Canada Pension Plan Investment Board Purchases New Shares in Cabot Corporation $CBT

Canada Pension Plan Investment Board purchased a new position in Cabot Corporation (NYSE:CBT) during the second quarter, Holdings Channel.com reports. The firm purchased 9,200 shares of the specialty chemicals company’s stock, valued at approximately $836,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of Cabot in the second quarter worth approximately $633,302,000. Norges Bank purchased a new stake in shares of Cabot in the 4th quarter valued at approximately $49,662,000. Bank of New York Mellon Corp purchased a new stake in shares of Cabot in the 2nd quarter valued at approximately $57,445,000. AQR Capital Management LLC boosted its stake in Cabot by 123.0% in the 2nd quarter. AQR Capital Management LLC now owns 867,946 shares of the specialty chemicals company’s stock worth $65,096,000 after purchasing an additional 478,702 shares during the period. Finally, UBS Group AG grew its position in Cabot by 186.7% during the 3rd quarter. UBS Group AG now owns 593,510 shares of the specialty chemicals company’s stock worth $45,136,000 after purchasing an additional 386,514 shares in the last quarter. Institutional investors and hedge funds own 93.18% of the company’s stock.

Insider Buying and Selling at Cabot

In other news, CEO Sean D. Keohane sold 134,895 shares of Cabot stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $85.00, for a total transaction of $11,466,075.00. Following the completion of the sale, the chief executive officer directly owned 404,134 shares in the company, valued at $34,351,390. The trade was a 25.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders sold 229,597 shares of company stock worth $19,646,746. 3.08% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on CBT. Weiss Ratings restated a “hold (c)” rating on shares of Cabot in a report on Friday, August 21st. Mizuho increased their price objective on Cabot from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, June 25th. UBS Group decreased their price objective on Cabot from $97.00 to $92.00 and set a “neutral” rating for the company in a research report on Wednesday, August 5th. Truist Financial set a $100.00 target price on Cabot in a report on Wednesday, August 5th. Finally, Wall Street Zen raised shares of Cabot from a “hold” rating to a “buy” rating in a research report on Sunday, August 9th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $89.00.

Cabot Trading Down 1.1%

Cabot stock opened at $82.72 on Tuesday. Cabot Corporation has a 12 month low of $58.33 and a 12 month high of $94.53. The company has a quick ratio of 0.97, a current ratio of 1.47 and a debt-to-equity ratio of 0.48. The stock has a market cap of $4.27 billion, a P/E ratio of 23.30, a P/E/G ratio of 10.98 and a beta of 0.84. The company’s fifty day simple moving average is $87.46 and its 200-day simple moving average is $81.29.

Cabot (NYSE:CBT) last announced its quarterly earnings data on Monday, August 3rd. The specialty chemicals company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.01. The business had revenue of $982.00 million during the quarter, compared to analyst estimates of $943.16 million. Cabot had a return on equity of 20.29% and a net margin of 5.23%.Cabot’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period last year, the company earned $1.90 earnings per share. Cabot has set its FY 2026 guidance at 6.150-6.450 EPS. As a group, sell-side analysts forecast that Cabot Corporation will post 6.35 EPS for the current fiscal year.

Cabot Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 28th will be paid a dividend of $0.4725 per share. The ex-dividend date of this dividend is Friday, August 28th. This represents a $1.89 dividend on an annualized basis and a dividend yield of 2.3%. Cabot’s dividend payout ratio (DPR) is 53.24%.

About Cabot

Cabot Corporation is a global specialty chemicals and performance materials company headquartered in Boston, Massachusetts. Founded in 1882 by Godfrey Lowell Cabot, the company has grown into a diversified manufacturer with operations across North America, Europe, Asia and Latin America. Cabot serves a wide range of end markets, including automotive, industrial, energy, and consumer products, supplying essential ingredients that enhance performance, durability and functionality.

The company operates two primary segments: Reinforcement Materials and Performance Materials.