Cabot Co. (NYSE:CBT – Get Free Report) was the recipient of a large decrease in short interest during the month of September. As of September 30th, there was short interest totalling 2,380,000 shares, a decrease of 5.6% from the September 15th total of 2,520,000 shares. Based on an average trading volume of 376,100 shares, the days-to-cover ratio is presently 6.3 days. Approximately 4.4% of the company’s shares are sold short.
Cabot Price Performance
Cabot stock opened at $113.45 on Wednesday. The firm has a market capitalization of $6.27 billion, a PE ratio of 14.36, a P/E/G ratio of 0.93 and a beta of 1.19. Cabot has a 52 week low of $65.10 and a 52 week high of $115.49. The firm’s 50-day simple moving average is $104.90 and its 200 day simple moving average is $99.29. The company has a quick ratio of 1.45, a current ratio of 2.22 and a debt-to-equity ratio of 0.72.
Cabot (NYSE:CBT – Get Free Report) last released its quarterly earnings results on Monday, August 5th. The specialty chemicals company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.72 by $0.20. Cabot had a net margin of 12.05% and a return on equity of 26.99%. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1 billion. During the same period in the prior year, the business earned $1.42 earnings per share. The company’s quarterly revenue was up 5.0% on a year-over-year basis. On average, equities research analysts predict that Cabot will post 7.07 EPS for the current fiscal year.
Insider Transactions at Cabot
Hedge Funds Weigh In On Cabot
A number of institutional investors have recently made changes to their positions in CBT. Earnest Partners LLC increased its position in Cabot by 2.4% during the 2nd quarter. Earnest Partners LLC now owns 3,363,398 shares of the specialty chemicals company’s stock worth $309,063,000 after purchasing an additional 80,096 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Cabot by 0.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,348,972 shares of the specialty chemicals company’s stock worth $123,965,000 after buying an additional 4,437 shares in the last quarter. American Century Companies Inc. raised its position in shares of Cabot by 7.3% in the second quarter. American Century Companies Inc. now owns 976,709 shares of the specialty chemicals company’s stock valued at $89,750,000 after buying an additional 66,171 shares during the last quarter. Sei Investments Co. boosted its position in Cabot by 5.9% during the second quarter. Sei Investments Co. now owns 913,259 shares of the specialty chemicals company’s stock worth $83,919,000 after acquiring an additional 51,178 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Cabot by 1.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 693,580 shares of the specialty chemicals company’s stock worth $63,733,000 after acquiring an additional 11,986 shares during the period. 93.18% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on CBT shares. JPMorgan Chase & Co. lifted their price objective on Cabot from $95.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. UBS Group reduced their target price on Cabot from $103.00 to $98.00 and set a “neutral” rating for the company in a report on Tuesday, August 6th. Finally, StockNews.com downgraded shares of Cabot from a “strong-buy” rating to a “buy” rating in a report on Monday, June 24th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Cabot currently has a consensus rating of “Hold” and an average target price of $101.75.
About Cabot
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.
Read More
- Five stocks we like better than Cabot
- Stock Analyst Ratings and Canadian Analyst Ratings
- Goldman Sachs Earnings Reveal Market Moves Investors Can’t Ignore
- Upcoming IPO Stock Lockup Period, Explained
- AMD Gains Momentum With AI: Can It Beat Expectations?
- Dividend Screener: How to Evaluate Dividend Stocks Before Buying
- Lithium Grab: 2 Lithium Stocks That Could Be Takeover Targets
Receive News & Ratings for Cabot Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cabot and related companies with MarketBeat.com's FREE daily email newsletter.