Morgan Stanley raised its stake in shares of Cabot Co. (NYSE:CBT) by 422.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 122,866 shares of the specialty chemicals company’s stock after buying an additional 99,345 shares during the quarter. Morgan Stanley owned about 0.22% of Cabot worth $4,428,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Wedge Capital Management L L P NC grew its position in shares of Cabot by 1.4% during the 3rd quarter. Wedge Capital Management L L P NC now owns 200,494 shares of the specialty chemicals company’s stock worth $7,224,000 after buying an additional 2,674 shares during the period. FMR LLC increased its position in shares of Cabot by 113.6% during the 2nd quarter. FMR LLC now owns 576,301 shares of the specialty chemicals company’s stock worth $21,352,000 after purchasing an additional 306,501 shares during the last quarter. Ensign Peak Advisors Inc increased its position in shares of Cabot by 121.4% during the 2nd quarter. Ensign Peak Advisors Inc now owns 401,767 shares of the specialty chemicals company’s stock worth $14,885,000 after purchasing an additional 220,311 shares during the last quarter. Comerica Bank increased its position in shares of Cabot by 1.1% during the 3rd quarter. Comerica Bank now owns 121,444 shares of the specialty chemicals company’s stock worth $4,991,000 after purchasing an additional 1,358 shares during the last quarter. Finally, Bank of Montreal Can increased its position in shares of Cabot by 57.1% during the 2nd quarter. Bank of Montreal Can now owns 9,037 shares of the specialty chemicals company’s stock worth $321,000 after purchasing an additional 3,283 shares during the last quarter. Institutional investors own 77.67% of the company’s stock.
Several research firms have weighed in on CBT. UBS Group boosted their price target on Cabot from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Thursday, November 5th. Barclays boosted their price target on Cabot from $50.00 to $53.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 25th. The Goldman Sachs Group boosted their price target on Cabot from $136.00 to $143.00 and gave the stock a “sell” rating in a research report on Monday, December 14th. BidaskClub raised Cabot from a “hold” rating to a “buy” rating in a report on Friday, December 18th. Finally, Zacks Investment Research raised Cabot from a “sell” rating to a “hold” rating and set a $40.00 target price on the stock in a report on Monday, November 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $56.13.
Shares of NYSE CBT opened at $44.88 on Friday. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.85 and a quick ratio of 1.17. The stock’s fifty day moving average price is $42.79 and its two-hundred day moving average price is $39.54. Cabot Co. has a one year low of $20.00 and a one year high of $48.18. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of -10.58 and a beta of 1.60.
Cabot (NYSE:CBT) last issued its quarterly earnings data on Sunday, November 22nd. The specialty chemicals company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.10. Cabot had a positive return on equity of 11.67% and a negative net margin of 9.10%. The firm had revenue of $659.00 million for the quarter, compared to analyst estimates of $655.58 million. On average, equities analysts anticipate that Cabot Co. will post 3.36 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 11th. Shareholders of record on Friday, November 27th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend was Wednesday, November 25th. Cabot’s dividend payout ratio is 67.31%.
Cabot Company Profile
Cabot Corporation operates as a specialty chemicals and performance materials company. It operates through three segments: Reinforcement Materials, Performance Chemicals, and Purification Solutions. The company offers rubber grade carbon blacks 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.
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