Cabot (NYSE:CBT) Reaches New 12-Month High at $107.92

Cabot Co. (NYSE:CBT) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $107.92 and last traded at $107.68, with a volume of 18456 shares trading hands. The stock had previously closed at $105.55.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CBT. StockNews.com downgraded Cabot from a “strong-buy” rating to a “buy” rating in a report on Monday, June 24th. UBS Group dropped their price target on shares of Cabot from $103.00 to $98.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Cabot from $95.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cabot presently has a consensus rating of “Hold” and a consensus price target of $101.75.

Cabot Trading Up 1.9 %

The company has a current ratio of 2.22, a quick ratio of 1.45 and a debt-to-equity ratio of 0.72. The company has a market cap of $5.94 billion, a price-to-earnings ratio of 13.64, a price-to-earnings-growth ratio of 0.94 and a beta of 1.19. The firm has a 50-day moving average price of $98.75 and a 200 day moving average price of $96.03.

Cabot (NYSE:CBT) last released 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. Cabot had a net margin of 12.05% and a return on equity of 26.99%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the previous year, the company posted $1.42 earnings per share. The firm’s revenue was up 5.0% on a year-over-year basis. As a group, sell-side analysts forecast that Cabot Co. will post 7.07 EPS for the current year.

Cabot Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a dividend of $0.43 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.72 dividend on an annualized basis and a yield of 1.60%. Cabot’s dividend payout ratio is currently 21.77%.

Insiders Place Their Bets

In related news, CFO Erica Mclaughlin sold 23,274 shares of Cabot stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $99.79, for a total value of $2,322,512.46. Following the sale, the chief financial officer now directly owns 59,814 shares in the company, valued at approximately $5,968,839.06. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Sean D. Keohane sold 25,617 shares of Cabot stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $101.55, for a total transaction of $2,601,406.35. Following the sale, the chief executive officer now directly owns 331,174 shares in the company, valued at $33,630,719.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Erica Mclaughlin sold 23,274 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $99.79, for a total transaction of $2,322,512.46. Following the completion of the transaction, the chief financial officer now owns 59,814 shares of the company’s stock, valued at approximately $5,968,839.06. The disclosure for this sale can be found here. Insiders have sold 71,939 shares of company stock valued at $7,308,812 over the last three months. Company insiders own 3.07% of the company’s stock.

Institutional Trading of Cabot

A number of institutional investors have recently made changes to their positions in CBT. Sanctuary Advisors LLC acquired a new stake in Cabot in the second quarter worth approximately $928,000. Creative Planning boosted its stake in Cabot by 24.7% during the second quarter. Creative Planning now owns 10,614 shares of the specialty chemicals company’s stock valued at $975,000 after buying an additional 2,103 shares in the last quarter. Mackenzie Financial Corp grew its holdings in Cabot by 109.2% during the second quarter. Mackenzie Financial Corp now owns 7,442 shares of the specialty chemicals company’s stock worth $684,000 after acquiring an additional 3,885 shares during the period. Daymark Wealth Partners LLC raised its position in Cabot by 5.7% in the second quarter. Daymark Wealth Partners LLC now owns 14,355 shares of the specialty chemicals company’s stock worth $1,319,000 after acquiring an additional 768 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C acquired a new stake in Cabot in the 2nd quarter valued at about $819,000. 93.18% of the stock is owned by institutional investors and hedge funds.

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.