Cabot Corporation $CBT Shares Sold by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

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

Other hedge funds and other institutional investors have also recently modified their holdings of the company. QRG Capital Management Inc. purchased a new position in shares of Cabot in the 1st quarter valued at $482,000. SG Americas Securities LLC acquired a new position in Cabot during the 1st quarter valued at approximately $1,102,000. GAMMA Investing LLC raised its stake in Cabot by 26.1% in the 1st quarter. GAMMA Investing LLC now owns 1,700 shares of the specialty chemicals company's stock worth $141,000 after acquiring an additional 352 shares during the last quarter. KBC Group NV raised 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 worth $224,000 after purchasing an additional 644 shares during the last quarter. Finally, Janney Montgomery Scott LLC acquired a new stake in Cabot during the 1st quarter valued at approximately $975,000. 93.18% of the stock is currently owned by institutional investors.

Cabot Price Performance

Shares of NYSE:CBT traded down $0.79 during midday trading on Tuesday, hitting $78.14. The company's stock had a trading volume of 306,217 shares, compared to its average volume of 285,641. The company has a market cap of $4.16 billion, a P/E ratio of 10.21 and a beta of 0.90. The business's 50 day simple moving average is $78.36 and its 200 day simple moving average is $78.20. Cabot Corporation has a 12-month low of $70.40 and a 12-month high of $117.46. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.41 and a current ratio of 2.13.

Cabot (NYSE:CBT - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The specialty chemicals company reported $1.90 EPS 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 firm had revenue of $923.00 million for 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, analysts forecast that Cabot Corporation will post 7.57 EPS for the current year.

Cabot Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Friday, August 29th were given 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 dividend payout ratio (DPR) is currently 23.53%.

Insiders Place Their Bets

In other news, CEO Sean D. Keohane sold 114,436 shares of the stock in a transaction dated 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 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.03% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

Cabot Company 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.