Nuveen LLC Takes $12.37 Million Position in Cabot Corporation $CBT

Key Points

• Nuveen LLC acquired a new position in Cabot Corporation, purchasing 148,727 shares valued at approximately $12.36 million, representing about 0.27% of the company's total shares.
• Analysts have given Cabot a consensus rating of "Hold," with a target price of $92.33, following a downgrade from "Buy" to "Hold" by Wall Street Zen.
• Cabot announced a quarterly dividend of $0.45 per share, with an annualized yield of 2.3%, which will be paid on September 11th to shareholders of record by August 29th.

Nuveen LLC bought a new position in shares of Cabot Corporation (NYSE:CBT - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 148,727 shares of the specialty chemicals company's stock, valued at approximately $12,365,000. Nuveen LLC owned 0.27% of Cabot at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CBT. LSV Asset Management boosted 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 purchasing an additional 434,434 shares during the period. Millennium Management LLC boosted its stake in shares of Cabot by 67.7% in the fourth quarter. Millennium Management LLC now owns 349,369 shares of the specialty chemicals company's stock valued at $31,901,000 after purchasing an additional 141,050 shares during the period. GAMMA Investing LLC boosted its stake in shares of Cabot by 10,385.0% in the first quarter. GAMMA Investing LLC now owns 141,338 shares of the specialty chemicals company's stock valued at $11,751,000 after purchasing an additional 139,990 shares during the period. Northern Trust Corp boosted its stake in shares of Cabot by 12.4% in the fourth quarter. Northern Trust Corp now owns 794,477 shares of the specialty chemicals company's stock valued at $72,544,000 after purchasing an additional 87,881 shares during the period. Finally, Twinbeech Capital LP purchased a new position in shares of Cabot in the fourth quarter valued at approximately $7,352,000. Hedge funds and other institutional investors own 93.18% of the company's stock.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Cabot news, CEO Sean D. Keohane sold 114,436 shares of the firm's stock in a transaction that occurred 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 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.03% of the company's stock.

Cabot Stock Up 0.5%

CBT stock traded up $0.45 during midday trading on Wednesday, reaching $82.01. 309,523 shares of the company were exchanged, compared to its average volume of 427,239. 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 Corporation has a 1-year low of $70.40 and a 1-year high of $117.46. The stock's 50-day simple moving average is $77.18 and its 200 day simple moving average is $78.82. The company has a market cap of $4.36 billion, a price-to-earnings ratio of 10.72 and a beta of 0.87.

Cabot (NYSE:CBT - Get Free Report) last released its quarterly earnings data 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 net margin of 11.14% and a return on equity of 25.68%. The company had revenue of $923.00 million for 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, equities analysts forecast that Cabot Corporation will post 7.57 earnings per share for the current year.

Cabot Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders 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 yield of 2.2%. Cabot's payout ratio is currently 23.53%.

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.