Cabot (NYSE:CBT) Price Target Raised to $105.00

Cabot (NYSE:CBT) had its target price raised by JPMorgan Chase & Co. from $95.00 to $105.00 in a research note released on Wednesday morning, Benzinga reports. They currently have a neutral rating on the specialty chemicals company’s stock.

Other equities research analysts have also issued research reports about the stock. Mizuho upped their target price on shares of Cabot from $104.00 to $109.00 and gave the stock a buy rating in a report on Tuesday, May 7th. StockNews.com lowered shares of Cabot from a strong-buy rating to a buy rating in a report on Monday, June 24th. UBS Group lowered their target price on shares of Cabot from $103.00 to $98.00 and set a neutral rating on the stock in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Cabot from a buy rating to a hold rating and upped their target price for the stock from $88.00 to $95.00 in a report on Thursday, April 18th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Cabot presently has a consensus rating of Hold and a consensus target price of $101.75.

Cabot Stock Performance

Cabot stock traded down $1.08 on Wednesday, hitting $96.15. The company’s stock had a trading volume of 403,562 shares, compared to its average volume of 334,412. The firm has a market cap of $5.31 billion, a P/E ratio of 12.17, a price-to-earnings-growth ratio of 0.96 and a beta of 1.20. The company has a quick ratio of 1.47, a current ratio of 2.24 and a debt-to-equity ratio of 0.72. The company has a fifty day moving average price of $95.68 and a 200-day moving average price of $91.81. Cabot has a one year low of $65.10 and a one year high of $103.57.

Cabot (NYSE:CBT) last announced its quarterly earnings results on Monday, August 5th. The specialty chemicals company reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.20. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1 billion. Cabot had a net margin of 11.51% and a return on equity of 26.21%. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.42 EPS. On average, equities analysts anticipate that Cabot will post 6.78 earnings per share for the current year.

Cabot Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be given a dividend of $0.43 per share. The ex-dividend date is Friday, August 30th. This represents a $1.72 dividend on an annualized basis and a yield of 1.79%. Cabot’s payout ratio is presently 21.77%.

Insider Buying and Selling at Cabot

In other Cabot news, CFO Erica Mclaughlin sold 23,274 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $99.79, for a total transaction of $2,322,512.46. Following the transaction, the chief financial officer now directly owns 59,814 shares in the company, valued at approximately $5,968,839.06. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 3.07% of the company’s stock.

Institutional Trading of Cabot

Hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its position in shares of Cabot by 143.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 333 shares of the specialty chemicals company’s stock valued at $28,000 after acquiring an additional 196 shares during the period. CWM LLC raised its position in shares of Cabot by 60.6% in the 2nd quarter. CWM LLC now owns 416 shares of the specialty chemicals company’s stock valued at $38,000 after acquiring an additional 157 shares during the period. Hexagon Capital Partners LLC raised its position in shares of Cabot by 81.8% in the 4th quarter. Hexagon Capital Partners LLC now owns 460 shares of the specialty chemicals company’s stock valued at $38,000 after acquiring an additional 207 shares during the period. SRS Capital Advisors Inc. raised its position in shares of Cabot by 372.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 505 shares of the specialty chemicals company’s stock valued at $42,000 after acquiring an additional 398 shares during the period. Finally, 1620 Investment Advisors Inc. acquired a new stake in Cabot during the 2nd quarter worth approximately $49,000. 93.18% of the stock is currently owned by institutional investors and hedge funds.

About Cabot

Cabot Corporation operates as a specialty chemicals and performance materials company. The company operates through two segments, Reinforcement Materials and Performance Chemicals. It offers reinforcing carbons that are 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 solutions.