Cabot Corporation (NYSE:CBT) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research lowered shares of Cabot Corporation (NYSE:CBT) from a buy rating to a hold rating in a research note released on Tuesday, November 7th.

According to Zacks, “Cabot Corporation is a global specialty chemicals and materials company. Cabot’s major products are carbon black, fumed silica, inkjet colorants, and aerogels. Cabot has manufacturing plants located in countries around the world. (Company Press Release) “

A number of other research firms have also issued reports on CBT. ValuEngine lowered shares of Cabot from a buy rating to a hold rating in a research report on Friday, July 28th. J P Morgan Chase & Co raised Cabot from a neutral rating to an overweight rating and set a $57.00 target price on the stock in a report on Tuesday, August 15th. BidaskClub lowered Cabot from a buy rating to a hold rating in a report on Monday, July 31st. Loop Capital began coverage on Cabot in a report on Thursday, September 28th. They issued a hold rating and a $59.00 target price on the stock. Finally, KeyCorp reissued a hold rating on shares of Cabot in a report on Wednesday, November 1st. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $61.14.

Shares of Cabot (NYSE:CBT) traded up $0.72 during mid-day trading on Tuesday, hitting $61.39. 135,871 shares of the stock were exchanged, compared to its average volume of 396,865. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.70 and a quick ratio of 1.17. The company has a market capitalization of $3,803.11, a price-to-earnings ratio of 17.90, a PEG ratio of 1.62 and a beta of 1.11. Cabot has a 52-week low of $50.21 and a 52-week high of $64.66.

Cabot (NYSE:CBT) last announced its earnings results on Tuesday, October 31st. The specialty chemicals company reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.02). The business had revenue of $723.00 million for the quarter, compared to the consensus estimate of $683.30 million. Cabot had a net margin of 8.87% and a return on equity of 15.11%. The business’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.00 earnings per share. sell-side analysts forecast that Cabot will post 3.78 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 24th will be paid a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Wednesday, November 22nd. Cabot’s payout ratio is currently 33.07%.

In related news, insider Hobart Kalkstein sold 3,881 shares of the stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $53.39, for a total transaction of $207,206.59. Following the sale, the insider now owns 27,736 shares of the company’s stock, valued at $1,480,825.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.50% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Cabot by 9.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,469 shares of the specialty chemicals company’s stock worth $132,000 after buying an additional 209 shares in the last quarter. Old Mutual Global Investors UK Ltd. bought a new position in shares of Cabot during the 2nd quarter valued at approximately $155,000. Integrated Investment Consultants LLC grew its position in shares of Cabot by 66.1% during the 2nd quarter. Integrated Investment Consultants LLC now owns 3,097 shares of the specialty chemicals company’s stock valued at $165,000 after acquiring an additional 1,233 shares during the period. Parametrica Management Ltd bought a new position in shares of Cabot during the 3rd quarter valued at approximately $217,000. Finally, Virginia Retirement Systems ET AL bought a new position in shares of Cabot during the 3rd quarter valued at approximately $218,000. 84.77% of the stock is currently owned by institutional investors and hedge funds.

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About Cabot

Cabot Corporation is a global specialty chemicals and performance materials company. The Company operates through four business segments: reinforcement materials, performance chemicals, purification solutions and specialty fluids. Reinforcement materials’ rubber grade carbon blacks are used to enhance the physical properties of the systems and applications in which they are incorporated.

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