Cabot Corporation (CBT) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Cabot Corporation (NYSE:CBT) have received an average rating of “Hold” from the eleven research firms that are covering the company, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $61.80.

CBT has been the subject of several research analyst reports. Zacks Investment Research lowered shares of Cabot from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. Jefferies Group reissued a “buy” rating and issued a $74.00 price target on shares of Cabot in a report on Friday, November 3rd. KeyCorp reissued a “hold” rating on shares of Cabot in a report on Wednesday, November 1st. Loop Capital initiated coverage on shares of Cabot in a report on Thursday, September 28th. They issued a “hold” rating and a $59.00 price target for the company. Finally, J P Morgan Chase & Co raised shares of Cabot from a “neutral” rating to an “overweight” rating and set a $57.00 price target for the company in a report on Tuesday, August 15th.

Cabot (NYSE CBT) traded down $0.71 on Thursday, reaching $59.77. 214,056 shares of the company’s stock were exchanged, compared to its average volume of 338,907. The company has a quick ratio of 1.17, a current ratio of 1.70 and a debt-to-equity ratio of 0.41. Cabot has a 12-month low of $50.21 and a 12-month high of $64.66. The firm has a market cap of $3,700.00, a price-to-earnings ratio of 17.64, a PEG ratio of 1.60 and a beta of 1.10.

Cabot (NYSE:CBT) last released its earnings results on Tuesday, October 31st. The specialty chemicals company reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.02). Cabot had a return on equity of 15.11% and a net margin of 8.87%. The business had revenue of $723.00 million for the quarter, compared to analyst estimates of $683.30 million. During the same period in the prior year, the firm posted $1.00 EPS. Cabot’s revenue was up 16.8% on a year-over-year basis. equities analysts forecast that Cabot will post 3.78 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 24th will be given a dividend of $0.315 per share. The ex-dividend date is Wednesday, November 22nd. This represents a $1.26 annualized dividend and a yield of 2.11%. Cabot’s dividend payout ratio (DPR) is presently 33.07%.

In other Cabot news, insider Hobart Kalkstein sold 3,881 shares of the business’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $53.39, for a total transaction of $207,206.59. Following the sale, the insider now directly owns 27,736 shares of the company’s stock, valued at approximately $1,480,825.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.50% of the company’s stock.

Large investors have recently modified their holdings of the business. Capstone Asset Management Co. raised its holdings in shares of Cabot by 4.0% in the 2nd quarter. Capstone Asset Management Co. now owns 5,442 shares of the specialty chemicals company’s stock valued at $291,000 after purchasing an additional 210 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in shares of Cabot by 4.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 22,854 shares of the specialty chemicals company’s stock valued at $1,221,000 after purchasing an additional 994 shares during the period. LS Investment Advisors LLC raised its holdings in shares of Cabot by 15.3% in the 2nd quarter. LS Investment Advisors LLC now owns 4,858 shares of the specialty chemicals company’s stock valued at $260,000 after purchasing an additional 645 shares during the period. Aperio Group LLC raised its holdings in shares of Cabot by 35.7% in the 2nd quarter. Aperio Group LLC now owns 19,038 shares of the specialty chemicals company’s stock valued at $1,017,000 after purchasing an additional 5,005 shares during the period. Finally, State Treasurer State of Michigan raised its holdings in shares of Cabot by 2.0% in the 2nd quarter. State Treasurer State of Michigan now owns 25,780 shares of the specialty chemicals company’s stock valued at $1,377,000 after purchasing an additional 500 shares during the period. 84.84% of the stock is currently owned by hedge funds and other institutional investors.

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Cabot Company Profile

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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