Shares of Cabot Corp (NYSE:CBT) have been given a consensus recommendation of “Hold” by the six ratings firms that are currently covering the stock. Three investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $58.75.
A number of analysts have commented on CBT shares. Zacks Investment Research cut shares of Cabot Corp from a “hold” rating to a “sell” rating in a research report on Monday, February 6th. TheStreet raised shares of Cabot Corp from a “c+” rating to a “b” rating in a research report on Thursday, February 9th. Jefferies Group LLC reiterated a “buy” rating and set a $68.00 price objective on shares of Cabot Corp in a report on Friday, March 24th. Finally, SunTrust Banks, Inc. initiated coverage on shares of Cabot Corp in a report on Tuesday, April 18th. They set a “buy” rating and a $56.00 price objective on the stock.
In related news, Director Patrick M. Prevost sold 92,562 shares of the company’s stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $58.22, for a total value of $5,388,959.64. Following the sale, the director now owns 293,548 shares in the company, valued at approximately $17,090,364.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Patrick M. Prevost sold 61,363 shares of the company’s stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $59.14, for a total transaction of $3,629,007.82. Following the completion of the sale, the director now owns 328,053 shares in the company, valued at approximately $19,401,054.42. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the company. World Asset Management Inc raised its stake in Cabot Corp by 0.5% in the first quarter. World Asset Management Inc now owns 4,333 shares of the specialty chemicals company’s stock worth $260,000 after buying an additional 20 shares in the last quarter. Cantab Capital Partners LLP raised its stake in Cabot Corp by 3.9% in the fourth quarter. Cantab Capital Partners LLP now owns 3,360 shares of the specialty chemicals company’s stock valued at $170,000 after buying an additional 126 shares during the period. First Citizens Bank & Trust Co. raised its stake in Cabot Corp by 1.4% in the third quarter. First Citizens Bank & Trust Co. now owns 9,496 shares of the specialty chemicals company’s stock valued at $498,000 after buying an additional 127 shares during the period. State Treasurer State of Michigan raised its stake in Cabot Corp by 0.8% in the first quarter. State Treasurer State of Michigan now owns 25,280 shares of the specialty chemicals company’s stock valued at $1,515,000 after buying an additional 200 shares during the period. Finally, Advantus Capital Management Inc raised its stake in Cabot Corp by 2.8% in the first quarter. Advantus Capital Management Inc now owns 7,963 shares of the specialty chemicals company’s stock valued at $477,000 after buying an additional 216 shares during the period. Institutional investors own 86.29% of the company’s stock.
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Shares of Cabot Corp (NYSE:CBT) opened at 51.44 on Monday. The stock’s 50 day moving average price is $56.54 and its 200-day moving average price is $55.11. Cabot Corp has a 12 month low of $42.27 and a 12 month high of $61.34. The firm has a market capitalization of $3.21 billion, a price-to-earnings ratio of 13.77 and a beta of 1.21.
Cabot Corp (NYSE:CBT) last issued its quarterly earnings results on Monday, May 1st. The specialty chemicals company reported $0.87 EPS for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.02. The business had revenue of $678 million for the quarter, compared to analysts’ expectations of $637.57 million. Cabot Corp had a net margin of 8.68% and a return on equity of 16.25%. The business’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.70 earnings per share. On average, equities research analysts predict that Cabot Corp will post $3.47 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 9th. Stockholders of record on Friday, May 26th will be issued a dividend of $0.315 per share. The ex-dividend date is Wednesday, May 24th. This represents a $1.26 annualized dividend and a dividend yield of 2.45%. This is a positive change from Cabot Corp’s previous quarterly dividend of $0.30. Cabot Corp’s dividend payout ratio is currently 36.14%.
About Cabot Corp
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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