Cabot Corp. (CBT) Stock Rating Reaffirmed by Jefferies Group
Other research analysts have also recently issued research reports about the company. SunTrust Banks Inc. cut Cabot Corp. from a buy rating to a neutral rating and set a $51.00 price objective on the stock. in a research report on Tuesday, August 2nd. They noted that the move was a valuation call. Zacks Investment Research raised Cabot Corp. from a sell rating to a hold rating in a research report on Tuesday, July 26th. TheStreet cut Cabot Corp. from a buy rating to a hold rating in a research report on Friday, June 10th. Finally, Deutsche Bank AG boosted their target price on Cabot Corp. from $48.00 to $52.00 and gave the company a hold rating in a research note on Friday, August 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $53.17.
Shares of Cabot Corp. (NYSE:CBT) opened at 50.02 on Tuesday. Cabot Corp. has a 12-month low of $30.70 and a 12-month high of $52.53. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of 22.97 and a beta of 1.62. The stock’s 50 day moving average price is $49.49 and its 200 day moving average price is $47.70.
Cabot Corp. (NYSE:CBT) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.93 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.93. Cabot Corp. had a return on equity of 13.91% and a net margin of 5.68%. The business had revenue of $621 million for the quarter, compared to analysts’ expectations of $611.73 million. During the same quarter in the previous year, the firm earned $0.64 earnings per share. The business’s revenue was down 10.5% on a year-over-year basis. Equities research analysts expect that Cabot Corp. will post $3.08 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Friday, August 26th were paid a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, August 24th. This represents a $1.20 annualized dividend and a dividend yield of 2.40%. Cabot Corp.’s payout ratio is presently 54.30%.
In related news, VP James Patrick Kelly sold 2,500 shares of the business’s stock in a transaction on Tuesday, July 12th. The stock was sold at an average price of $48.95, for a total transaction of $122,375.00. Following the sale, the vice president now directly owns 27,085 shares in the company, valued at approximately $1,325,810.75. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Brian A. Berube sold 16,489 shares of the business’s stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $49.90, for a total value of $822,801.10. Following the sale, the senior vice president now owns 42,622 shares in the company, valued at $2,126,837.80. The disclosure for this sale can be found here. 2.48% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. raised its stake in Cabot Corp. by 14.5% in the second quarter. PNC Financial Services Group Inc. now owns 2,636 shares of the company’s stock worth $121,000 after buying an additional 333 shares during the last quarter. Citigroup Inc. raised its stake in Cabot Corp. by 45.9% in the second quarter. Citigroup Inc. now owns 2,707 shares of the company’s stock worth $123,000 after buying an additional 852 shares during the last quarter. Acrospire Investment Management LLC raised its stake in Cabot Corp. by 93.3% in the second quarter. Acrospire Investment Management LLC now owns 2,900 shares of the company’s stock worth $132,000 after buying an additional 1,400 shares during the last quarter. Bank of Montreal Can bought a new stake in Cabot Corp. during the second quarter worth about $148,000. Finally, LS Investment Advisors LLC raised its stake in Cabot Corp. by 71.9% in the second quarter. LS Investment Advisors LLC now owns 3,746 shares of the company’s stock worth $171,000 after buying an additional 1,567 shares during the last quarter. Institutional investors own 85.77% of the company’s stock.
About Cabot Corp.
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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