Bank of America Corp DE Trims Stock Holdings in Cabot Corporation $CBT

Bank of America Corp DE decreased its position in Cabot Corporation (NYSE:CBT) by 0.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,516,178 shares of the specialty chemicals company’s stock after selling 13,691 shares during the period. Bank of America Corp DE’s holdings in Cabot were worth $114,183,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. NewEdge Advisors LLC boosted its stake in Cabot by 2,559.5% in the 1st quarter. NewEdge Advisors LLC now owns 984 shares of the specialty chemicals company’s stock worth $82,000 after purchasing an additional 947 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Cabot by 32.5% during the first quarter. Goldman Sachs Group Inc. now owns 442,646 shares of the specialty chemicals company’s stock valued at $36,802,000 after purchasing an additional 108,645 shares in the last quarter. Empowered Funds LLC increased its stake in Cabot by 102.6% during the 1st quarter. Empowered Funds LLC now owns 28,162 shares of the specialty chemicals company’s stock worth $2,341,000 after buying an additional 14,260 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Cabot by 3.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 122,022 shares of the specialty chemicals company’s stock valued at $10,145,000 after purchasing an additional 4,048 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in 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 acquiring an additional 364 shares during the last quarter. 93.18% of the stock is currently owned by institutional investors.

Cabot Stock Up 0.2%

Cabot stock opened at $87.69 on Friday. The stock has a 50 day moving average of $87.92 and a two-hundred day moving average of $79.87. Cabot Corporation has a twelve month low of $58.33 and a twelve month high of $94.53. The stock has a market capitalization of $4.53 billion, a price-to-earnings ratio of 24.70, a PEG ratio of 11.44 and a beta of 0.84. The company has a current ratio of 1.47, a quick ratio of 0.96 and a debt-to-equity ratio of 0.48.

Cabot (NYSE:CBT) last released its earnings results on Monday, August 3rd. The specialty chemicals company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.01. Cabot had a return on equity of 20.29% and a net margin of 5.23%.The business had revenue of $982.00 million for the quarter, compared to analyst estimates of $943.16 million. During the same quarter in the previous year, the company posted $1.90 earnings per share. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. Cabot has set its FY 2026 guidance at 6.150-6.450 EPS. As a group, research analysts expect that Cabot Corporation will post 6.32 earnings per share for the current year.

Cabot Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 28th will be given a dividend of $0.4725 per share. The ex-dividend date is Friday, August 28th. This represents a $1.89 dividend on an annualized basis and a yield of 2.2%. Cabot’s dividend payout ratio is presently 53.24%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CBT shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Cabot in a report on Tuesday, May 26th. UBS Group cut their target price on shares of Cabot from $97.00 to $92.00 and set a “neutral” rating on the stock in a research note on Wednesday. Mizuho lifted their price target on Cabot from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, June 25th. Wall Street Zen downgraded shares of Cabot from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, JPMorgan Chase & Co. increased their price objective on Cabot from $70.00 to $78.00 and gave the company an “underweight” rating in a report on Friday. Two equities research 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $89.00.

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.