MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 4,632 Shares of Cabot Corporation $CBT

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. has reduced its stake in Cabot Corporation by 6.0%, selling 4,632 shares, and now holds 73,021 shares valued at approximately $6.07 million.
• CEO Sean D. Keohane sold 114,436 shares at an average price of $79.28, reducing his ownership by 24.04% and bringing his remaining shares to 361,518.
• Cabot Corporation reported an EPS of $1.90 for the last quarter, exceeding analysts' estimates of $1.80, and has set its FY 2025 EPS guidance at 7.150-7.500.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. cut its stake in Cabot Corporation (NYSE:CBT - Free Report) by 6.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,021 shares of the specialty chemicals company's stock after selling 4,632 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.14% of Cabot worth $6,071,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Hancock Whitney Corp increased its holdings in Cabot by 19.5% in the 1st quarter. Hancock Whitney Corp now owns 169,868 shares of the specialty chemicals company's stock worth $14,123,000 after purchasing an additional 27,731 shares in the last quarter. Clark Capital Management Group Inc. boosted its position in shares of Cabot by 15.0% during the 1st quarter. Clark Capital Management Group Inc. now owns 38,768 shares of the specialty chemicals company's stock valued at $3,223,000 after purchasing an additional 5,056 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Cabot by 79.5% during the 1st quarter. AQR Capital Management LLC now owns 389,244 shares of the specialty chemicals company's stock valued at $31,626,000 after purchasing an additional 172,410 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of Cabot by 21.7% during the 1st quarter. Advisors Asset Management Inc. now owns 15,138 shares of the specialty chemicals company's stock valued at $1,259,000 after purchasing an additional 2,699 shares in the last quarter. Finally, Magnetar Financial LLC boosted its holdings in Cabot by 955.7% in the first quarter. Magnetar Financial LLC now owns 28,504 shares of the specialty chemicals company's stock worth $2,370,000 after acquiring an additional 25,804 shares in the last quarter. 93.18% of the stock is owned by institutional investors and hedge funds.

Cabot Stock Performance

Shares of NYSE CBT traded down $2.44 during mid-day trading on Friday, hitting $79.03. The company had a trading volume of 317,280 shares, compared to its average volume of 294,849. Cabot Corporation has a 1 year low of $70.40 and a 1 year high of $117.46. The stock's 50-day moving average price is $78.31 and its 200-day moving average price is $78.36. The company has a current ratio of 2.13, a quick ratio of 1.41 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $4.20 billion, a price-to-earnings ratio of 10.33 and a beta of 0.90.

Cabot (NYSE:CBT - Get Free Report) last posted its earnings results on Monday, August 4th. The specialty chemicals company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.80 by $0.10. Cabot had a return on equity of 25.68% and a net margin of 11.14%.The business had revenue of $923.00 million during the quarter, compared to analysts' expectations of $957.29 million. Cabot has set its FY 2025 guidance at 7.150-7.500 EPS. On average, sell-side analysts forecast 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 was paid on Thursday, September 11th. Investors of record on Friday, August 29th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Friday, August 29th. Cabot's payout ratio is currently 23.53%.

Analyst Upgrades and Downgrades

Separately, UBS Group set a $82.00 target price on Cabot and gave the company a "neutral" rating in a report on Tuesday, August 5th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Cabot currently has an average rating of "Hold" and an average price target of $92.33.

Insider Transactions at Cabot

In related news, CEO Sean D. Keohane sold 114,436 shares of the business'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 transaction, the chief executive officer owned 361,518 shares in the company, valued at $28,661,147.04. The trade was a 24.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.03% of the stock is currently owned by corporate insiders.

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.