Price T Rowe Associates Inc. MD Purchases 4,619 Shares of Cabot Corporation $CBT

Key Points

• Price T Rowe Associates Inc. MD increased its stake in Cabot Corporation by 1.0%, now owning 467,532 shares valued at approximately $38.87 million after purchasing an additional 4,619 shares.
• Cabot Corporation's recent earnings report showed an EPS of $1.90, surpassing analysts' expectations of $1.80, with a projected EPS of 7.57 for the current fiscal year.
• The company's board announced a quarterly dividend of $0.45 per share, yielding an annual dividend of $1.80, with a payout ratio of 23.53%.

Price T Rowe Associates Inc. MD grew its holdings in Cabot Corporation (NYSE:CBT - Free Report) by 1.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 467,532 shares of the specialty chemicals company's stock after acquiring an additional 4,619 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.86% of Cabot worth $38,872,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of CBT. Banque Cantonale Vaudoise acquired a new position in shares of Cabot during the first quarter worth about $43,000. CWM LLC boosted its position in shares of Cabot by 55.0% during the first quarter. CWM LLC now owns 600 shares of the specialty chemicals company's stock worth $50,000 after buying an additional 213 shares during the period. Brooklyn Investment Group boosted its position in shares of Cabot by 1,553.7% during the first quarter. Brooklyn Investment Group now owns 678 shares of the specialty chemicals company's stock worth $56,000 after buying an additional 637 shares during the period. Curat Global LLC acquired a new position in shares of Cabot during the first quarter worth about $83,000. Finally, Farther Finance Advisors LLC boosted its position in shares of Cabot by 1,346.4% during the first quarter. Farther Finance Advisors LLC now owns 1,620 shares of the specialty chemicals company's stock worth $136,000 after buying an additional 1,508 shares during the period. 93.18% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Sean D. Keohane sold 114,436 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $79.28, for a total value of $9,072,486.08. Following the completion of the sale, the chief executive officer directly owned 361,518 shares of the company's stock, valued at $28,661,147.04. This trade represents a 24.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 3.03% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CBT shares. UBS Group set a $82.00 price objective on Cabot and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Wall Street Zen cut Cabot from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $92.33.

Cabot Stock Performance

Shares of CBT traded down $0.75 during mid-day trading on Tuesday, reaching $80.81. The company's stock had a trading volume of 297,055 shares, compared to its average volume of 357,622. Cabot Corporation has a 1-year low of $70.40 and a 1-year high of $117.46. The stock has a market cap of $4.30 billion, a P/E ratio of 10.56 and a beta of 0.90. The business has a 50-day simple moving average of $77.77 and a two-hundred day simple moving average of $78.64. The company has a current ratio of 2.13, a quick ratio of 1.41 and a debt-to-equity ratio of 0.66.

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 (EPS) for the quarter, beating 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 company 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. As a group, equities research analysts anticipate that Cabot Corporation will post 7.57 earnings per share for the current fiscal year.

Cabot Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Friday, August 29th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, August 29th. Cabot's dividend payout ratio (DPR) is presently 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.