Loop Capital downgraded shares of Cabot (NYSE:CBT) from a buy rating to a hold rating in a report published on Monday, BenzingaRatingsTable reports. They currently have $41.00 price target on the specialty chemicals company’s stock, down from their previous price target of $69.00.
Other research analysts have also recently issued research reports about the stock. ValuEngine upgraded shares of Cabot from a strong sell rating to a sell rating in a report on Thursday, April 18th. Zacks Investment Research cut shares of Cabot from a hold rating to a sell rating in a report on Monday, May 6th. Finally, TheStreet upgraded shares of Cabot from a c+ rating to a b- rating in a report on Friday, July 5th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. Cabot currently has an average rating of Hold and a consensus price target of $64.00.
NYSE CBT opened at $38.80 on Monday. The company has a quick ratio of 0.86, a current ratio of 1.34 and a debt-to-equity ratio of 0.55. Cabot has a 52 week low of $37.11 and a 52 week high of $67.02. The firm has a market cap of $2.31 billion, a PE ratio of 10.24, a PEG ratio of 0.96 and a beta of 1.48. The business’s 50 day moving average price is $45.32.
Cabot (NYSE:CBT) last posted its quarterly earnings results on Monday, August 5th. The specialty chemicals company reported $1.00 EPS for the quarter, hitting the consensus estimate of $1.00. Cabot had a net margin of 6.49% and a return on equity of 18.47%. The company had revenue of $845.00 million during the quarter, compared to analysts’ expectations of $858.86 million. During the same quarter in the previous year, the business posted $1.06 EPS. The firm’s revenue was down 1.1% on a year-over-year basis. Sell-side analysts predict that Cabot will post 4.03 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.61%. The ex-dividend date is Thursday, August 29th. Cabot’s payout ratio is 34.74%.
Institutional investors have recently modified their holdings of the company. Deutsche Bank AG boosted its holdings in shares of Cabot by 108.0% in the 4th quarter. Deutsche Bank AG now owns 360,629 shares of the specialty chemicals company’s stock valued at $15,484,000 after buying an additional 187,222 shares in the last quarter. Nordea Investment Management AB acquired a new position in shares of Cabot in the 1st quarter valued at $3,814,000. Machina Capital S.A.S. boosted its holdings in shares of Cabot by 409.2% in the 2nd quarter. Machina Capital S.A.S. now owns 998 shares of the specialty chemicals company’s stock valued at $48,000 after buying an additional 802 shares in the last quarter. California Public Employees Retirement System boosted its holdings in shares of Cabot by 23.7% in the 1st quarter. California Public Employees Retirement System now owns 130,292 shares of the specialty chemicals company’s stock valued at $5,424,000 after buying an additional 24,941 shares in the last quarter. Finally, Deprince Race & Zollo Inc. boosted its holdings in shares of Cabot by 78.6% in the 1st quarter. Deprince Race & Zollo Inc. now owns 714,511 shares of the specialty chemicals company’s stock valued at $29,745,000 after buying an additional 314,523 shares in the last quarter. Institutional investors and hedge funds own 86.41% of the company’s stock.
Cabot Corporation operates as a specialty chemicals and performance materials company. The company offers rubber grade carbon blacks 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 compounds of carbon black and rubber.
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