Lazard Asset Management LLC Raises Stock Holdings in Cabot Corporation $CBT

Lazard Asset Management LLC lifted its holdings in Cabot Corporation (NYSE:CBT) by 96.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,219 shares of the specialty chemicals company’s stock after buying an additional 21,194 shares during the quarter. Lazard Asset Management LLC’s holdings in Cabot were worth $3,255,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CBT. Lombard Odier Asset Management USA Corp bought a new position in shares of Cabot during the first quarter valued at $283,000. Morningstar Investment Management LLC grew its stake in shares of Cabot by 47.6% in the first quarter. Morningstar Investment Management LLC now owns 8,681 shares of the specialty chemicals company’s stock worth $654,000 after acquiring an additional 2,799 shares during the period. Sei Investments Co. grew its position in Cabot by 6.5% in the 1st quarter. Sei Investments Co. now owns 1,051,578 shares of the specialty chemicals company’s stock worth $79,194,000 after purchasing an additional 64,122 shares during the period. Cetera Investment Advisers grew its holdings in shares of Cabot by 6.5% in the first quarter. Cetera Investment Advisers now owns 34,134 shares of the specialty chemicals company’s stock worth $2,571,000 after acquiring an additional 2,079 shares during the period. Finally, First Trust Advisors LP grew its stake in shares of Cabot by 58.0% during the 1st quarter. First Trust Advisors LP now owns 148,603 shares of the specialty chemicals company’s stock valued at $11,191,000 after purchasing an additional 54,571 shares during the period. Hedge funds and other institutional investors own 93.18% of the company’s stock.

Analysts Set New Price Targets

CBT has been the subject of a number of recent research reports. Wall Street Zen downgraded shares of Cabot from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings reiterated a “hold (c)” rating on shares of Cabot in a research report on Tuesday, May 26th. JPMorgan Chase & Co. boosted their price target on Cabot from $68.00 to $70.00 and gave the company an “underweight” rating in a report on Wednesday, May 13th. Mizuho upped their price target on Cabot from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday, June 25th. Finally, Truist Financial assumed coverage on Cabot in a research note on Monday, June 8th. They issued a “buy” rating and a $98.00 price objective on the stock. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $85.80.

Cabot Stock Performance

CBT opened at $88.11 on Friday. The firm has a market cap of $4.55 billion, a P/E ratio of 16.66, a PEG ratio of 11.46 and a beta of 0.83. Cabot Corporation has a 1-year low of $58.33 and a 1-year high of $94.53. The company has a 50 day simple moving average of $87.89 and a two-hundred day simple moving average of $79.39. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.45 and a quick ratio of 0.96.

Cabot (NYSE:CBT) last announced its quarterly earnings data on Tuesday, May 5th. The specialty chemicals company reported $1.61 EPS for the quarter, beating the consensus estimate of $1.47 by $0.14. The firm had revenue of $904.00 million for the quarter, compared to the consensus estimate of $900.30 million. Cabot had a net margin of 7.97% and a return on equity of 21.33%. The company’s revenue was down 3.4% on a year-over-year basis. During the same period last year, the firm earned $1.90 EPS. Cabot has set its FY 2026 guidance at 6.000-6.50 EPS. Equities analysts forecast that Cabot Corporation will post 6.35 earnings per share for the current fiscal year.

Cabot Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 28th will be paid a $0.4725 dividend. This represents a $1.89 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Friday, August 28th. Cabot’s dividend payout ratio is presently 35.73%.

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.