State of Wyoming Increases Position in Cabot Corporation $CBT

Key Points

• The State of Wyoming significantly increased its stake in Cabot Corporation by 133.3%, acquiring an additional 3,254 shares to reach a total of 5,695 shares valued at $473,000 by the end of the quarter.
• CEO Sean D. Keohane sold 114,436 shares of Cabot stock, decreasing his position by 24.04%, and now holds 361,518 shares worth approximately $28.66 million.
• Cabot Corporation announced a quarterly dividend of $0.45 per share, representing an annualized return of 2.2%, with a payout ratio of 23.53%.

State of Wyoming grew its stake in Cabot Corporation (NYSE:CBT - Free Report) by 133.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,695 shares of the specialty chemicals company's stock after acquiring an additional 3,254 shares during the quarter. State of Wyoming's holdings in Cabot were worth $473,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Beverly Hills Private Wealth LLC increased its holdings in shares of Cabot by 3.6% in the 1st 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 during the period. Keeley Teton Advisors LLC boosted its position in shares of Cabot by 1.0% in the 1st quarter. Keeley Teton Advisors LLC now owns 16,756 shares of the specialty chemicals company's stock worth $1,393,000 after purchasing an additional 174 shares in the last quarter. Isthmus Partners LLC boosted its position in shares of Cabot by 4.6% in the 1st 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 in the last quarter. CWM LLC boosted its position in shares of Cabot by 55.0% in the 1st quarter. CWM LLC now owns 600 shares of the specialty chemicals company's stock worth $50,000 after purchasing an additional 213 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC boosted its position in shares of Cabot by 1.0% in the 1st quarter. Campbell & CO Investment Adviser LLC now owns 23,601 shares of the specialty chemicals company's stock worth $1,962,000 after purchasing an additional 236 shares in the last quarter. 93.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Cabot news, CEO Sean D. Keohane sold 114,436 shares of Cabot 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 completion of the sale, the chief executive officer owned 361,518 shares of the company's stock, valued at approximately $28,661,147.04. The trade was a 24.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 3.03% of the company's stock.

Cabot Stock Performance

Shares of CBT opened at $81.55 on Friday. The stock has a 50-day moving average of $77.53 and a two-hundred day moving average of $78.71. Cabot Corporation has a one year low of $70.40 and a one year high of $117.46. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.41 and a current ratio of 2.13. The stock has a market cap of $4.34 billion, a P/E ratio of 10.66 and a beta of 0.87.

Cabot (NYSE:CBT - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The specialty chemicals company reported $1.90 EPS for the quarter, topping 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, research analysts predict that Cabot Corporation will post 7.57 EPS for the current year.

Cabot Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Friday, August 29th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.80 dividend on an annualized basis and a yield of 2.2%. Cabot's payout ratio is currently 23.53%.

Wall Street Analyst Weigh In

A number of 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $92.33.

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.

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