Allianz Asset Management GmbH Has $4.74 Million Position in Cabot Corporation $CBT

Allianz Asset Management GmbH boosted its stake in shares of Cabot Corporation (NYSE:CBT) by 317.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 63,195 shares of the specialty chemicals company’s stock after buying an additional 48,064 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.12% of Cabot worth $4,740,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC lifted its stake in shares of Cabot by 26.1% in the 1st quarter. GAMMA Investing LLC now owns 1,700 shares of the specialty chemicals company’s stock valued at $141,000 after purchasing an additional 352 shares during the period. KBC Group NV lifted its stake in shares of Cabot by 31.5% in the 1st quarter. KBC Group NV now owns 2,690 shares of the specialty chemicals company’s stock valued at $224,000 after purchasing an additional 644 shares during the period. Janney Montgomery Scott LLC acquired a new position in shares of Cabot in the 1st quarter valued at about $975,000. Park Avenue Securities LLC acquired a new position in shares of Cabot in the 2nd quarter valued at about $312,000. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Cabot by 12.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,356 shares of the specialty chemicals company’s stock valued at $362,000 after purchasing an additional 494 shares during the period. 93.18% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Mizuho dropped their price objective on Cabot from $90.00 to $88.00 and set an “outperform” rating on the stock in a research note on Friday, October 3rd. UBS Group set a $82.00 price target on Cabot and gave the stock a “neutral” rating in a research note on Tuesday, August 5th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cabot in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $85.00.

Cabot Stock Performance

Shares of CBT opened at $71.26 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.41 and a current ratio of 2.13. The stock has a 50 day moving average price of $76.65 and a two-hundred day moving average price of $76.49. The firm has a market capitalization of $3.79 billion, a P/E ratio of 9.31 and a beta of 0.88. Cabot Corporation has a 52 week low of $66.50 and a 52 week high of $117.46.

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

Insider Transactions at Cabot

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

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.