Cabot Corporation $CBT Shares Sold by Consolidated Planning Corp

Consolidated Planning Corp lessened its holdings in shares of Cabot Corporation (NYSE:CBT) by 13.2% during the 2nd quarter, Holdings Channel.com reports. The fund owned 8,182 shares of the specialty chemicals company’s stock after selling 1,249 shares during the period. Consolidated Planning Corp’s holdings in Cabot were worth $614,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in CBT. American Century Companies Inc. increased its holdings in shares of Cabot by 13.2% in the first 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 during the period. Dimensional Fund Advisors LP grew its holdings in Cabot by 8.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,426,693 shares of the specialty chemicals company’s stock worth $118,606,000 after acquiring an additional 108,397 shares during the period. Fuller & Thaler Asset Management Inc. grew its holdings in Cabot by 1.7% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,190,886 shares of the specialty chemicals company’s stock worth $99,010,000 after acquiring an additional 19,333 shares during the period. Copeland Capital Management LLC grew its holdings in Cabot by 5.8% during the first quarter. Copeland Capital Management LLC now owns 805,504 shares of the specialty chemicals company’s stock worth $66,970,000 after acquiring an additional 44,132 shares during the period. Finally, LSV Asset Management grew its holdings in Cabot by 318.0% during the first quarter. LSV Asset Management now owns 571,034 shares of the specialty chemicals company’s stock worth $47,476,000 after acquiring an additional 434,434 shares during the period. Hedge funds and other institutional investors own 93.18% of the company’s stock.

Cabot Stock Up 0.4%

CBT opened at $75.60 on Friday. The business’s fifty day moving average is $78.24 and its two-hundred day moving average is $77.67. 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 company has a market cap of $4.02 billion, a price-to-earnings ratio of 9.88 and a beta of 0.88. Cabot Corporation has a one year low of $70.40 and a one year high of $117.46.

Cabot (NYSE:CBT) last posted its 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. The company 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 anticipate that Cabot Corporation will post 7.57 EPS for the current fiscal year.

Cabot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Friday, August 29th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Friday, August 29th. Cabot’s payout ratio is presently 23.53%.

Insider Activity

In other news, CEO Sean D. Keohane sold 114,436 shares of the company’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 sale, the chief executive officer directly owned 361,518 shares in the company, valued at $28,661,147.04. This represents a 24.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.03% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, UBS Group set a $82.00 price objective on Cabot and gave the stock a “neutral” rating in a report on Tuesday, August 5th. One 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average 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.