Cabot (NYSE:CBT) Reaches New 52-Week High on Analyst Upgrade

Cabot Co. (NYSE:CBT) shares reached a new 52-week high during trading on Wednesday after Mizuho raised their price target on the stock from $103.00 to $122.00. Mizuho currently has an outperform rating on the stock. Cabot traded as high as $117.37 and last traded at $116.10, with a volume of 186245 shares trading hands. The stock had previously closed at $108.86.

Several other brokerages also recently commented on CBT. UBS Group cut their price objective on Cabot from $103.00 to $98.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 6th. JPMorgan Chase & Co. boosted their target price on shares of Cabot from $95.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Cabot presently has a consensus rating of “Hold” and a consensus target price of $105.00.

Insider Buying and Selling

In other Cabot news, CEO Sean D. Keohane sold 25,617 shares of Cabot stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $101.55, for a total transaction of $2,601,406.35. Following the completion of the sale, the chief executive officer now directly owns 331,174 shares of the company’s stock, valued at $33,630,719.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Hobart Kalkstein sold 5,457 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $100.58, for a total transaction of $548,865.06. Following the transaction, the executive vice president now directly 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sean D. Keohane sold 25,617 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $101.55, for a total transaction of $2,601,406.35. Following the completion of the transaction, the chief executive officer now directly owns 331,174 shares of the company’s stock, valued at $33,630,719.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 48,665 shares of company stock valued at $4,986,299 over the last quarter. 3.07% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wolff Wiese Magana LLC bought a new stake in Cabot during the third quarter valued at about $25,000. CWM LLC boosted its holdings 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 buying an additional 157 shares in the last quarter. UMB Bank n.a. grew its position in shares of Cabot by 53.9% in the 3rd quarter. UMB Bank n.a. now owns 371 shares of the specialty chemicals company’s stock worth $41,000 after buying an additional 130 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of Cabot by 197.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 417 shares of the specialty chemicals company’s stock worth $47,000 after acquiring an additional 277 shares in 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 acquiring an additional 119 shares during the last quarter. 93.18% of the stock is currently owned by hedge funds and other institutional investors.

Cabot Trading Up 7.5 %

The company’s 50 day simple moving average is $108.41 and its two-hundred day simple moving average is $101.13. The company has a quick ratio of 1.45, a current ratio of 2.22 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $6.42 billion, a price-to-earnings ratio of 17.36, a P/E/G ratio of 0.91 and a beta of 1.20.

Cabot (NYSE:CBT) last posted its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $1.80 earnings per share for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.01). Cabot had a return on equity of 26.99% and a net margin of 12.05%. The business had revenue of $1 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the business earned $1.65 EPS. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, research analysts anticipate that Cabot Co. will post 7.07 earnings per share for the current fiscal year.

Cabot Company Profile

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.