BidaskClub upgraded shares of Cabot Corporation (NYSE:CBT) from a sell rating to a hold rating in a research report sent to investors on Friday.
Several other equities analysts also recently commented on the stock. Zacks Investment Research upgraded shares of Cabot Corporation from a hold rating to a buy rating and set a $68.00 price target for the company in a research note on Friday, April 28th. Northcoast Research upgraded shares of Cabot Corporation from a neutral rating to a buy rating and set a $63.00 price target for the company in a research note on Wednesday, May 24th. SunTrust Banks, Inc. started coverage on shares of Cabot Corporation in a research note on Tuesday, April 18th. They issued a buy rating and a $56.00 price target for the company. Finally, Jefferies Group LLC restated a buy rating and issued a $68.00 price target on shares of Cabot Corporation in a research note on Tuesday, May 2nd. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $61.00.
Shares of Cabot Corporation (CBT) opened at 54.79 on Friday. The firm’s 50-day moving average price is $52.91 and its 200-day moving average price is $55.54. Cabot Corporation has a 12-month low of $42.27 and a 12-month high of $61.34. The stock has a market cap of $3.42 billion, a price-to-earnings ratio of 14.67 and a beta of 1.08.
Cabot Corporation (NYSE:CBT) last posted its earnings results on Monday, May 1st. The specialty chemicals company reported $0.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.02. Cabot Corporation had a net margin of 9.33% and a return on equity of 16.83%. The firm had revenue of $678 million during the quarter, compared to the consensus estimate of $637.57 million. During the same quarter last year, the firm earned $0.70 EPS. The firm’s revenue for the quarter was up 19.4% on a year-over-year basis. On average, analysts forecast that Cabot Corporation will post $3.47 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which was paid on Friday, June 9th. Shareholders of record on Friday, May 26th were paid a $0.315 dividend. This is an increase from Cabot Corporation’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, May 24th. This represents a $1.26 annualized dividend and a dividend yield of 2.30%. Cabot Corporation’s payout ratio is 33.69%.
Several institutional investors have recently bought and sold shares of CBT. BlackRock Inc. increased its position in Cabot Corporation by 5,702.4% in the first quarter. BlackRock Inc. now owns 7,038,411 shares of the specialty chemicals company’s stock valued at $421,670,000 after buying an additional 6,917,109 shares during the period. Norges Bank acquired a new position in Cabot Corporation during the fourth quarter valued at approximately $37,848,000. AQR Capital Management LLC increased its position in Cabot Corporation by 15.1% in the fourth quarter. AQR Capital Management LLC now owns 2,472,179 shares of the specialty chemicals company’s stock valued at $124,944,000 after buying an additional 324,021 shares during the period. Federated Investors Inc. PA increased its position in Cabot Corporation by 80.4% in the fourth quarter. Federated Investors Inc. PA now owns 365,005 shares of the specialty chemicals company’s stock valued at $18,448,000 after buying an additional 162,703 shares during the period. Finally, Bank of America Corp DE increased its position in Cabot Corporation by 22.9% in the first quarter. Bank of America Corp DE now owns 703,563 shares of the specialty chemicals company’s stock valued at $42,151,000 after buying an additional 131,109 shares during the period. Institutional investors and hedge funds own 85.53% of the company’s stock.
About Cabot Corporation
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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