Cabot (NYSE:CBT) Downgraded to Underweight Rating by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of Cabot (NYSE:CBT) from a neutral rating to an underweight rating in a report issued on Monday, MarketBeat.com reports. The brokerage currently has $105.00 price target on the specialty chemicals company’s stock.

Several other equities analysts have also recently issued reports on the stock. Mizuho upped their price target on shares of Cabot from $103.00 to $122.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. UBS Group reduced their price objective on shares of Cabot from $103.00 to $98.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Cabot currently has a consensus rating of “Hold” and a consensus price target of $105.00.

Cabot Price Performance

CBT stock opened at $110.92 on Monday. The company has a 50 day simple moving average of $109.78 and a 200 day simple moving average of $101.98. The stock has a market cap of $6.08 billion, a price-to-earnings ratio of 16.46, a P/E/G ratio of 0.96 and a beta of 1.20. Cabot has a 1 year low of $70.63 and a 1 year high of $117.46. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.08 and a quick ratio of 1.36.

Cabot (NYSE:CBT) last released its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.01). The company had revenue of $1 billion for the quarter, compared to analyst estimates of $1.01 billion. Cabot had a return on equity of 26.60% and a net margin of 9.51%. Cabot’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.65 earnings per share. Research analysts anticipate that Cabot will post 7.7 EPS for the current fiscal year.

Cabot Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend is Friday, November 29th. Cabot’s dividend payout ratio (DPR) is 25.52%.

Insider Activity

In other news, EVP Hobart Kalkstein sold 5,457 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $100.58, for a total value of $548,865.06. Following the completion of the sale, the executive vice president now owns 61,688 shares in the company, valued at $6,204,579.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Hobart Kalkstein sold 5,457 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $100.58, for a total transaction of $548,865.06. Following the completion of the sale, the executive vice president now owns 61,688 shares in the company, valued at approximately $6,204,579.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Jeff Ji Zhu sold 1,201 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $106.19, for a total transaction of $127,534.19. Following the sale, the executive vice president now owns 96,000 shares of the company’s stock, valued at $10,194,240. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 83,424 shares of company stock worth $8,991,579 over the last quarter. Insiders own 3.07% of the company’s stock.

Hedge Funds Weigh In On Cabot

Large investors have recently modified their holdings of the company. Wolff Wiese Magana LLC bought a new stake in Cabot during the third quarter valued at approximately $25,000. CWM LLC lifted its position in Cabot by 60.6% during the second quarter. CWM LLC now owns 416 shares of the specialty chemicals company’s stock valued at $38,000 after purchasing an additional 157 shares during the last quarter. UMB Bank n.a. lifted its position in Cabot by 53.9% during the third quarter. UMB Bank n.a. now owns 371 shares of the specialty chemicals company’s stock valued at $41,000 after purchasing an additional 130 shares during the last quarter. Farther Finance Advisors LLC lifted its position in Cabot by 197.9% during the third quarter. Farther Finance Advisors LLC now owns 417 shares of the specialty chemicals company’s stock valued at $47,000 after purchasing an additional 277 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in Cabot by 33.4% during the second quarter. EverSource Wealth Advisors LLC now owns 475 shares of the specialty chemicals company’s stock valued at $48,000 after purchasing an additional 119 shares during the last quarter. 93.18% of the stock is currently owned by institutional investors.

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.