Cabot (NYSE:CBT) PT Lowered to $98.00 at UBS Group

Cabot (NYSE:CBT) had its price objective reduced by UBS Group from $103.00 to $98.00 in a research report released on Tuesday morning, Benzinga reports. They currently have a neutral rating on the specialty chemicals company’s stock.

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

Cabot Stock Up 0.6 %

Cabot stock opened at $97.23 on Tuesday. Cabot has a 52 week low of $65.10 and a 52 week high of $103.57. The stock has a market cap of $5.37 billion, a price-to-earnings ratio of 12.31, a PEG ratio of 0.96 and a beta of 1.20. The company’s 50-day moving average price is $95.80 and its two-hundred day moving average price is $91.55. The company has a current ratio of 2.24, a quick ratio of 1.47 and a debt-to-equity ratio of 0.72.

Cabot (NYSE:CBT) last posted its quarterly earnings data on Monday, August 5th. The specialty chemicals company reported $1.92 EPS for the quarter, beating 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 business’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter last year, the business earned $1.42 earnings per share. On average, analysts expect that Cabot will post 6.78 EPS for the current fiscal year.

Cabot Announces Dividend

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 paid a $0.43 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.72 dividend on an annualized basis and a yield of 1.77%. Cabot’s dividend payout ratio is currently 21.77%.

Insiders Place Their Bets

In other Cabot news, CFO Erica Mclaughlin sold 23,274 shares of the firm’s 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 completion of the transaction, the chief financial officer now directly owns 59,814 shares in the company, valued at $5,968,839.06. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 3.07% of the company’s stock.

Institutional Investors Weigh In On Cabot

Several hedge funds have recently made changes to their positions in CBT. EverSource Wealth Advisors LLC raised its stake in Cabot by 143.1% during 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. CWM LLC raised its position in Cabot by 60.6% during 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 period. Hexagon Capital Partners LLC lifted its stake in Cabot by 81.8% in the 4th quarter. Hexagon Capital Partners LLC now owns 460 shares of the specialty chemicals company’s stock worth $38,000 after acquiring an additional 207 shares in the last quarter. SRS Capital Advisors Inc. boosted its position in 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, 1620 Investment Advisors Inc. purchased a new position in Cabot during the 2nd quarter valued at about $49,000. Hedge funds and other institutional investors own 93.18% of the company’s stock.

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.