of the specialty chemicals company's stock after buying an additional 27,731 shares during the period. Hancock Whitney Corp owned about 0.32% of Cabot worth $14,123,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CBT. American Century Companies Inc. grew its position in shares of Cabot by 13.2% during the first quarter. American Century Companies Inc. now owns 1,498,268 shares of the specialty chemicals company's stock worth $124,566,000 after purchasing an additional 174,921 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Cabot by 8.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,426,693 shares of the specialty chemicals company's stock worth $118,606,000 after purchasing an additional 108,397 shares during the period. Fuller & Thaler Asset Management Inc. grew its holdings in Cabot by 1.7% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,190,886 shares of the specialty chemicals company's stock valued at $99,010,000 after buying an additional 19,333 shares in the last quarter. Copeland Capital Management LLC grew its holdings in Cabot by 5.8% during the 1st quarter. Copeland Capital Management LLC now owns 805,504 shares of the specialty chemicals company's stock valued at $66,970,000 after buying an additional 44,132 shares in the last quarter. Finally, LSV Asset Management raised its position in shares of Cabot by 318.0% during the first quarter. LSV Asset Management now owns 571,034 shares of the specialty chemicals company's stock valued at $47,476,000 after buying an additional 434,434 shares during the last quarter. 93.18% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CBT shares. UBS Group set a $82.00 target price on shares of Cabot and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Wall Street Zen lowered Cabot from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $92.33.

Insider Buying and Selling

In related news, CEO Sean D. Keohane sold 114,436 shares of Cabot stock in a transaction dated 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 sale, the chief executive officer owned 361,518 shares in the company, valued at $28,661,147.04. This trade represents a 24.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.03% of the stock is owned by corporate insiders.

Cabot Price Performance

Cabot stock opened at $80.36 on Thursday. The firm has a market capitalization of $4.28 billion, a PE ratio of 10.50 and a beta of 0.90. Cabot Corporation has a 12-month low of $70.40 and a 12-month high of $117.46. The firm has a 50-day moving average price of $77.88 and a 200-day moving average price of $78.65. The company has a current ratio of 2.13, a quick ratio of 1.41 and a debt-to-equity ratio of 0.66.

Cabot (NYSE:CBT - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The specialty chemicals company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.10. The business had revenue of $923.00 million during the quarter, compared to the consensus estimate 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. As a group, equities research analysts forecast that Cabot Corporation will post 7.57 EPS for the current year.

Cabot Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Friday, August 29th will be issued a $0.45 dividend. The ex-dividend date is Friday, August 29th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. Cabot's dividend payout ratio is presently 23.53%.

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.

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