Cabot Corp. (CBT) Receives $53.00 Consensus PT from Brokerages
Shares of Cabot Corp. (NYSE:CBT) have earned an average recommendation of “Hold” from the seven brokerages that are covering the company. Five equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $53.00.
A number of research analysts recently issued reports on the company. Jefferies Group reiterated a “buy” rating and set a $60.00 price objective on shares of Cabot Corp. in a report on Monday, November 7th. Zacks Investment Research upgraded Cabot Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, July 26th. TheStreet downgraded Cabot Corp. from a “buy” rating to a “hold” rating in a report on Monday, October 31st. Deutsche Bank AG increased their price objective on Cabot Corp. from $48.00 to $52.00 and gave the stock a “hold” rating in a report on Friday, August 12th. Finally, SunTrust Banks Inc. downgraded Cabot Corp. from a “buy” rating to a “neutral” rating and set a $51.00 price objective for the company. in a report on Tuesday, August 2nd. They noted that the move was a valuation call.
In other news, VP James Patrick Kelly sold 2,500 shares of Cabot Corp. stock in a transaction that occurred on Wednesday, September 28th. The stock was sold at an average price of $52.95, for a total transaction of $132,375.00. Following the completion of the transaction, the vice president now directly owns 22,085 shares in the company, valued at approximately $1,169,400.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gottberg Friedrich Von sold 19,553 shares of Cabot Corp. stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $51.05, for a total value of $998,180.65. Following the transaction, the insider now owns 26,207 shares of the company’s stock, valued at $1,337,867.35. The disclosure for this sale can be found here. 2.48% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Cabot Corp. by 12.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,260 shares of the company’s stock valued at $118,000 after buying an additional 249 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Cabot Corp. by 14.5% in the second quarter. PNC Financial Services Group Inc. now owns 2,636 shares of the company’s stock valued at $121,000 after buying an additional 333 shares in the last quarter. Citigroup Inc. increased its position in shares of Cabot Corp. by 45.9% in the second quarter. Citigroup Inc. now owns 2,707 shares of the company’s stock valued at $123,000 after buying an additional 852 shares in the last quarter. Acrospire Investment Management LLC increased its position in shares of Cabot Corp. by 93.3% in the second quarter. Acrospire Investment Management LLC now owns 2,900 shares of the company’s stock valued at $132,000 after buying an additional 1,400 shares in the last quarter. Finally, Bank of Montreal Can acquired a new position in shares of Cabot Corp. during the second quarter valued at approximately $148,000. Institutional investors own 86.14% of the company’s stock.
Cabot Corp. (NYSE:CBT) opened at 50.78 on Monday. The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of 21.55 and a beta of 1.25. The stock’s 50 day moving average price is $51.25 and its 200-day moving average price is $48.70. Cabot Corp. has a one year low of $36.12 and a one year high of $53.88.
Cabot Corp. (NYSE:CBT) last posted its quarterly earnings data on Monday, October 31st. The company reported $1.00 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.06. The business earned $619 million during the quarter, compared to the consensus estimate of $654.40 million. Cabot Corp. had a return on equity of 14.77% and a net margin of 6.18%. Cabot Corp.’s quarterly revenue was down 7.7% on a year-over-year basis. During the same period last year, the company earned $0.78 earnings per share. On average, equities research analysts expect that Cabot Corp. will post $3.43 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 9th. Shareholders of record on Friday, November 25th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, November 22nd. This represents a $1.20 dividend on an annualized basis and a yield of 2.36%. Cabot Corp.’s dividend payout ratio is 50.85%.
Cabot Corp. Company Profile
Cabot Corporation (Cabot) is a global specialty chemicals and performance materials company. The Company’s principal products are rubber and specialty grade carbon blacks, fumed metal oxides, activated carbon, inkjet colorants, aerogel and cesium formate drilling fluids. The Company operates through four segments: Reinforcement Materials, Performance Chemicals, Purification Solutions and Specialty Fluids.
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