Legal & General Group Plc Makes New Investment in Cabot Corporation $CBT

Legal & General Group Plc purchased a new stake in shares of Cabot Corporation (NYSE:CBT) during the 2nd quarter, HoldingsChannel reports. The firm purchased 75,970 shares of the specialty chemicals company’s stock, valued at approximately $6,900,000.

Other institutional investors have also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Cabot during the second quarter worth about $633,302,000. Norges Bank purchased a new position in Cabot during the 4th quarter worth approximately $49,662,000. Bank of New York Mellon Corp purchased a new position in Cabot during the 2nd quarter worth approximately $57,445,000. AQR Capital Management LLC lifted its stake in Cabot by 123.0% during the 2nd quarter. AQR Capital Management LLC now owns 867,946 shares of the specialty chemicals company’s stock valued at $65,096,000 after acquiring an additional 478,702 shares during the period. Finally, UBS Group AG boosted its holdings in shares of Cabot by 186.7% in the 3rd quarter. UBS Group AG now owns 593,510 shares of the specialty chemicals company’s stock valued at $45,136,000 after acquiring an additional 386,514 shares during the last quarter. 93.18% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CBT shares. JPMorgan Chase & Co. increased their price objective on shares of Cabot from $70.00 to $78.00 and gave the stock an “underweight” rating in a research note on Friday, August 7th. Wall Street Zen upgraded shares of Cabot from a “hold” rating to a “buy” rating in a research report on Sunday, August 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cabot in a research report on Friday, August 21st. Truist Financial set a $100.00 price objective on Cabot in a research note on Wednesday, August 5th. Finally, UBS Group decreased their price objective on Cabot from $97.00 to $92.00 and set a “neutral” rating for the company in a report on Wednesday, August 5th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $89.00.

Insider Buying and Selling at Cabot

In other Cabot news, CEO Sean D. Keohane sold 134,895 shares of the company’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $85.00, for a total value of $11,466,075.00. Following the completion of the transaction, the chief executive officer owned 404,134 shares in the company, valued at approximately $34,351,390. This represents a 25.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 229,597 shares of company stock valued at $19,646,746 in the last three months. Corporate insiders own 3.08% of the company’s stock.

Cabot Price Performance

Shares of NYSE CBT opened at $82.90 on Thursday. The stock has a market capitalization of $4.28 billion, a price-to-earnings ratio of 23.35, a PEG ratio of 10.59 and a beta of 0.83. Cabot Corporation has a 12 month low of $58.33 and a 12 month high of $94.53. The firm’s 50 day simple moving average is $87.15 and its 200-day simple moving average is $81.37. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.47 and a quick ratio of 0.97.

Cabot (NYSE:CBT) last posted 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. Cabot had a net margin of 5.23% and a return on equity of 20.29%. The firm had revenue of $982.00 million during the quarter, compared to analyst estimates of $943.16 million. During the same period in the previous year, the firm earned $1.90 EPS. The business’s quarterly revenue was up 6.4% on a year-over-year basis. Cabot has set its FY 2026 guidance at 6.150-6.450 EPS. Analysts expect that Cabot Corporation will post 6.35 EPS for the current year.

Cabot Announces Dividend

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 issued a $0.4725 dividend. The ex-dividend date of this dividend is Friday, August 28th. This represents a $1.89 dividend on an annualized basis and a yield of 2.3%. Cabot’s payout ratio is presently 53.24%.

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.