Allspring Cuts Cabot Corporation Stake by 45.4%, Sells 16,795 Shares
Allspring Global Investments reduced its stake in Cabot Corporation by 45.4% in the third quarter, selling 16,795 shares and retaining 20,187 shares. The remaining position was valued at $1.52 million as of the latest 13F filing.
1. Allspring Global Investments Reduces Holding in Cabot Corporation
In its latest 13F filing for the third quarter, Allspring Global Investments Holdings LLC disclosed a 45.4% reduction in its position in specialty chemicals provider Cabot Corporation. The firm sold 16,795 shares, trimming its total holding to 20,187 shares valued at approximately $1.52 million as of the end of the quarter. This move marks one of the largest portfolio adjustments among institutional holders, reflecting a strategic reallocation of assets away from the specialty chemicals sector during the period.
2. Other Institutional Moves and Ownership Concentration
Several smaller asset managers also modified their stakes in Cabot during the second and first quarters. Elevation Point Wealth Partners initiated a new position valued at around $28,000, while Parkside Financial Bank & Trust nearly doubled its stake by adding 189 shares. Geneos Wealth Management increased its holding by 409%, and UMB Bank expanded its position by 52.4%. EverSource Wealth Advisors grew its position by 344.3%. Despite the trading activity, institutional investors collectively maintain a dominant 93.18% ownership of the company’s outstanding shares.
3. Mixed Analyst Ratings and Revised Price Targets
Equity research firms have issued divergent opinions on Cabot’s outlook. JPMorgan Chase lowered its rating to underweight and cut its target from $75 to $54, citing concerns over near-term demand in key end markets. In contrast, Mizuho raised its target to $80 and maintained an outperform stance based on expected recovery in specialty carbon black volumes. Jefferies and UBS both reaffirmed buy ratings with price objectives of $81. Overall, the consensus across six analysts equates to a hold rating, with an average target price near $74.
4. Quarterly Earnings Results and Forward Guidance
On November 3, Cabot reported third-quarter adjusted earnings of $1.70 per share, missing consensus estimates by $0.02, on revenue of $899 million versus expectations of $967 million. Year-over-year revenue declined 10.2%, and net margin stood at 8.9%. Management set full-year guidance at $6.00 to $7.00 per share, while analysts project $7.57, reflecting confidence in cost controls and gradual volume recovery in reinforcement materials and performance additives segments.