20,708 Shares in Cabot Corporation $CBT Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Cabot Corporation (NYSE:CBT) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 20,708 shares of the specialty chemicals company’s stock, valued at approximately $1,881,000.

Other institutional investors have also recently bought and sold shares of the company. First Eagle Investment Management LLC increased its position in shares of Cabot by 52.5% during the second quarter. First Eagle Investment Management LLC now owns 208,450 shares of the specialty chemicals company’s stock worth $18,931,000 after acquiring an additional 71,800 shares in the last quarter. California State Teachers Retirement System lifted its position in Cabot by 8,726.7% in the 2nd quarter. California State Teachers Retirement System now owns 5,593,422 shares of the specialty chemicals company’s stock valued at $507,995,000 after acquiring an additional 5,530,053 shares in the last quarter. HB Wealth Management LLC acquired a new position in Cabot in the 2nd quarter worth $239,000. Nykredit A S acquired a new position in Cabot in the 2nd quarter worth $254,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Cabot by 16.4% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 110,259 shares of the specialty chemicals company’s stock worth $10,014,000 after purchasing an additional 15,561 shares in the last quarter. Institutional investors own 93.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Mizuho boosted their price target on Cabot from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, June 25th. Truist Financial set a $100.00 price objective on Cabot in a report on Wednesday, August 5th. UBS Group cut their target price on Cabot from $97.00 to $92.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cabot in a research report on Friday, August 21st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Cabot from $70.00 to $78.00 and gave the company an “underweight” rating in a report on Friday, August 7th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $89.00.

Insider Transactions at Cabot

In other news, CEO Sean Keohane sold 134,895 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $85.00, for a total transaction of $11,466,075.00. Following the completion of the sale, the chief executive officer owned 404,134 shares in the company, valued at $34,351,390. The trade was a 25.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold 229,597 shares of company stock worth $19,646,746 in the last three months. Company insiders own 3.08% of the company’s stock.

Cabot Stock Up 1.3%

Shares of CBT stock opened at $79.83 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.97 and a current ratio of 1.47. The firm’s 50-day moving average is $85.86 and its 200-day moving average is $81.56. The stock has a market cap of $4.12 billion, a price-to-earnings ratio of 22.49, a PEG ratio of 10.34 and a beta of 0.83. Cabot Corporation has a 52-week low of $58.33 and a 52-week high of $94.53.

Cabot (NYSE:CBT) last released its quarterly earnings data 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 company had revenue of $982.00 million during the quarter, compared to analysts’ expectations of $943.16 million. During the same period last year, the firm posted $1.90 earnings per share. The business’s revenue was up 6.4% on a year-over-year basis. Cabot has set its FY 2026 guidance at 6.150-6.450 EPS. Sell-side analysts predict that Cabot Corporation will post 6.35 EPS for the current year.

Cabot Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Friday, August 28th were issued a $0.4725 dividend. This represents a $1.89 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Friday, August 28th. Cabot’s dividend payout ratio is currently 53.24%.

About Cabot

Cabot Corporation (NYSE: CBT) is a global specialty chemicals and performance materials company. Its products are used by manufacturers in transportation, infrastructure, energy, electronics, consumer goods, and other industrial markets.

Cabot’s Reinforcement Materials business produces carbon black and other materials used to reinforce tires, automotive components, industrial rubber products, and plastics. Its Performance Chemicals business supplies specialty carbon blacks, fumed metal oxides, inkjet colorants, conductive compounds, masterbatch products, and related materials used to modify the color, conductivity, strength, durability, and processing characteristics of finished products.

Founded in 1882, Cabot operates research, manufacturing, and commercial facilities serving customers in North America, South America, Europe, Asia, and other international markets.