Cabot Corporation $CBT Shares Sold by Moran Wealth Management LLC

Moran Wealth Management LLC lowered its stake in shares of Cabot Corporation (NYSE:CBT) by 10.5% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 54,381 shares of the specialty chemicals company’s stock after selling 6,353 shares during the quarter. Moran Wealth Management LLC’s holdings in Cabot were worth $4,079,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. increased its holdings in Cabot by 215.7% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 13,678 shares of the specialty chemicals company’s stock worth $1,026,000 after buying an additional 9,346 shares during the period. Sequoia Financial Advisors LLC acquired a new position in Cabot in the 2nd quarter worth approximately $436,000. Allspring Global Investments Holdings LLC increased its holdings in Cabot by 4.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 36,982 shares of the specialty chemicals company’s stock worth $2,881,000 after buying an additional 1,507 shares during the period. CWM LLC increased its holdings in Cabot by 7,183.8% in the 2nd quarter. CWM LLC now owns 43,703 shares of the specialty chemicals company’s stock worth $3,278,000 after buying an additional 43,103 shares during the period. Finally, Inspire Investing LLC increased its holdings in Cabot by 25.7% in the 2nd quarter. Inspire Investing LLC now owns 6,188 shares of the specialty chemicals company’s stock worth $464,000 after buying an additional 1,267 shares during the period. Institutional investors and hedge funds own 93.18% of the company’s stock.

Insider Activity

In other news, CEO Sean D. Keohane sold 114,436 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $79.28, for a total transaction of $9,072,486.08. Following the transaction, the chief executive officer owned 361,518 shares in the company, valued at $28,661,147.04. This trade represents a 24.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 3.03% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. UBS Group set a $82.00 price target on shares of Cabot and gave the stock a “neutral” rating in a report on Tuesday, August 5th. Mizuho cut their price target on shares of Cabot from $90.00 to $88.00 and set an “outperform” rating on the stock in a report on Friday, October 3rd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Cabot in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $85.00.

Cabot Trading Down 2.2%

Cabot stock opened at $68.07 on Wednesday. The company has a current ratio of 2.13, a quick ratio of 1.41 and a debt-to-equity ratio of 0.66. Cabot Corporation has a 12 month low of $66.50 and a 12 month high of $117.46. The stock’s 50 day simple moving average is $77.81 and its two-hundred day simple moving average is $76.99. The firm has a market cap of $3.62 billion, a PE ratio of 8.90 and a beta of 0.88.

Cabot (NYSE:CBT) last released its quarterly earnings data on Monday, August 4th. The specialty chemicals company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.80 by $0.10. Cabot had a return on equity of 25.68% and a net margin of 11.14%.The business had revenue of $923.00 million for the quarter, compared to analyst estimates of $957.29 million. Cabot has set its FY 2025 guidance at 7.150-7.500 EPS. Analysts anticipate that Cabot Corporation will post 7.57 earnings per share for the current year.

Cabot Company Profile

Cabot Corporation operates as a specialty chemicals and performance materials company. The company operates through two segments, Reinforcement Materials and Performance Chemicals. It offers reinforcing carbons that are used in tires as a rubber reinforcing agent and performance additive, as well as in industrial products, such as hoses, belts, extruded profiles, and molded goods; and engineered elastomer composites solutions.