Cabot (NYSE:CBT) Reaches New 1-Year High at $49.17


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Cabot Co. (NYSE:CBT) hit a new 52-week high during trading on Tuesday . The company traded as high as $49.17 and last traded at $48.92, with a volume of 1277 shares changing hands. The stock had previously closed at $48.52.

A number of equities research analysts have recently issued reports on CBT shares. The Goldman Sachs Group boosted their target price on shares of Cabot from $136.00 to $143.00 and gave the company a “sell” rating in a research report on Monday, December 14th. Barclays increased their target price on shares of Cabot from $50.00 to $53.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 25th. UBS Group raised their target price on shares of Cabot from $47.00 to $49.00 and gave the stock a “buy” rating in a report on Thursday, November 5th. Zacks Investment Research raised shares of Cabot from a “sell” rating to a “hold” rating and set a $40.00 price objective for the company in a research report on Monday, November 2nd. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Cabot from $42.00 to $45.00 and gave the company a “hold” rating in a research report on Tuesday, November 17th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Cabot presently has a consensus rating of “Hold” and an average target price of $56.13.

The stock has a market capitalization of $2.76 billion, a PE ratio of -11.52 and a beta of 1.60. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.17 and a current ratio of 1.85. The stock has a 50-day moving average price of $44.14 and a two-hundred day moving average price of $40.21.

Cabot (NYSE:CBT) last released its quarterly earnings results on Sunday, November 22nd. The specialty chemicals company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.10. The business had revenue of $659.00 million during the quarter, compared to analysts’ expectations of $655.58 million. Cabot had a positive return on equity of 11.67% and a negative net margin of 9.10%. As a group, equities analysts predict that Cabot Co. will post 3.36 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 12th. Shareholders of record on Friday, February 26th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, February 25th. This represents a $1.40 dividend on an annualized basis and a yield of 2.87%. Cabot’s dividend payout ratio (DPR) is presently 67.31%.

Several institutional investors have recently added to or reduced their stakes in CBT. Zeke Capital Advisors LLC increased its position in Cabot by 1.8% in the 3rd quarter. Zeke Capital Advisors LLC now owns 13,051 shares of the specialty chemicals company’s stock valued at $470,000 after acquiring an additional 233 shares in the last quarter. Cambria Investment Management L.P. raised its position in Cabot by 2.6% during the third quarter. Cambria Investment Management L.P. now owns 16,965 shares of the specialty chemicals company’s stock valued at $611,000 after purchasing an additional 435 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its stake in Cabot by 23.6% during the third quarter. O Shaughnessy Asset Management LLC now owns 4,072 shares of the specialty chemicals company’s stock worth $147,000 after purchasing an additional 778 shares during the last quarter. Guggenheim Capital LLC lifted its stake in Cabot by 8.5% during the third quarter. Guggenheim Capital LLC now owns 12,549 shares of the specialty chemicals company’s stock worth $452,000 after purchasing an additional 978 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its holdings in shares of Cabot by 0.8% in the 2nd quarter. Nuveen Asset Management LLC now owns 130,403 shares of the specialty chemicals company’s stock valued at $4,831,000 after purchasing an additional 1,050 shares in the last quarter. Institutional investors own 86.23% of the company’s stock.

About Cabot (NYSE:CBT)

Cabot Corporation operates as a specialty chemicals and performance materials company. It operates through three segments: Reinforcement Materials, Performance Chemicals, and Purification Solutions. The company offers rubber grade carbon blacks 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.

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