Cabot (NYSE:CBT) Stock Price Up 6.7% – Here’s What Happened

Cabot Corporation (NYSE:CBT)’s stock price rose 6.7% during mid-day trading on Thursday . The stock traded as high as $92.90 and last traded at $93.3770. 16,907 shares were traded during trading, a decline of 96% from the average session volume of 464,908 shares. The stock had previously closed at $87.49.

Analysts Set New Price Targets

CBT has been the subject of several recent analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Cabot in a research note on Tuesday, May 26th. Mizuho raised their target price on shares of Cabot from $80.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday. Wall Street Zen upgraded shares of Cabot from a “hold” rating to a “buy” rating in a report on Sunday, June 14th. JPMorgan Chase & Co. increased their price objective on shares of Cabot from $68.00 to $70.00 and gave the company an “underweight” rating in a report on Wednesday, May 13th. Finally, Truist Financial started coverage on Cabot in a research report on Monday, June 8th. They set a “buy” rating and a $98.00 price objective for the company. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Cabot currently has an average rating of “Hold” and an average price target of $85.80.

Cabot Stock Up 1.1%

The company has a debt-to-equity ratio of 0.51, a current ratio of 1.45 and a quick ratio of 0.96. The company’s 50-day simple moving average is $82.44 and its 200 day simple moving average is $75.41. The firm has a market cap of $4.80 billion, a P/E ratio of 17.58, a price-to-earnings-growth ratio of 11.51 and a beta of 0.82.

Cabot (NYSE:CBT) last issued its quarterly earnings results on Tuesday, May 5th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.14. Cabot had a return on equity of 21.33% and a net margin of 7.97%.The company had revenue of $904.00 million during the quarter, compared to the consensus estimate of $900.30 million. During the same period last year, the company earned $1.90 earnings per share. Cabot’s revenue was down 3.4% on a year-over-year basis. Cabot has set its FY 2026 guidance at 6.000-6.50 EPS. Research analysts anticipate that Cabot Corporation will post 6.34 EPS for the current fiscal year.

Cabot Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 29th were paid a dividend of $0.4725 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $1.89 dividend on an annualized basis and a dividend yield of 2.0%. This is a boost from Cabot’s previous quarterly dividend of $0.45. Cabot’s dividend payout ratio is presently 35.73%.

Institutional Trading of Cabot

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CBT. Torren Management LLC purchased a new position in shares of Cabot during the fourth quarter valued at approximately $26,000. Rothschild Investment LLC raised its holdings in shares of Cabot by 170.4% in the fourth quarter. Rothschild Investment LLC now owns 411 shares of the specialty chemicals company’s stock worth $27,000 after buying an additional 259 shares during the period. Global Retirement Partners LLC lifted its stake in shares of Cabot by 1,606.9% during the 4th quarter. Global Retirement Partners LLC now owns 495 shares of the specialty chemicals company’s stock worth $33,000 after acquiring an additional 466 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in Cabot by 409.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 453 shares of the specialty chemicals company’s stock valued at $38,000 after acquiring an additional 364 shares during the period. Finally, Danske Bank A S purchased a new position in Cabot during the 3rd quarter valued at $38,000. 93.18% of the stock is owned by hedge funds and other institutional investors.

Cabot Company Profile

Cabot Corporation is a global specialty chemicals and performance materials company headquartered in Boston, Massachusetts. Founded in 1882 by Godfrey Lowell Cabot, the company has grown into a diversified manufacturer with operations across North America, Europe, Asia and Latin America. Cabot serves a wide range of end markets, including automotive, industrial, energy, and consumer products, supplying essential ingredients that enhance performance, durability and functionality.

The company operates two primary segments: Reinforcement Materials and Performance Materials.