VIRGINIA RETIREMENT SYSTEMS ET Al Takes $1.88 Million Position in Cabot Corporation $CBT

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Cabot Corporation (NYSE:CBT) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 20,708 shares of the specialty chemicals company’s stock, valued at approximately $1,881,000.

A number of other hedge funds have also bought and sold shares of CBT. Rothschild Investment LLC raised its stake in Cabot by 170.4% in the 4th quarter. Rothschild Investment LLC now owns 411 shares of the specialty chemicals company’s stock worth $27,000 after purchasing an additional 259 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Cabot during the 2nd quarter worth approximately $33,000. Global Retirement Partners LLC increased its holdings in shares of Cabot by 1,606.9% during the fourth quarter. Global Retirement Partners LLC now owns 495 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 466 shares during the period. Geneos Wealth Management Inc. increased its holdings in shares of Cabot by 409.0% during the first quarter. Geneos Wealth Management Inc. now owns 453 shares of the specialty chemicals company’s stock worth $38,000 after purchasing an additional 364 shares during the period. Finally, Danske Bank A S acquired a new stake in shares of Cabot in the third quarter valued at approximately $38,000. 93.18% of the stock is owned by institutional investors.

Cabot Stock Performance

NYSE CBT opened at $79.83 on Friday. The company has a current ratio of 1.47, a quick ratio of 0.97 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $4.12 billion, a price-to-earnings ratio of 22.49, a P/E/G ratio of 10.34 and a beta of 0.83. The firm’s 50 day simple moving average is $85.86 and its 200 day simple moving average is $81.56. Cabot Corporation has a 1 year low of $58.33 and a 1 year high of $94.53.

Cabot (NYSE:CBT) last announced its quarterly earnings data on Monday, August 3rd. The specialty chemicals company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.66 by $0.01. Cabot had a net margin of 5.23% and a return on equity of 20.29%. The business had revenue of $982.00 million during the quarter, compared to the consensus estimate of $943.16 million. During the same period in the previous year, the business earned $1.90 earnings per share. The company’s revenue was up 6.4% on a year-over-year basis. Cabot has set its FY 2026 guidance at 6.150-6.450 EPS. As a group, research analysts expect 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 was paid on Friday, September 11th. Stockholders of record on Friday, August 28th were issued a dividend of $0.4725 per share. The ex-dividend date of this dividend was Friday, August 28th. This represents a $1.89 dividend on an annualized basis and a dividend yield of 2.4%. Cabot’s payout ratio is 53.24%.

Wall Street Analyst Weigh In

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

Insider Activity at Cabot

In related news, CEO Sean Keohane sold 134,895 shares of the company’s stock in a transaction on 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. This represents a 25.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders sold 229,597 shares of company stock worth $19,646,746. 3.08% of the stock is currently owned by insiders.

Cabot Company Profile

Cabot Corporation (NYSE: CBT) is a global specialty chemicals and performance materials company. Its products are used by manufacturers in transportation, infrastructure, energy, electronics, consumer goods, and other industrial markets.

Cabot’s Reinforcement Materials business produces carbon black and other materials used to reinforce tires, automotive components, industrial rubber products, and plastics. Its Performance Chemicals business supplies specialty carbon blacks, fumed metal oxides, inkjet colorants, conductive compounds, masterbatch products, and related materials used to modify the color, conductivity, strength, durability, and processing characteristics of finished products.

Founded in 1882, Cabot operates research, manufacturing, and commercial facilities serving customers in North America, South America, Europe, Asia, and other international markets.