Invesco Ltd. Has $49.89 Million Holdings in Cabot Corporation $CBT

Key Points

• Invesco Ltd. has reduced its stake in Cabot Corporation by 29.0%, selling 245,223 shares to hold 600,038 shares, valued at approximately $49.89 million as of the end of the most recent quarter.
• Cabot Corporation reported an EPS of $1.90 for the last quarter, surpassing analysts' expectations of $1.80, but fell short on revenue with $923 million against the anticipated $957.29 million.
• The company has declared a quarterly dividend of $0.45, yielding 2.3%, with a payout ratio of 23.53%.

Invesco Ltd. cut its position in Cabot Corporation (NYSE:CBT - Free Report) by 29.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 600,038 shares of the specialty chemicals company's stock after selling 245,223 shares during the quarter. Invesco Ltd. owned about 1.11% of Cabot worth $49,887,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Citigroup Inc. grew its stake in shares of Cabot by 44.7% in the first quarter. Citigroup Inc. now owns 112,025 shares of the specialty chemicals company's stock valued at $9,314,000 after buying an additional 34,582 shares in the last quarter. Ontario Teachers Pension Plan Board grew its stake in shares of Cabot by 180.8% in the first quarter. Ontario Teachers Pension Plan Board now owns 60,712 shares of the specialty chemicals company's stock valued at $5,048,000 after buying an additional 39,089 shares in the last quarter. New Age Alpha Advisors LLC grew its stake in shares of Cabot by 28.5% in the first quarter. New Age Alpha Advisors LLC now owns 3,480 shares of the specialty chemicals company's stock valued at $289,000 after buying an additional 771 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Cabot by 12.8% in the first quarter. PNC Financial Services Group Inc. now owns 4,356 shares of the specialty chemicals company's stock valued at $362,000 after buying an additional 494 shares in the last quarter. Finally, LSV Asset Management grew its stake in shares of Cabot by 318.0% in 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 in the last quarter. 93.18% of the stock is owned by institutional investors.

Insider Buying and Selling at Cabot

In other news, CEO Sean D. Keohane sold 114,436 shares of Cabot stock in a transaction on 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 completion of the sale, the chief executive officer owned 361,518 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.03% of the company's stock.

Cabot Stock Performance

Shares of CBT traded up $3.9410 during midday trading on Friday, reaching $83.0410. 90,522 shares of the stock were exchanged, compared to its average volume of 425,482. Cabot Corporation has a twelve month low of $70.40 and a twelve 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 company has a market cap of $4.42 billion, a P/E ratio of 10.85 and a beta of 0.87. The stock's 50 day simple moving average is $76.52 and its 200 day simple moving average is $78.96.

Cabot (NYSE:CBT - Get Free Report) last posted its 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 return on equity of 25.68% and a net margin of 11.14%.The company had revenue of $923.00 million during the quarter, compared to the consensus estimate of $957.29 million. Cabot has set its FY 2025 guidance at 7.150-7.500 EPS. On average, sell-side analysts expect that Cabot Corporation will post 7.57 earnings per share for the current year.

Cabot Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. Cabot's dividend payout ratio is currently 23.53%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CBT. UBS Group set a $82.00 price target on Cabot and gave the company a "neutral" rating in a report on Tuesday, August 5th. Wall Street Zen downgraded Cabot from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Cabot presently has a consensus rating of "Hold" and a consensus price target of $92.33.

About Cabot

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.