Shares of Cabot Co. (NYSE:CBT) have been assigned an average rating of “Buy” from the nine ratings firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $76.88.
A number of brokerages have recently commented on CBT. Zacks Investment Research lowered Cabot from a “buy” rating to a “hold” rating and set a $52.00 price target on the stock. in a report on Wednesday, September 15th. TheStreet upgraded Cabot from a “c” rating to a “b-” rating in a report on Monday, November 8th. Deutsche Bank Aktiengesellschaft upped their target price on Cabot from $58.00 to $62.00 and gave the stock a “hold” rating in a report on Tuesday, November 16th. Finally, Jefferies Financial Group began coverage on Cabot in a report on Tuesday, September 14th. They set a “buy” rating and a $75.00 target price on the stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nuveen Asset Management LLC increased its holdings in shares of Cabot by 45.7% during the 1st quarter. Nuveen Asset Management LLC now owns 185,464 shares of the specialty chemicals company’s stock worth $9,726,000 after acquiring an additional 58,159 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Cabot by 16.7% during the first quarter. Ameriprise Financial Inc. now owns 146,096 shares of the specialty chemicals company’s stock worth $7,661,000 after purchasing an additional 20,958 shares during the period. Captrust Financial Advisors boosted its position in Cabot by 32.8% during the first quarter. Captrust Financial Advisors now owns 3,770 shares of the specialty chemicals company’s stock worth $198,000 after purchasing an additional 932 shares during the period. Royal Bank of Canada boosted its position in Cabot by 2.3% during the first quarter. Royal Bank of Canada now owns 270,090 shares of the specialty chemicals company’s stock worth $14,164,000 after purchasing an additional 6,146 shares during the period. Finally, Schonfeld Strategic Advisors LLC bought a new position in Cabot during the first quarter worth $304,000. 90.33% of the stock is owned by institutional investors.
Cabot (NYSE:CBT) last issued its quarterly earnings results on Sunday, November 7th. The specialty chemicals company reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.08. The company had revenue of $904.00 million for the quarter, compared to analyst estimates of $914.88 million. Cabot had a return on equity of 28.15% and a net margin of 7.33%. The company’s quarterly revenue was up 37.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.68 earnings per share. On average, equities analysts forecast that Cabot will post 5.43 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 10th. Shareholders of record on Friday, November 26th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend is Wednesday, November 24th. This is an increase from Cabot’s previous quarterly dividend of $0.35. Cabot’s payout ratio is 32.26%.
Cabot Company Profile
Cabot Corp. is a global specialty chemicals and performance materials company. Its products are rubber and specialty grade carbon blacks, specialty compounds, fumed metal oxides, activated carbons, inkjet colorants, and aerogel. The company operates through the following segments: Reinforcement Materials, Performance Chemicals, and Purification Solutions.
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