According to Zacks, “Cabot Corporation is a global specialty chemicals and materials company. Cabot’s major products are carbon black, fumed silica, inkjet colorants, and aerogels. Cabot has manufacturing plants located in countries around the world. (Company Press Release) “
A number of other research firms have also commented on CBT. TheStreet upgraded Cabot Corp. from a hold rating to a buy rating in a research note on Wednesday, July 27th. Jefferies Group restated a buy rating and set a $60.00 price objective on shares of Cabot Corp. in a research note on Tuesday, September 13th. SunTrust Banks Inc. lowered Cabot Corp. from a buy rating to a neutral rating and set a $51.00 price objective on the stock. in a research note on Tuesday, August 2nd. They noted that the move was a valuation call. Finally, Deutsche Bank AG raised their price objective on Cabot Corp. from $48.00 to $52.00 and gave the stock a hold rating in a research note on Friday, August 12th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $53.17.
Shares of Cabot Corp. (NYSE:CBT) opened at 51.63 on Thursday. The firm has a market capitalization of $3.22 billion, a price-to-earnings ratio of 23.71 and a beta of 1.62. The stock’s 50 day moving average price is $50.01 and its 200 day moving average price is $47.95. Cabot Corp. has a one year low of $30.70 and a one year high of $52.53.
Cabot Corp. (NYSE:CBT) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.93 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.93. Cabot Corp. had a return on equity of 13.91% and a net margin of 5.68%. The firm had revenue of $621 million for the quarter, compared to analyst estimates of $611.73 million. During the same quarter last year, the company earned $0.64 EPS. The company’s revenue was down 10.5% on a year-over-year basis. Analysts expect that Cabot Corp. will post $3.08 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Friday, August 26th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, August 24th. This represents a $1.20 dividend on an annualized basis and a yield of 2.32%. Cabot Corp.’s dividend payout ratio is currently 54.30%.
In related news, VP James Patrick Kelly sold 2,500 shares of the business’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $50.95, for a total transaction of $127,375.00. Following the sale, the vice president now owns 24,585 shares in the company, valued at approximately $1,252,605.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Patrick M. Prevost sold 2,200 shares of the business’s stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $50.21, for a total value of $110,462.00. Following the sale, the director now owns 280,508 shares in the company, valued at approximately $14,084,306.68. The disclosure for this sale can be found here. Corporate insiders own 2.48% of the company’s stock.
A number of large investors have recently modified their holdings of CBT. Riverhead Capital Management LLC raised its stake in shares of Cabot Corp. by 31.2% in the first quarter. Riverhead Capital Management LLC now owns 21,251 shares of the company’s stock worth $1,027,000 after buying an additional 5,051 shares in the last quarter. Primecap Management Co. CA raised its stake in shares of Cabot Corp. by 50.0% in the first quarter. Primecap Management Co. CA now owns 150,000 shares of the company’s stock worth $7,249,000 after buying an additional 50,000 shares in the last quarter. UBS Group AG raised its stake in shares of Cabot Corp. by 7.3% in the first quarter. UBS Group AG now owns 45,885 shares of the company’s stock worth $2,218,000 after buying an additional 3,133 shares in the last quarter. Meeder Asset Management Inc. raised its stake in shares of Cabot Corp. by 89.6% in the first quarter. Meeder Asset Management Inc. now owns 9,245 shares of the company’s stock worth $447,000 after buying an additional 4,369 shares in the last quarter. Finally, Menta Capital LLC raised its stake in shares of Cabot Corp. by 13.7% in the first quarter. Menta Capital LLC now owns 56,400 shares of the company’s stock worth $2,726,000 after buying an additional 6,800 shares in the last quarter. Institutional investors and hedge funds own 85.62% of the company’s stock.
Cabot Corp. Company Profile
Cabot Corporation (Cabot) is a global specialty chemicals and performance materials company. The Company’s principal products are rubber and specialty grade carbon blacks, fumed metal oxides, activated carbon, inkjet colorants, aerogel and cesium formate drilling fluids. The Company operates through four segments: Reinforcement Materials, Performance Chemicals, Purification Solutions and Specialty Fluids.
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