Cabot (NYSE:CBT) Sets New 1-Year High at $103.49

Cabot Co. (NYSE:CBTGet Free Report) shares hit a new 52-week high on Tuesday . The stock traded as high as $103.49 and last traded at $102.94, with a volume of 33172 shares changing hands. The stock had previously closed at $102.77.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CBT shares. UBS Group upped their price target on Cabot from $100.00 to $103.00 and gave the company a “neutral” rating in a research report on Tuesday, May 7th. StockNews.com upgraded Cabot from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 8th. Mizuho upped their price target on Cabot from $104.00 to $109.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. Finally, Deutsche Bank Aktiengesellschaft cut Cabot from a “buy” rating to a “hold” rating and upped their price target for the company from $88.00 to $95.00 in a research report on Thursday, April 18th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Cabot presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.67.

Get Our Latest Stock Report on CBT

Cabot Stock Performance

The company has a quick ratio of 1.47, a current ratio of 2.24 and a debt-to-equity ratio of 0.72. The company’s 50-day moving average is $94.57 and its two-hundred day moving average is $84.53. The company has a market capitalization of $5.60 billion, a P/E ratio of 12.82, a PEG ratio of 1.01 and a beta of 1.27.

Cabot (NYSE:CBTGet Free Report) last posted its quarterly earnings data on Monday, May 6th. The specialty chemicals company reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.12. The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Cabot had a net margin of 11.51% and a return on equity of 26.21%. Cabot’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.33 earnings per share. Equities analysts anticipate that Cabot Co. will post 6.78 earnings per share for the current fiscal year.

Cabot Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 1.70%. This is a boost from Cabot’s previous quarterly dividend of $0.40. The ex-dividend date is Friday, May 31st. Cabot’s dividend payout ratio is 20.25%.

Insiders Place Their Bets

In other Cabot news, SVP Karen A. Kalita sold 13,764 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $101.73, for a total value of $1,400,211.72. Following the completion of the sale, the senior vice president now owns 34,312 shares of the company’s stock, valued at $3,490,559.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.07% of the stock is owned by insiders.

Institutional Trading of Cabot

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Los Angeles Capital Management LLC purchased a new stake in shares of Cabot during the fourth quarter valued at approximately $894,000. Vontobel Holding Ltd. purchased a new stake in shares of Cabot during the fourth quarter valued at approximately $6,248,000. Teacher Retirement System of Texas boosted its stake in shares of Cabot by 66.7% during the fourth quarter. Teacher Retirement System of Texas now owns 18,878 shares of the specialty chemicals company’s stock valued at $1,576,000 after purchasing an additional 7,556 shares during the period. Wellington Management Group LLP boosted its stake in shares of Cabot by 0.4% during the third quarter. Wellington Management Group LLP now owns 4,908,495 shares of the specialty chemicals company’s stock valued at $340,011,000 after purchasing an additional 20,589 shares during the period. Finally, Louisiana State Employees Retirement System purchased a new stake in shares of Cabot during the fourth quarter valued at approximately $1,294,000. Hedge funds and other institutional investors own 93.18% of the company’s stock.

Cabot Company Profile

(Get Free Report)

Cabot Corporation operates as a specialty chemicals and performance materials company. The company operates through two segments, Reinforcement Materials and Performance Chemicals. It offers reinforcing carbons that are used in tires as a rubber reinforcing agent and performance additive, as well as in industrial products, such as hoses, belts, extruded profiles, and molded goods; and engineered elastomer composites solutions.

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