Janney Montgomery Scott LLC Sells 5,360 Shares of Cabot Corporation $CBT

Key Points

• Janney Montgomery Scott LLC reduced its stake in Cabot Corporation by 45.7%, selling 5,360 shares, and now holds a total of 6,370 shares valued at approximately $478,000.
• CEO Sean D. Keohane sold 114,436 shares of Cabot stock for over $9 million, reducing his ownership by 24.04% to 361,518 shares.
• Despite mixed institutional activities, Cabot maintains a significant institutional ownership of 93.18%, and the company has set an EPS guidance for FY 2025 between 7.150-7.500.

Janney Montgomery Scott LLC lowered its position in Cabot Corporation (NYSE:CBT - Free Report) by 45.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,370 shares of the specialty chemicals company's stock after selling 5,360 shares during the period. Janney Montgomery Scott LLC's holdings in Cabot were worth $478,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in Cabot by 12.3% in the second quarter. GAMMA Investing LLC now owns 1,909 shares of the specialty chemicals company's stock worth $143,000 after purchasing an additional 209 shares during the last quarter. Park Avenue Securities LLC bought a new stake in Cabot in the second quarter worth about $312,000. UMB Bank n.a. lifted its stake in Cabot by 52.4% in the second quarter. UMB Bank n.a. now owns 730 shares of the specialty chemicals company's stock worth $55,000 after purchasing an additional 251 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in Cabot by 21.5% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 17,500 shares of the specialty chemicals company's stock worth $1,312,000 after purchasing an additional 3,100 shares during the last quarter. Finally, Ferguson Wellman Capital Management Inc. lifted its stake in Cabot by 4.2% in the second quarter. Ferguson Wellman Capital Management Inc. now owns 5,000 shares of the specialty chemicals company's stock worth $375,000 after purchasing an additional 200 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 Cabot 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 completion of the sale, the chief executive officer directly owned 361,518 shares in the company, valued at approximately $28,661,147.04. The trade was a 24.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 3.03% of the company's stock.

Cabot Price Performance

Shares of CBT opened at $69.62 on Friday. The company has a market cap of $3.70 billion, a price-to-earnings ratio of 9.10 and a beta of 0.88. Cabot Corporation has a twelve month low of $66.50 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 50 day moving average of $77.29 and a two-hundred day moving average of $76.73.

Cabot (NYSE:CBT - Get Free Report) last announced its earnings results 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 company 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, analysts predict that Cabot Corporation will post 7.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Mizuho decreased their price objective on shares of Cabot from $90.00 to $88.00 and set an "outperform" rating for the company in a research note on Friday, October 3rd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Cabot in a research report on Wednesday, October 8th. Finally, UBS Group set a $82.00 target price on shares of Cabot and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $85.00.

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.

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