Cabot (CBT) Stock Price Down 7.2%

Cabot Corp (NYSE:CBT) shares traded down 7.2% on Thursday . The company traded as low as $61.91 and last traded at $61.98. 951,968 shares changed hands during mid-day trading, an increase of 104% from the average session volume of 467,191 shares. The stock had previously closed at $66.80.

A number of research analysts have recently weighed in on the company. Jefferies Group reissued a “buy” rating and issued a $78.00 price target on shares of Cabot in a research note on Thursday. ValuEngine raised Cabot from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. KeyCorp reissued a “hold” rating on shares of Cabot in a research note on Wednesday, November 1st. SunTrust Banks raised Cabot from a “hold” rating to a “buy” rating in a research note on Tuesday, December 19th. Finally, Zacks Investment Research downgraded Cabot from a “buy” rating to a “hold” rating in a research note on Thursday, January 18th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $71.33.

The firm has a market cap of $4,128.47, a P/E ratio of 63.25, a P/E/G ratio of 1.75 and a beta of 1.25. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.63 and a quick ratio of 1.17.

Cabot (NYSE:CBT) last issued its quarterly earnings data on Tuesday, February 6th. The specialty chemicals company reported $0.93 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.15. The business had revenue of $720.00 million for the quarter, compared to the consensus estimate of $653.54 million. Cabot had a return on equity of 15.01% and a net margin of 2.30%. The firm’s revenue was up 17.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.84 EPS. research analysts forecast that Cabot Corp will post 3.81 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 9th. Investors of record on Friday, February 23rd will be paid a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend is Thursday, February 22nd. Cabot’s payout ratio is presently 128.57%.

Institutional investors have recently modified their holdings of the stock. State of Alaska Department of Revenue acquired a new stake in Cabot during the 4th quarter worth $221,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Cabot by 48.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,663 shares of the specialty chemicals company’s stock worth $226,000 after buying an additional 1,194 shares during the period. Signition LP acquired a new stake in Cabot during the 4th quarter worth $229,000. Parametrica Management Ltd acquired a new stake in Cabot during the 3rd quarter worth $217,000. Finally, Virginia Retirement Systems ET AL acquired a new stake in Cabot during the 3rd quarter worth $218,000. 84.02% of the stock is currently owned by institutional investors and hedge funds.

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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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