ValuEngine downgraded shares of Cabot Corporation (NYSE:CBT) from a buy rating to a hold rating in a research report report published on Friday morning.

Several other research firms have also recently weighed in on CBT. Zacks Investment Research raised shares of Cabot Corporation from a hold rating to a buy rating and set a $68.00 price target on the stock in a report on Friday, April 28th. SunTrust Banks, Inc. assumed coverage on Cabot Corporation in a research note on Tuesday, April 18th. They issued a buy rating and a $56.00 target price on the stock. Jefferies Group LLC reissued a buy rating and issued a $68.00 target price on shares of Cabot Corporation in a research note on Tuesday, May 2nd. BidaskClub raised Cabot Corporation from a sell rating to a hold rating in a research note on Friday, June 16th. Finally, Aegis reissued a hold rating on shares of Cabot Corporation in a research note on Wednesday, May 31st. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Cabot Corporation presently has an average rating of Hold and an average target price of $59.67.

Shares of Cabot Corporation (NYSE CBT) opened at 54.33 on Friday. The firm has a market cap of $3.39 billion, a P/E ratio of 14.54 and a beta of 1.05. The firm has a 50 day moving average price of $53.84 and a 200-day moving average price of $55.83. Cabot Corporation has a one year low of $46.88 and a one year high of $61.34.

Cabot Corporation (NYSE:CBT) last released its quarterly earnings results on Monday, May 1st. The specialty chemicals company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.02. The firm had revenue of $678 million for the quarter, compared to analysts’ expectations of $637.57 million. Cabot Corporation had a net margin of 9.33% and a return on equity of 16.83%. The business’s quarterly revenue was up 19.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.70 earnings per share. Analysts forecast that Cabot Corporation will post $3.47 earnings per share for the current year.

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The firm also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 25th will be given a dividend of $0.315 per share. The ex-dividend date is Wednesday, August 23rd. This represents a $1.26 annualized dividend and a yield of 2.32%. Cabot Corporation’s payout ratio is 33.69%.

A number of hedge funds have recently bought and sold shares of CBT. Bank of America Corp DE raised its stake in Cabot Corporation by 22.9% in the first quarter. Bank of America Corp DE now owns 703,563 shares of the specialty chemicals company’s stock valued at $42,151,000 after buying an additional 131,109 shares during the last quarter. Legal & General Group Plc raised its stake in Cabot Corporation by 30.0% in the first quarter. Legal & General Group Plc now owns 68,671 shares of the specialty chemicals company’s stock valued at $4,112,000 after buying an additional 15,829 shares during the last quarter. Pacer Advisors Inc. raised its stake in Cabot Corporation by 29.0% in the first quarter. Pacer Advisors Inc. now owns 7,691 shares of the specialty chemicals company’s stock valued at $461,000 after buying an additional 1,727 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its stake in Cabot Corporation by 1.5% in the first quarter. Municipal Employees Retirement System of Michigan now owns 28,890 shares of the specialty chemicals company’s stock valued at $1,731,000 after buying an additional 440 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in Cabot Corporation by 2.0% in the first quarter. Principal Financial Group Inc. now owns 1,406,299 shares of the specialty chemicals company’s stock valued at $84,251,000 after buying an additional 27,957 shares during the last quarter. Institutional investors and hedge funds own 85.39% of the company’s stock.

About Cabot Corporation

Cabot Corporation is a global specialty chemicals and performance materials company. The Company operates through four business segments: reinforcement materials, performance chemicals, purification solutions and specialty fluids. Reinforcement materials’ rubber grade carbon blacks are used to enhance the physical properties of the systems and applications in which they are incorporated.

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Analyst Recommendations for Cabot Corporation (NYSE:CBT)

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