Cabot Corporation $CBT Shares Purchased by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC significantly increased its ownership in Cabot Corporation, acquiring an additional 47,871 shares, resulting in a total of 71,238 shares and a 204.9% increase in holdings during the 1st quarter.
• Cabot Corporation announced a quarterly dividend of $0.45 per share, with a dividend yield of 2.2%, to be paid on September 11th.
• Following recent earnings, where Cabot reported $1.90 earnings per share, a consensus rating of "Hold" has been established with a target price of $92.33 by analysts.

Hsbc Holdings PLC raised its stake in shares of Cabot Corporation (NYSE:CBT - Free Report) by 204.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 71,238 shares of the specialty chemicals company's stock after acquiring an additional 47,871 shares during the quarter. Hsbc Holdings PLC owned approximately 0.13% of Cabot worth $5,895,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of CBT. LSV Asset Management lifted its holdings in shares of Cabot by 318.0% during the 1st quarter. LSV Asset Management now owns 571,034 shares of the specialty chemicals company's stock valued at $47,476,000 after purchasing an additional 434,434 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Cabot by 13.2% during the 1st quarter. American Century Companies Inc. now owns 1,498,268 shares of the specialty chemicals company's stock valued at $124,566,000 after purchasing an additional 174,921 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Cabot during the 1st quarter valued at $12,365,000. Millennium Management LLC lifted its holdings in shares of Cabot by 67.7% during the 4th quarter. Millennium Management LLC now owns 349,369 shares of the specialty chemicals company's stock valued at $31,901,000 after purchasing an additional 141,050 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Cabot by 10,385.0% during the 1st quarter. GAMMA Investing LLC now owns 141,338 shares of the specialty chemicals company's stock valued at $11,751,000 after purchasing an additional 139,990 shares during the last quarter. Institutional investors own 93.18% of the company's stock.

Insider Activity at Cabot

In other 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 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. This trade represents a 24.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.03% of the stock is owned by company insiders.

Cabot Stock Performance

Shares of NYSE CBT traded down $0.12 during trading on Thursday, reaching $81.83. 251,478 shares of the company traded hands, compared to its average volume of 419,775. The firm's fifty day simple moving average is $77.36 and its 200 day simple moving average is $78.79. The stock has a market cap of $4.35 billion, a P/E ratio of 10.70 and a beta of 0.87. Cabot Corporation has a 12-month low of $70.40 and a 12-month high of $117.46. 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 released its quarterly earnings data on Monday, August 4th. The specialty chemicals company reported $1.90 earnings per share for the quarter, beating analysts' consensus estimates of $1.80 by $0.10. The business had revenue of $923.00 million during 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. As a group, research analysts anticipate 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 given a dividend of $0.45 per share. 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 (DPR) is 23.53%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CBT shares. Wall Street Zen lowered Cabot from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. UBS Group set a $82.00 target price on Cabot and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. One investment 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, Cabot presently has a consensus rating of "Hold" and an average price target of $92.33.

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.