Peregrine Capital Management LLC Sells 6,929 Shares of Cabot Corporation $CBT

Peregrine Capital Management LLC trimmed its position in shares of Cabot Corporation (NYSE:CBT) by 8.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 72,219 shares of the specialty chemicals company’s stock after selling 6,929 shares during the quarter. Peregrine Capital Management LLC owned 0.14% of Cabot worth $5,439,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in CBT. Norges Bank bought a new stake in shares of Cabot in the 4th quarter worth about $49,662,000. AQR Capital Management LLC boosted its stake in shares of Cabot by 123.0% during 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. UBS Group AG grew its holdings in Cabot by 186.7% during the 3rd quarter. UBS Group AG now owns 593,510 shares of the specialty chemicals company’s stock valued at $45,136,000 after purchasing an additional 386,514 shares during the last quarter. Pacer Advisors Inc. raised its position in Cabot by 3,165.7% in the 4th quarter. Pacer Advisors Inc. now owns 229,252 shares of the specialty chemicals company’s stock worth $15,195,000 after purchasing an additional 222,232 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Cabot in the 4th quarter worth about $8,785,000. Hedge funds and other institutional investors own 93.18% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CBT. Weiss Ratings reissued a “hold (c)” rating on shares of Cabot in a research note on Tuesday, May 26th. UBS Group increased their price target on Cabot from $81.00 to $86.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Truist Financial initiated coverage on Cabot in a research note on Monday, June 8th. They set a “buy” rating and a $98.00 price target for the company. Wall Street Zen upgraded Cabot from a “hold” rating to a “buy” rating in a report on Sunday, June 14th. Finally, JPMorgan Chase & Co. upped their price objective on Cabot from $68.00 to $70.00 and gave the company an “underweight” rating in a research report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $85.80.

Cabot Price Performance

Cabot stock opened at $86.69 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.45 and a quick ratio of 0.96. The stock has a market cap of $4.47 billion, a price-to-earnings ratio of 16.39, a price-to-earnings-growth ratio of 11.94 and a beta of 0.83. The firm has a 50-day moving average of $84.09 and a two-hundred day moving average of $76.27. Cabot Corporation has a 1 year low of $58.33 and a 1 year high of $94.53.

Cabot (NYSE:CBT) last issued its earnings results on Tuesday, May 5th. The specialty chemicals company reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.14. Cabot had a net margin of 7.97% and a return on equity of 21.33%. The business had revenue of $904.00 million for the quarter, compared to analyst estimates of $900.30 million. During the same period last year, the company posted $1.90 earnings per share. The company’s quarterly revenue was down 3.4% compared to the same quarter last year. Cabot has set its FY 2026 guidance at 6.000-6.50 EPS. On average, research analysts forecast that Cabot Corporation will post 6.34 earnings per share for the current year.

Cabot Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 29th were issued a dividend of $0.4725 per share. This represents a $1.89 annualized dividend and a yield of 2.2%. The ex-dividend date was Friday, May 29th. This is an increase from Cabot’s previous quarterly dividend of $0.45. Cabot’s dividend payout ratio (DPR) is 35.73%.

Cabot Profile

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.