Magnetar Financial LLC Has $2.37 Million Stock Holdings in Cabot Corporation $CBT

Key Points

• Magnetar Financial LLC significantly increased its stake in Cabot Corporation by 955.7% during Q1, owning 28,504 shares valued at approximately $2.37 million.
• CEO Sean D. Keohane sold over 114,000 shares of Cabot stock, reducing his ownership by 24.04%, amid other institutional investor activity that saw multiple firms increase their stakes.
• Cabot recently reported Q2 earnings of $1.90 per share, surpassing analysts' estimates, while also declaring a $0.45 quarterly dividend with a yield of 2.2% for shareholders.

Magnetar Financial LLC lifted its stake in Cabot Corporation (NYSE:CBT - Free Report) by 955.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,504 shares of the specialty chemicals company's stock after acquiring an additional 25,804 shares during the quarter. Magnetar Financial LLC owned approximately 0.05% of Cabot worth $2,370,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. QRG Capital Management Inc. bought a new stake in Cabot in the first quarter worth $482,000. SG Americas Securities LLC bought a new stake in Cabot during the first quarter valued at about $1,102,000. GAMMA Investing LLC lifted its stake in shares of Cabot by 26.1% in the first quarter. GAMMA Investing LLC now owns 1,700 shares of the specialty chemicals company's stock valued at $141,000 after buying an additional 352 shares during the period. KBC Group NV lifted its stake in shares of Cabot by 31.5% in the first quarter. KBC Group NV now owns 2,690 shares of the specialty chemicals company's stock valued at $224,000 after buying an additional 644 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new position in Cabot in the first quarter worth about $975,000. 93.18% of the stock is owned by institutional investors and hedge funds.

Cabot Stock Up 0.7%

CBT traded up $0.59 during trading on Thursday, hitting $80.98. The company had a trading volume of 61,938 shares, compared to its average volume of 418,131. The company has a market capitalization of $4.31 billion, a PE ratio of 10.59 and a beta of 0.90. Cabot Corporation has a one year low of $70.40 and a one year high of $117.46. The firm's 50-day moving average price is $77.88 and its 200 day moving average price is $78.65. The company has a quick ratio of 1.41, a current ratio of 2.13 and a debt-to-equity ratio of 0.66.

Cabot (NYSE:CBT - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The specialty chemicals company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.80 by $0.10. The business 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. As a group, equities analysts expect that Cabot Corporation will post 7.57 earnings per share for the current year.

Cabot Dividend Announcement

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

Insider Transactions at Cabot

In other Cabot 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 value of $9,072,486.08. Following 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.03% of the company's stock.

Analyst Upgrades and Downgrades

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