Cabot Corporation $CBT Shares Sold by Eastern Bank

Eastern Bank cut its stake in shares of Cabot Corporation (NYSE:CBT) by 8.9% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 202,300 shares of the specialty chemicals company’s stock after selling 19,759 shares during the quarter. Eastern Bank’s holdings in Cabot were worth $18,373,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Torren Management LLC acquired a new stake in shares of Cabot during the fourth quarter worth $26,000. Rothschild Investment LLC boosted its position in shares of Cabot by 170.4% in the 4th quarter. Rothschild Investment LLC now owns 411 shares of the specialty chemicals company’s stock valued at $27,000 after purchasing an additional 259 shares during the period. Global Retirement Partners LLC increased its stake in Cabot by 1,606.9% in the 4th 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 in the last quarter. Geneos Wealth Management Inc. increased its stake in Cabot by 409.0% in the 1st 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 in the last quarter. Finally, Danske Bank A S acquired a new stake in Cabot during the 3rd quarter worth about $38,000. 93.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have commented on CBT shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cabot in a research note on Tuesday, May 26th. JPMorgan Chase & Co. boosted their price target on shares of Cabot from $68.00 to $70.00 and gave the company an “underweight” rating in a report on Wednesday, May 13th. Wall Street Zen downgraded shares of Cabot from a “buy” rating to a “hold” rating in a research report on Saturday. UBS Group raised their price objective on shares of Cabot from $81.00 to $86.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Finally, Truist Financial started coverage on shares of Cabot in a research report on Monday, June 8th. They set a “buy” rating and a $98.00 price objective on the stock. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $85.80.

Cabot Stock Up 2.2%

Shares of Cabot stock opened at $90.00 on Tuesday. Cabot Corporation has a 1 year low of $58.33 and a 1 year high of $94.53. The company has a market cap of $4.65 billion, a P/E ratio of 17.01, a P/E/G ratio of 11.46 and a beta of 0.84. The company has a current ratio of 1.45, a quick ratio of 0.96 and a debt-to-equity ratio of 0.51. The stock has a 50-day moving average price of $88.03 and a 200 day moving average price of $79.56.

Cabot (NYSE:CBT) last released its earnings results on Monday, August 3rd. The specialty chemicals company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.01. The company had revenue of $982.00 million for the quarter, compared to analysts’ expectations of $943.16 million. Cabot had a return on equity of 21.33% and a net margin of 7.97%.The business’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.90 EPS. Cabot has set its FY 2026 guidance at 6.150-6.450 EPS. As a group, analysts expect that Cabot Corporation will post 6.35 EPS for the current fiscal year.

Cabot Announces Dividend

The business also recently disclosed 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 annualized dividend and a yield of 2.1%. The ex-dividend date is Friday, August 28th. Cabot’s dividend payout ratio is currently 35.73%.

Cabot Company 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.