Cabot (NYSE:CBT) Reaches New 12-Month High at $107.92

Cabot Co. (NYSE:CBT)’s stock price hit a new 52-week high on Tuesday . The company traded as high as $107.92 and last traded at $107.68, with a volume of 18456 shares traded. The stock had previously closed at $105.55.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CBT shares. UBS Group dropped their target price on shares of Cabot from $103.00 to $98.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. JPMorgan Chase & Co. increased their price objective on shares of Cabot from $95.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Finally, StockNews.com lowered shares of Cabot from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 24th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Cabot currently has an average rating of “Hold” and an average target price of $101.75.

Cabot Stock Up 0.4 %

The company’s fifty day moving average price is $99.49 and its 200-day moving average price is $96.27. The stock has a market cap of $5.96 billion, a P/E ratio of 13.65, a price-to-earnings-growth ratio of 0.94 and a beta of 1.19. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.45 and a current ratio of 2.22.

Cabot (NYSE:CBT) last released its earnings results on Monday, August 5th. The specialty chemicals company reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.20. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1 billion. Cabot had a net margin of 12.05% and a return on equity of 26.99%. The business’s revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the business earned $1.42 EPS. Equities analysts forecast that Cabot Co. will post 7.07 EPS for the current year.

Cabot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a $0.43 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.72 annualized dividend and a dividend yield of 1.59%. Cabot’s dividend payout ratio (DPR) is presently 21.77%.

Insider Transactions at Cabot

In other news, CEO Sean D. Keohane sold 25,617 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $101.55, for a total value of $2,601,406.35. Following the completion of the sale, the chief executive officer now owns 331,174 shares in the company, valued at approximately $33,630,719.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Sean D. Keohane sold 25,617 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $101.55, for a total value of $2,601,406.35. Following the transaction, the chief executive officer now owns 331,174 shares of the company’s stock, valued at approximately $33,630,719.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Erica Mclaughlin sold 23,274 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $99.79, for a total transaction of $2,322,512.46. Following the completion of the transaction, the chief financial officer now directly owns 59,814 shares in the company, valued at approximately $5,968,839.06. The disclosure for this sale can be found here. In the last quarter, insiders sold 71,939 shares of company stock worth $7,308,812. 3.07% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CBT. EverSource Wealth Advisors LLC boosted its holdings in shares of Cabot by 33.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 475 shares of the specialty chemicals company’s stock valued at $48,000 after buying an additional 119 shares in the last quarter. Banque Cantonale Vaudoise lifted its stake in shares of Cabot by 17.5% in the 1st quarter. Banque Cantonale Vaudoise now owns 833 shares of the specialty chemicals company’s stock valued at $77,000 after purchasing an additional 124 shares during the period. Miller Howard Investments Inc. NY lifted its stake in shares of Cabot by 4.4% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 3,162 shares of the specialty chemicals company’s stock valued at $291,000 after purchasing an additional 132 shares during the period. Los Angeles Capital Management LLC lifted its stake in shares of Cabot by 1.4% in the 1st quarter. Los Angeles Capital Management LLC now owns 10,851 shares of the specialty chemicals company’s stock valued at $1,000,000 after purchasing an additional 145 shares during the period. Finally, CWM LLC raised its position in Cabot by 60.6% during the second quarter. CWM LLC now owns 416 shares of the specialty chemicals company’s stock worth $38,000 after acquiring an additional 157 shares during the period. Hedge funds and other institutional investors own 93.18% of the company’s stock.

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.