Man Group plc Acquires New Shares in Cabot Corporation $CBT

Man Group plc acquired a new position in Cabot Corporation (NYSE:CBT) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 47,451 shares of the specialty chemicals company’s stock, valued at approximately $4,310,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CBT. UBS Group AG grew its holdings in shares of Cabot by 3.5% during the 4th quarter. UBS Group AG now owns 614,178 shares of the specialty chemicals company’s stock worth $40,708,000 after purchasing an additional 20,668 shares during the period. Lazard Asset Management LLC raised its holdings in Cabot by 96.2% in the 1st quarter. Lazard Asset Management LLC now owns 43,219 shares of the specialty chemicals company’s stock valued at $3,255,000 after buying an additional 21,194 shares during the period. Denali Advisors LLC purchased a new stake in Cabot in the 4th quarter valued at about $5,531,000. BlackRock Inc. acquired a new position in Cabot in the second quarter valued at about $633,302,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in Cabot in the second quarter valued at about $4,528,000. Hedge funds and other institutional investors own 93.18% of the company’s stock.

Insiders Place Their Bets

In other Cabot news, CEO Sean D. Keohane sold 2,779 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $85.50, for a total transaction of $237,604.50. Following the sale, the chief executive officer directly owned 288,873 shares in the company, valued at $24,698,641.50. This represents a 0.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.08% of the stock is currently owned by insiders.

Cabot Stock Performance

Shares of Cabot stock opened at $83.67 on Monday. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of 23.57, a price-to-earnings-growth ratio of 10.98 and a beta of 0.84. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.47 and a quick ratio of 0.97. The business has a 50-day moving average of $87.62 and a 200 day moving average of $81.24. Cabot Corporation has a 12 month low of $58.33 and a 12 month high of $94.53.

Cabot (NYSE:CBT) last issued its quarterly earnings results on Monday, August 3rd. The specialty chemicals company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.01. The company had revenue of $982.00 million for the quarter, compared to analyst estimates of $943.16 million. Cabot had a net margin of 5.23% and a return on equity of 20.29%. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.90 earnings per share. Cabot has set its FY 2026 guidance at 6.150-6.450 EPS. As a group, sell-side analysts forecast that Cabot Corporation will post 6.35 earnings per share for the current year.

Cabot Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 28th will be paid a dividend of $0.4725 per share. This represents a $1.89 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Friday, August 28th. Cabot’s dividend payout ratio is presently 53.24%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CBT shares. Weiss Ratings reiterated 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 shares of Cabot in a report on Wednesday, August 5th. 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 report on Friday, August 7th. UBS Group dropped their target price on shares of Cabot from $97.00 to $92.00 and set a “neutral” rating for the company in a report on Wednesday, August 5th. Finally, Mizuho boosted their target price on Cabot from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Thursday, June 25th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target 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.