VIRGINIA RETIREMENT SYSTEMS ET Al Takes Position in Cabot Corporation $CBT

Key Points

• The Virginia Retirement Systems acquired 18,308 shares of Cabot Corporation, valued at approximately $1,373,000, in Q2.
• CEO Sean D. Keohane sold 114,436 shares for over $9 million, reducing his ownership stake by 24.04%.
• Analysts have set a consensus price target of $85.00 for Cabot, with ratings ranging from "Buy" to "Hold" suggesting mixed market sentiment.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Cabot Corporation (NYSE:CBT - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 18,308 shares of the specialty chemicals company's stock, valued at approximately $1,373,000.

Several other hedge funds also recently modified their holdings of CBT. LSV Asset Management increased its stake 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 valued at $47,476,000 after acquiring an additional 434,434 shares in the last quarter. American Century Companies Inc. increased its stake 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 valued at $124,566,000 after purchasing an additional 174,921 shares in the last quarter. AQR Capital Management LLC increased its stake 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 valued at $31,626,000 after purchasing an additional 172,410 shares in the last quarter. Nuveen LLC bought a new stake in Cabot during the 1st quarter valued at $12,365,000. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in Cabot by 279.2% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 160,628 shares of the specialty chemicals company's stock valued at $13,355,000 after purchasing an additional 118,266 shares in the last quarter. Institutional investors own 93.18% of the company's stock.

Insider Activity

In other news, CEO Sean D. Keohane sold 114,436 shares of the stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $79.28, for a total value of $9,072,486.08. Following the sale, the chief executive officer directly owned 361,518 shares of the company's stock, valued at approximately $28,661,147.04. This represents a 24.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 3.03% of the company's stock.

Analysts Set New Price Targets

CBT has been the subject of a number of recent research reports. UBS Group set a $82.00 price target on shares of Cabot and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Mizuho decreased their price target on shares of Cabot from $90.00 to $88.00 and set an "outperform" rating for the company in a research note on Friday, October 3rd. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Cabot in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $85.00.

Cabot Trading Up 0.0%

Shares of Cabot stock opened at $71.07 on Thursday. Cabot Corporation has a 12-month low of $66.50 and a 12-month high of $117.46. The company has a market cap of $3.78 billion, a price-to-earnings ratio of 9.29 and a beta of 0.88. 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 company's 50-day moving average price is $76.82 and its 200-day moving average price is $76.53.

Cabot (NYSE:CBT - Get Free Report) last announced 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. Cabot had a net margin of 11.14% and a return on equity of 25.68%. The firm had revenue of $923.00 million for the quarter, compared to the consensus estimate of $957.29 million. Cabot has set its FY 2025 guidance at 7.150-7.500 EPS. On average, equities 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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