Raymond James Financial Inc. Sells 834 Shares of Cabot Corporation $CBT

Raymond James Financial Inc. trimmed its position in Cabot Corporation (NYSE:CBT) by 1.5% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 54,545 shares of the specialty chemicals company’s stock after selling 834 shares during the period. Raymond James Financial Inc. owned about 0.10% of Cabot worth $4,535,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of CBT. LSV Asset Management boosted its position in Cabot by 318.0% in the 1st quarter. LSV Asset Management now owns 571,034 shares of the specialty chemicals company’s stock valued at $47,476,000 after buying an additional 434,434 shares during the last quarter. American Century Companies Inc. boosted its position in Cabot by 13.2% in the 1st quarter. American Century Companies Inc. now owns 1,498,268 shares of the specialty chemicals company’s stock valued at $124,566,000 after buying an additional 174,921 shares during the last quarter. Nuveen LLC bought a new position in shares of Cabot in the 1st quarter worth $12,365,000. Millennium Management LLC boosted its position in shares of Cabot by 67.7% in the 4th quarter. Millennium Management LLC now owns 349,369 shares of the specialty chemicals company’s stock worth $31,901,000 after purchasing an additional 141,050 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Cabot by 10,385.0% in the 1st quarter. GAMMA Investing LLC now owns 141,338 shares of the specialty chemicals company’s stock worth $11,751,000 after purchasing an additional 139,990 shares during the last quarter. 93.18% of the stock is currently owned by institutional investors.

Cabot Trading Down 0.1%

CBT opened at $80.95 on Friday. The stock has a market capitalization of $4.31 billion, a PE ratio of 10.58 and a beta of 0.90. The firm’s fifty day moving average price is $78.06 and its 200 day moving average price is $78.56. 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 Corporation has a 12-month low of $70.40 and a 12-month high of $117.46.

Cabot (NYSE:CBT) last posted its quarterly earnings results on Monday, August 4th. The specialty chemicals company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.10. The firm had revenue of $923.00 million for the quarter, compared to analysts’ expectations of $957.29 million. Cabot had a net margin of 11.14% and a return on equity of 25.68%. Cabot has set its FY 2025 guidance at 7.150-7.500 EPS. As a group, research analysts expect that Cabot Corporation will post 7.57 EPS for the current fiscal year.

Cabot Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, August 29th. Cabot’s dividend payout ratio is 23.53%.

Insider Buying and Selling at Cabot

In other Cabot news, CEO Sean D. Keohane sold 114,436 shares of the stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $79.28, for a total transaction of $9,072,486.08. Following the sale, the chief executive officer directly owned 361,518 shares of the company’s stock, valued at approximately $28,661,147.04. This represents a 24.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.03% of the company’s stock.

Wall Street Analyst Weigh In

Separately, UBS Group set a $82.00 price target on Cabot and gave the stock a “neutral” rating in a research report on Tuesday, August 5th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target 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.