Intech Investment Management LLC Grows Position in Cabot Corporation $CBT

Key Points

• Intech Investment Management LLC increased its stake in Cabot Corporation by 54.9%, acquiring an additional 10,775 shares, bringing its total to 30,405 shares worth $2,528,000.
• CEO Sean D. Keohane sold 114,436 shares of Cabot at an average price of $79.28, resulting in a significant 24.04% decrease in his ownership.
• Cabot's recent earnings report showed an EPS of $1.90, surpassing analysts' expectations of $1.80, while also guiding for FY 2025 EPS between 7.150-7.500.

Intech Investment Management LLC increased its position in shares of Cabot Corporation (NYSE:CBT - Free Report) by 54.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 30,405 shares of the specialty chemicals company's stock after acquiring an additional 10,775 shares during the period. Intech Investment Management LLC owned approximately 0.06% of Cabot worth $2,528,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. Cetera Investment Advisers boosted its holdings in shares of Cabot by 60.3% during the 4th quarter. Cetera Investment Advisers now owns 19,241 shares of the specialty chemicals company's stock valued at $1,757,000 after acquiring an additional 7,235 shares during the last quarter. D. E. Shaw & Co. Inc. grew its stake in shares of Cabot by 221.1% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 18,346 shares of the specialty chemicals company's stock worth $1,675,000 after purchasing an additional 12,633 shares during the period. Millennium Management LLC lifted its holdings in Cabot by 67.7% in 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 in the last quarter. Nomura Holdings Inc. purchased a new stake in Cabot during the fourth quarter worth about $663,000. Finally, Quantinno Capital Management LP boosted its holdings in Cabot by 69.9% in the fourth quarter. Quantinno Capital Management LP now owns 4,381 shares of the specialty chemicals company's stock valued at $400,000 after purchasing an additional 1,803 shares in the last quarter. 93.18% of the stock is currently owned by institutional investors.

Cabot Stock Performance

CBT traded down $0.59 on Friday, hitting $77.50. The company's stock had a trading volume of 870,553 shares, compared to its average volume of 281,368. Cabot Corporation has a 12 month low of $70.40 and a 12 month high of $117.46. The company has a quick ratio of 1.41, a current ratio of 2.13 and a debt-to-equity ratio of 0.66. The firm has a market cap of $4.12 billion, a P/E ratio of 10.13 and a beta of 0.90. The company's 50 day simple moving average is $78.28 and its 200-day simple moving average is $78.14.

Cabot (NYSE:CBT - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The specialty chemicals company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.10. The company had revenue of $923.00 million for the quarter, compared to analysts' expectations 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. Analysts forecast 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 dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Friday, August 29th. Cabot's payout ratio is 23.53%.

Insiders Place Their Bets

In related news, CEO Sean D. Keohane sold 114,436 shares of the stock in a transaction on 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 sale, the chief executive officer directly owned 361,518 shares of the company's stock, valued at approximately $28,661,147.04. This represents a 24.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.03% of the company's stock.

Analysts Set New Price Targets

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 investment 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's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus 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.