Ritholtz Wealth Management Reduces Stock Position in Cabot Corporation $CBT

Key Points

• Ritholtz Wealth Management has significantly reduced its stake in Cabot Corporation by 69.6%, now holding 3,110 shares worth approximately $233,000 as of the end of Q2.
• CEO Sean D. Keohane sold 114,436 shares of Cabot stock for over $9 million, marking a 24.04% decrease in his ownership of the company.
• Recent analyst ratings have shown a mixed sentiment on Cabot, with one "Buy," two "Hold," and one "Sell" rating, while the average target price is set at $85.00.

Ritholtz Wealth Management lowered its stake in shares of Cabot Corporation (NYSE:CBT - Free Report) by 69.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,110 shares of the specialty chemicals company's stock after selling 7,135 shares during the period. Ritholtz Wealth Management's holdings in Cabot were worth $233,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Geneos Wealth Management Inc. lifted its position in shares of Cabot by 409.0% during the first quarter. Geneos Wealth Management Inc. now owns 453 shares of the specialty chemicals company's stock worth $38,000 after acquiring an additional 364 shares in the last quarter. Banque Cantonale Vaudoise purchased a new stake in shares of Cabot during the first quarter worth $43,000. CWM LLC lifted 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 acquiring an additional 213 shares in the last quarter. Brooklyn Investment Group raised its position in shares of Cabot by 1,553.7% in 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 in the last quarter. Finally, UMB Bank n.a. raised its position in shares of Cabot by 52.4% in the second quarter. UMB Bank n.a. now owns 730 shares of the specialty chemicals company's stock worth $55,000 after buying an additional 251 shares in the last quarter. Hedge funds and other institutional investors own 93.18% of the company's stock.

Insider Buying and Selling

In other news, CEO Sean D. Keohane sold 114,436 shares of the firm'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 directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.03% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on CBT shares. Mizuho lowered their price objective on Cabot from $90.00 to $88.00 and set an "outperform" rating on the stock in a research report on Friday, October 3rd. Weiss Ratings reiterated a "hold (c)" rating on shares of Cabot in a research report on Wednesday, October 8th. Finally, 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. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $85.00.

Cabot Stock Up 0.6%

CBT opened at $71.05 on Wednesday. The stock has a market cap of $3.78 billion, a PE ratio of 9.29 and a beta of 0.88. The company has a quick ratio of 1.41, a current ratio of 2.13 and a debt-to-equity ratio of 0.66. Cabot Corporation has a 52 week low of $66.50 and a 52 week high of $117.46. The business's fifty day simple moving average is $77.04 and its 200 day simple moving average is $76.56.

Cabot (NYSE:CBT - Get Free Report) last released its earnings results on Monday, August 4th. The specialty chemicals company reported $1.90 EPS for the quarter, beating analysts' consensus estimates of $1.80 by $0.10. The business had revenue of $923.00 million for the quarter, compared to analysts' expectations of $957.29 million. Cabot had a return on equity of 25.68% and a net margin of 11.14%. Cabot has set its FY 2025 guidance at 7.150-7.500 EPS. As a group, research analysts expect that Cabot Corporation will post 7.57 earnings per share for the current fiscal year.

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.

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