Fifth Third Bancorp Sells 875 Shares of Cabot Corporation $CBT

Fifth Third Bancorp lessened its stake in Cabot Corporation (NYSE:CBT) by 5.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,367 shares of the specialty chemicals company’s stock after selling 875 shares during the quarter. Fifth Third Bancorp’s holdings in Cabot were worth $1,078,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of CBT. QRG Capital Management Inc. acquired a new position in shares of Cabot in the 1st quarter valued at approximately $482,000. SG Americas Securities LLC acquired a new position in Cabot during the first quarter valued at approximately $1,102,000. GAMMA Investing LLC lifted its stake in Cabot by 26.1% during the first quarter. GAMMA Investing LLC now owns 1,700 shares of the specialty chemicals company’s stock worth $141,000 after purchasing an additional 352 shares during the last quarter. KBC Group NV boosted its holdings in shares of Cabot by 31.5% in the 1st quarter. KBC Group NV now owns 2,690 shares of the specialty chemicals company’s stock valued at $224,000 after purchasing an additional 644 shares in the last quarter. Finally, Janney Montgomery Scott LLC bought a new position in shares of Cabot in the 1st quarter valued at $975,000. 93.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, UBS Group set a $82.00 price objective on Cabot and gave the stock a “neutral” rating in a research report on Tuesday, August 5th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $92.33.

Cabot Stock Up 2.4%

Shares of CBT opened at $77.33 on Monday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.41 and a current ratio of 2.13. Cabot Corporation has a 52 week low of $70.40 and a 52 week high of $117.46. The stock has a market capitalization of $4.11 billion, a price-to-earnings ratio of 10.11 and a beta of 0.90. The stock has a fifty day moving average of $78.29 and a 200-day moving average of $77.81.

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

Cabot Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Friday, August 29th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Friday, August 29th. Cabot’s dividend payout ratio (DPR) is 23.53%.

Insider Buying and Selling

In other Cabot news, CEO Sean D. Keohane sold 114,436 shares of the business’s stock in a transaction that occurred 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 $28,661,147.04. The trade was a 24.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.03% of the stock is currently owned by corporate insiders.

About Cabot

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.