Bank of New York Mellon Corp Makes New $57.45 Million Investment in Cabot Corporation $CBT

Bank of New York Mellon Corp bought a new stake in shares of Cabot Corporation (NYSE:CBT) in the 2nd quarter, HoldingsChannel reports. The fund bought 632,518 shares of the specialty chemicals company’s stock, valued at approximately $57,445,000.

Other large investors also recently modified their holdings of the company. NewEdge Advisors LLC raised its stake in Cabot by 2,559.5% during the first quarter. NewEdge Advisors LLC now owns 984 shares of the specialty chemicals company’s stock worth $82,000 after acquiring an additional 947 shares during the period. Goldman Sachs Group Inc. boosted its stake in Cabot by 32.5% in the first quarter. Goldman Sachs Group Inc. now owns 442,646 shares of the specialty chemicals company’s stock valued at $36,802,000 after acquiring an additional 108,645 shares during the period. Empowered Funds LLC grew its holdings in shares of Cabot by 102.6% during the first quarter. Empowered Funds LLC now owns 28,162 shares of the specialty chemicals company’s stock valued at $2,341,000 after purchasing an additional 14,260 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Cabot by 3.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 122,022 shares of the specialty chemicals company’s stock valued at $10,145,000 after purchasing an additional 4,048 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its position in shares of Cabot by 409.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 453 shares of the specialty chemicals company’s stock worth $38,000 after purchasing an additional 364 shares during the period. 93.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Cabot news, CEO Sean D. Keohane sold 91,923 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $86.41, for a total transaction of $7,943,066.43. Following the sale, the chief executive officer directly owned 404,134 shares in the company, valued at approximately $34,921,218.94. The trade was a 18.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CBT. Weiss Ratings restated a “hold (c)” rating on shares of Cabot in a research report on Friday, August 21st. JPMorgan Chase & Co. increased their target price on Cabot from $70.00 to $78.00 and gave the stock an “underweight” rating in a research report on Friday, August 7th. 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. Wall Street Zen raised shares of Cabot from a “hold” rating to a “buy” rating in a report on Sunday, August 9th. Finally, Mizuho upped their price target on shares of Cabot from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday, June 25th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Cabot has an average rating of “Hold” and a consensus price target of $89.00.

Cabot Stock Up 1.2%

Shares of Cabot stock opened at $84.68 on Thursday. 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 Corporation has a 1-year low of $58.33 and a 1-year high of $94.53. The business’s fifty day moving average price is $87.91 and its two-hundred day moving average price is $81.11. The company has a market capitalization of $4.37 billion, a P/E ratio of 23.85, a PEG ratio of 10.98 and a beta of 0.84.

Cabot (NYSE:CBT) last released its quarterly earnings results on Monday, August 3rd. The specialty chemicals company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter in the prior year, the business posted $1.90 earnings per share. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. Cabot has set its FY 2026 guidance at 6.150-6.450 EPS. As a group, research analysts forecast that Cabot Corporation will post 6.35 EPS for the current year.

Cabot Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 28th will be paid a dividend of $0.4725 per share. The ex-dividend date of this dividend is Friday, August 28th. This represents a $1.89 annualized dividend and a yield of 2.2%. Cabot’s dividend payout ratio (DPR) 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.