Prudential PLC Takes $1.67 Million Position in Cabot Corporation (NYSE:CBT)

Key Points

• Prudential PLC has acquired a new stake in Cabot Corporation, purchasing 20,053 shares valued at approximately $1.67 million.
• Cabot Corporation reported a quarterly earnings per share (EPS) of $1.90, exceeding estimates, and the company also recently announced a quarterly dividend of $0.45 per share.
• Institutional investors now hold 93.18% of Cabot Corporation's stock, indicating strong confidence in the company's financial stability and growth potential.

Prudential PLC bought a new position in shares of Cabot Corporation (NYSE:CBT - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 20,053 shares of the specialty chemicals company's stock, valued at approximately $1,667,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise bought a new stake in Cabot during the first quarter worth approximately $43,000. CWM LLC boosted its position in shares of Cabot by 55.0% during the 1st quarter. CWM LLC now owns 600 shares of the specialty chemicals company's stock valued at $50,000 after purchasing an additional 213 shares in the last quarter. Curat Global LLC bought a new position in shares of Cabot during the 1st quarter valued at about $83,000. Farther Finance Advisors LLC boosted its position in shares of Cabot by 1,346.4% during the 1st quarter. Farther Finance Advisors LLC now owns 1,620 shares of the specialty chemicals company's stock valued at $136,000 after purchasing an additional 1,508 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Cabot by 26.1% during the 1st quarter. GAMMA Investing LLC now owns 1,700 shares of the specialty chemicals company's stock valued at $141,000 after purchasing an additional 352 shares in the last quarter. Institutional investors own 93.18% of the company's stock.

Analysts Set New Price Targets

CBT has been the subject of a number of research reports. Wall Street Zen cut 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 stock a "neutral" rating in a research note on Tuesday, August 5th.

Insider Activity

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 transaction of $9,072,486.08. Following the completion of the sale, the chief executive officer owned 361,518 shares of the company's stock, valued at $28,661,147.04. This trade represents a 24.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 3.03% of the stock is owned by company insiders.

Cabot Trading Down 1.6%

Cabot stock traded down $1.25 during midday trading on Friday, reaching $78.20. The stock had a trading volume of 497,956 shares, compared to its average volume of 428,762. The firm's fifty day simple moving average is $76.36 and its two-hundred day simple moving average is $79.11. Cabot Corporation has a twelve month low of $70.40 and a twelve month high of $117.46. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.13 and a quick ratio of 1.41. The firm has a market cap of $4.16 billion, a price-to-earnings ratio of 10.22 and a beta of 0.87.

Cabot (NYSE:CBT - Get Free Report) last issued its earnings results 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. The company had revenue of $923.00 million during the quarter, compared to analyst estimates of $957.29 million. Cabot had a net margin of 11.14% and a return on equity of 25.68%. Equities analysts anticipate that Cabot Corporation will post 7.57 EPS for the current fiscal year.

Cabot Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Friday, August 29th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.3%. Cabot's dividend payout ratio (DPR) is currently 23.53%.

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.