Cabot Corporation $CBT Shares Sold by Bayforest Capital Ltd

Bayforest Capital Ltd trimmed its position in Cabot Corporation (NYSE:CBT) by 54.1% in the first quarter, Holdings Channel reports. The firm owned 1,502 shares of the specialty chemicals company’s stock after selling 1,769 shares during the quarter. Bayforest Capital Ltd’s holdings in Cabot were worth $125,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Beverly Hills Private Wealth LLC grew its stake in Cabot by 3.6% in the first quarter. Beverly Hills Private Wealth LLC now owns 3,918 shares of the specialty chemicals company’s stock worth $326,000 after purchasing an additional 135 shares in the last quarter. Keeley Teton Advisors LLC boosted its stake in Cabot by 1.0% in the first quarter. Keeley Teton Advisors LLC now owns 16,756 shares of the specialty chemicals company’s stock valued at $1,393,000 after acquiring an additional 174 shares during the period. Isthmus Partners LLC boosted its stake in Cabot by 4.6% in the first quarter. Isthmus Partners LLC now owns 4,258 shares of the specialty chemicals company’s stock valued at $354,000 after acquiring an additional 186 shares during the period. CWM LLC boosted its stake in Cabot by 55.0% in the first quarter. CWM LLC now owns 600 shares of the specialty chemicals company’s stock valued at $50,000 after acquiring an additional 213 shares during the period. Finally, Campbell & CO Investment Adviser LLC boosted its stake in Cabot by 1.0% in the first quarter. Campbell & CO Investment Adviser LLC now owns 23,601 shares of the specialty chemicals company’s stock valued at $1,962,000 after acquiring an additional 236 shares during the period. 93.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cabot

In related news, CEO Sean D. Keohane sold 114,436 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 361,518 shares of the company’s stock, valued at $28,661,147.04. This represents a 24.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.03% of the stock is owned by company insiders.

Analyst Ratings Changes

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

Cabot Stock Performance

Shares of CBT stock opened at $79.03 on Friday. Cabot Corporation has a 12-month low of $70.40 and a 12-month high of $117.46. The firm has a market capitalization of $4.20 billion, a price-to-earnings ratio of 10.33 and a beta of 0.90. The business has a 50 day simple moving average of $78.31 and a 200 day simple moving average of $78.36. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.13 and a quick ratio of 1.41.

Cabot (NYSE:CBT) last issued its quarterly earnings data 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 return on equity of 25.68% and a net margin of 11.14%.The business had revenue of $923.00 million during the quarter, compared to analyst estimates of $957.29 million. Cabot has set its FY 2025 guidance at 7.150-7.500 EPS. On average, equities research analysts anticipate that Cabot Corporation will post 7.57 EPS for the current year.

Cabot Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Friday, August 29th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Friday, August 29th. Cabot’s dividend payout ratio is 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.