Russell Investments Group Ltd. Acquires 28,198 Shares of Cabot Corporation $CBT

Key Points

• Russell Investments Group Ltd. increased its stake in Cabot Corporation by 84.3%, now owning approximately 0.11% of the company valued at $5.1 million.
• Cabot's quarterly earnings were reported at $1.90 per share, exceeding analyst estimates, with revenue of $923 million compared to expectations of $957 million.
• Cabot announced a quarterly dividend of $0.45 per share, reflecting a dividend yield of 2.3% and a payout ratio of 23.53%.

Russell Investments Group Ltd. raised its position in Cabot Corporation (NYSE:CBT - Free Report) by 84.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,657 shares of the specialty chemicals company's stock after buying an additional 28,198 shares during the quarter. Russell Investments Group Ltd. owned about 0.11% of Cabot worth $5,126,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in CBT. Beverly Hills Private Wealth LLC grew its stake in Cabot by 3.6% during the first quarter. Beverly Hills Private Wealth LLC now owns 3,918 shares of the specialty chemicals company's stock valued at $326,000 after acquiring an additional 135 shares in the last quarter. Isthmus Partners LLC increased its holdings in shares of Cabot by 4.6% in the first quarter. Isthmus Partners LLC now owns 4,258 shares of the specialty chemicals company's stock worth $354,000 after purchasing an additional 186 shares during the period. CWM LLC boosted its stake in Cabot by 55.0% during the first quarter. CWM LLC now owns 600 shares of the specialty chemicals company's stock valued at $50,000 after buying an additional 213 shares during the period. GAMMA Investing LLC grew its position in Cabot by 26.1% during the first quarter. GAMMA Investing LLC now owns 1,700 shares of the specialty chemicals company's stock worth $141,000 after buying an additional 352 shares in the last quarter. Finally, Captrust Financial Advisors grew its position in Cabot by 4.4% during the fourth quarter. Captrust Financial Advisors now owns 9,489 shares of the specialty chemicals company's stock worth $866,000 after buying an additional 399 shares in the last quarter. 93.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Sean D. Keohane sold 114,436 shares of the firm's stock in a transaction 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.03% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on CBT. UBS Group set a $82.00 target price 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 assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $92.33.

Cabot Stock Up 0.5%

CBT traded up $0.45 during trading on Wednesday, hitting $82.01. 309,523 shares of the company's stock traded hands, compared to its average volume of 427,239. The company's 50 day simple moving average is $77.18 and its two-hundred day simple moving average is $78.82. 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 Corporation has a 12-month low of $70.40 and a 12-month high of $117.46. The stock has a market capitalization 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 results on Monday, August 4th. The specialty chemicals company reported $1.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.80 by $0.10. The firm had revenue of $923.00 million for the quarter, compared to the consensus estimate 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. Analysts predict that Cabot Corporation will post 7.57 earnings per share for the current fiscal year.

Cabot Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Friday, August 29th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. 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.