Cabot Co. (NYSE:CBT) has received an average recommendation of “Buy” from the nine research firms that are currently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $68.75.
A number of research firms have recently commented on CBT. TheStreet upgraded Cabot from a “c” rating to a “b-” rating in a research report on Monday, November 8th. UBS Group cut their target price on Cabot from $75.00 to $70.00 and set a “buy” rating on the stock in a research report on Tuesday, January 4th. Loop Capital lifted their target price on Cabot from $81.00 to $86.00 and gave the stock a “buy” rating in a research report on Monday, November 29th. Deutsche Bank Aktiengesellschaft cut their target price on Cabot from $62.00 to $60.00 and set a “hold” rating on the stock in a research report on Tuesday, December 7th. Finally, Barclays boosted their price target on Cabot from $70.00 to $72.00 and gave the company an “overweight” rating in a research report on Friday, December 3rd.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CBT. Nisa Investment Advisors LLC increased its position in Cabot by 100.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,000 shares of the specialty chemicals company’s stock worth $57,000 after purchasing an additional 500 shares during the period. Parisi Gray Wealth Management acquired a new position in Cabot during the 2nd quarter worth approximately $69,000. First Bank & Trust increased its position in Cabot by 18.7% during the 2nd quarter. First Bank & Trust now owns 1,994 shares of the specialty chemicals company’s stock worth $113,000 after purchasing an additional 314 shares during the period. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Cabot during the 3rd quarter worth approximately $125,000. Finally, Carolina Wealth Advisors LLC increased its position in Cabot by 21.3% during the 3rd quarter. Carolina Wealth Advisors LLC now owns 3,040 shares of the specialty chemicals company’s stock worth $152,000 after purchasing an additional 533 shares during the period. Institutional investors own 89.19% of the company’s stock.
Cabot (NYSE:CBT) last announced its quarterly earnings results on Sunday, November 7th. The specialty chemicals company reported $1.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.03 by $0.08. The company had revenue of $904.00 million during the quarter, compared to the consensus estimate of $914.88 million. Cabot had a return on equity of 28.15% and a net margin of 7.33%. Cabot’s revenue for the quarter was up 37.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.68 EPS. Research analysts forecast that Cabot will post 5.38 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 10th. Shareholders of record on Friday, November 26th were given a dividend of $0.37 per share. This is a boost from Cabot’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Wednesday, November 24th. This represents a $1.48 annualized dividend and a yield of 2.42%. Cabot’s payout ratio is presently 34.10%.
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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