Strs Ohio Invests $366,000 in Cabot Corporation $CBT

Key Points

• Strs Ohio has initiated a position in Cabot Corporation, purchasing 4,400 shares valued at approximately $366,000.
• CEO Sean D. Keohane sold 114,436 shares at an average price of $79.28, reducing his ownership by 24.04%.
• Cabot Corporation reported earnings of $1.90 per share, exceeding analyst expectations, while they set FY 2025 guidance between $7.150-$7.500 EPS.

Strs Ohio bought a new position in Cabot Corporation (NYSE:CBT - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 4,400 shares of the specialty chemicals company's stock, valued at approximately $366,000.

Other institutional investors have also added to or reduced their stakes in the company. LSV Asset Management grew its position in shares of Cabot by 318.0% in the 1st quarter. LSV Asset Management now owns 571,034 shares of the specialty chemicals company's stock worth $47,476,000 after buying an additional 434,434 shares during the last quarter. American Century Companies Inc. grew its position in Cabot by 13.2% during the 1st quarter. American Century Companies Inc. now owns 1,498,268 shares of the specialty chemicals company's stock worth $124,566,000 after purchasing an additional 174,921 shares during the last quarter. AQR Capital Management LLC grew its position in Cabot by 79.5% during the 1st quarter. AQR Capital Management LLC now owns 389,244 shares of the specialty chemicals company's stock worth $31,626,000 after purchasing an additional 172,410 shares during the last quarter. Nuveen LLC purchased a new stake in Cabot during the 1st quarter worth approximately $12,365,000. Finally, GAMMA Investing LLC grew its position in Cabot by 10,385.0% during the 1st quarter. GAMMA Investing LLC now owns 141,338 shares of the specialty chemicals company's stock worth $11,751,000 after purchasing an additional 139,990 shares during the last quarter. Hedge funds and other institutional investors own 93.18% of the company's stock.

Insider Buying and Selling

In other Cabot 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 completion of the sale, the chief executive officer 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.03% of the company's stock.

Cabot Stock Performance

Shares of CBT opened at $76.28 on Tuesday. The company has a current ratio of 2.13, a quick ratio of 1.41 and a debt-to-equity ratio of 0.66. The firm has a market cap of $4.06 billion, a PE ratio of 9.97 and a beta of 0.90. The company's 50 day simple moving average is $78.25 and its 200-day simple moving average is $78.01. Cabot Corporation has a 12-month low of $70.40 and a 12-month high of $117.46.

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

Cabot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Friday, August 29th were issued a $0.45 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $1.80 dividend on an annualized basis and a yield of 2.4%. Cabot's dividend payout ratio (DPR) is 23.53%.

Analyst Upgrades and Downgrades

Separately, UBS Group set a $82.00 price objective on shares of Cabot and gave the company a "neutral" rating in a research note on Tuesday, August 5th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Cabot has an average rating of "Hold" and an average target price of $92.33.

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.

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