Cabot (NYSE:CBT) Sets New 1-Year High at $107.92

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CBT. UBS Group cut their price objective on Cabot from $103.00 to $98.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 6th. StockNews.com lowered Cabot from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 24th. Finally, JPMorgan Chase & Co. upped their target price on shares of Cabot from $95.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $101.75.

Cabot Price Performance

The company has a quick ratio of 1.45, a current ratio of 2.22 and a debt-to-equity ratio of 0.72. The stock has a fifty day moving average of $98.75 and a 200-day moving average of $96.03. The stock has a market capitalization of $5.94 billion, a price-to-earnings ratio of 13.64, a P/E/G ratio of 0.94 and a beta of 1.19.

Cabot (NYSE:CBT) last posted its earnings results 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 firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1 billion. Cabot had a net margin of 12.05% and a return on equity of 26.99%. The company’s revenue was up 5.0% on a year-over-year basis. During the same period last year, the firm posted $1.42 EPS. On average, equities research analysts predict that Cabot Co. will post 7.07 EPS for the current fiscal year.

Cabot Dividend Announcement

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

Insider Activity

In other Cabot 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 transaction of $2,322,512.46. Following the completion of the sale, the chief financial officer now directly 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 Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Sean D. Keohane sold 25,617 shares of Cabot stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 331,174 shares in the company, valued at approximately $33,630,719.70. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Erica Mclaughlin sold 23,274 shares of Cabot stock in a transaction 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 transaction, the chief financial officer now directly owns 59,814 shares of the company’s stock, valued at $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 in the last ninety days. 3.07% of the stock is currently owned by company insiders.

Institutional Trading of Cabot

A number of large investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC grew its holdings in Cabot by 143.1% in the fourth 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 holdings in shares of Cabot by 60.6% during the 2nd 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. 1620 Investment Advisors Inc. purchased a new position in Cabot in the 2nd quarter worth approximately $49,000. Mather Group LLC. acquired a new position in shares of Cabot during the second quarter worth $58,000. Finally, nVerses Capital LLC acquired a new stake in Cabot during the 2nd quarter valued at $64,000. 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.