Cabot (NYSE:CBT) PT Lowered to $98.00

Cabot (NYSE:CBT) had its price objective lowered by UBS Group from $103.00 to $98.00 in a research report sent to investors on Tuesday, Benzinga reports. The brokerage currently has a neutral rating on the specialty chemicals company’s stock.

Several other research firms have also recently weighed in on CBT. StockNews.com cut Cabot from a strong-buy rating to a buy rating in a research report on Monday, June 24th. Deutsche Bank Aktiengesellschaft cut Cabot from a buy rating to a hold rating and boosted their target price for the company from $88.00 to $95.00 in a research note on Thursday, April 18th. Finally, Mizuho raised their price target on shares of Cabot from $104.00 to $109.00 and gave the stock a buy rating in a research note on Tuesday, May 7th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and a consensus target price of $101.75.

Cabot Stock Performance

Shares of CBT opened at $97.23 on Tuesday. The firm has a market cap of $5.37 billion, a P/E ratio of 12.31, a PEG ratio of 0.96 and a beta of 1.20. Cabot has a twelve month low of $65.10 and a twelve month high of $103.57. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.47 and a current ratio of 2.24. The firm’s 50 day moving average price is $95.80 and its two-hundred day moving average price is $91.55.

Cabot (NYSE:CBT) last issued its quarterly earnings data on Monday, August 5th. The specialty chemicals company reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.20. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1 billion. Cabot had a net margin of 11.51% and a return on equity of 26.21%. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period last year, the business posted $1.42 earnings per share. On average, analysts forecast that Cabot will post 6.78 EPS for the current fiscal year.

Cabot Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.72 annualized dividend and a yield of 1.77%. Cabot’s dividend payout ratio (DPR) is presently 21.77%.

Insider Buying and Selling at Cabot

In other news, CFO Erica Mclaughlin sold 23,274 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $99.79, for a total value of $2,322,512.46. Following the completion of the sale, the chief financial officer now owns 59,814 shares of the company’s stock, valued at approximately $5,968,839.06. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 3.07% of the company’s stock.

Institutional Trading of Cabot

A number of large investors have recently added to or reduced their stakes in CBT. EverSource Wealth Advisors LLC raised its holdings in shares of Cabot by 143.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 333 shares of the specialty chemicals company’s stock valued at $28,000 after purchasing an additional 196 shares during the period. Hexagon Capital Partners LLC raised its stake in Cabot by 81.8% in the fourth quarter. Hexagon Capital Partners LLC now owns 460 shares of the specialty chemicals company’s stock valued at $38,000 after buying an additional 207 shares during the period. CWM LLC lifted its position in shares of Cabot by 60.6% in the second quarter. CWM LLC now owns 416 shares of the specialty chemicals company’s stock valued at $38,000 after buying an additional 157 shares during the last quarter. SRS Capital Advisors Inc. boosted its stake in shares of Cabot by 372.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 505 shares of the specialty chemicals company’s stock worth $42,000 after acquiring an additional 398 shares during the period. Finally, GAMMA Investing LLC acquired a new position in shares of Cabot during the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 93.18% of the company’s stock.

Cabot Company Profile

Cabot Corporation operates as a specialty chemicals and performance materials company. The company operates through two segments, Reinforcement Materials and Performance Chemicals. It offers reinforcing carbons that are 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 solutions.