Cabot Corp (CBT) Given Consensus Rating of “Buy” by Brokerages

Cabot Corp (NYSE:CBT) has been given an average recommendation of “Buy” by the eleven research firms that are currently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $69.80.

Several analysts have issued reports on CBT shares. Loop Capital started coverage on Cabot in a research note on Thursday, September 28th. They issued a “hold” rating and a $59.00 price objective on the stock. KeyCorp restated a “hold” rating on shares of Cabot in a research note on Wednesday, November 1st. Jefferies Group restated a “buy” rating and issued a $74.00 price objective on shares of Cabot in a research note on Friday, November 3rd. Zacks Investment Research lowered Cabot from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Finally, SunTrust Banks upgraded Cabot from a “hold” rating to a “buy” rating in a research note on Tuesday, December 19th.

Shares of Cabot (CBT) traded down $0.28 during midday trading on Friday, reaching $66.51. The company had a trading volume of 259,100 shares, compared to its average volume of 440,292. Cabot has a 1 year low of $50.21 and a 1 year high of $68.08. The company has a quick ratio of 1.17, a current ratio of 1.70 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $4,137.62, a PE ratio of 17.46, a PEG ratio of 1.76 and a beta of 1.11.

Cabot (NYSE:CBT) last issued its quarterly earnings results on Tuesday, October 31st. The specialty chemicals company reported $0.91 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.02). Cabot had a net margin of 8.87% and a return on equity of 15.11%. The company had revenue of $723.00 million for the quarter, compared to analyst estimates of $683.30 million. During the same period last year, the company posted $1.00 earnings per share. The business’s revenue for the quarter was up 16.8% on a year-over-year basis. sell-side analysts forecast that Cabot will post 3.8 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Friday, February 23rd will be paid a dividend of $0.315 per share. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a $1.26 dividend on an annualized basis and a dividend yield of 1.89%. Cabot’s dividend payout ratio (DPR) is currently 33.07%.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. State of Alaska Department of Revenue bought a new position in shares of Cabot during the fourth quarter worth approximately $221,000. Acadian Asset Management LLC grew its position in Cabot by 352.6% during the fourth quarter. Acadian Asset Management LLC now owns 46,562 shares of the specialty chemicals company’s stock worth $2,869,000 after buying an additional 36,275 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in Cabot by 3.4% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 408,371 shares of the specialty chemicals company’s stock worth $25,144,000 after buying an additional 13,294 shares in the last quarter. Parametric Portfolio Associates LLC grew its position in Cabot by 1.3% during the third quarter. Parametric Portfolio Associates LLC now owns 386,033 shares of the specialty chemicals company’s stock worth $21,541,000 after buying an additional 4,808 shares in the last quarter. Finally, AXA grew its position in Cabot by 21.5% during the third quarter. AXA now owns 172,170 shares of the specialty chemicals company’s stock worth $9,607,000 after buying an additional 30,450 shares in the last quarter. Institutional investors own 84.82% of the company’s stock.

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About Cabot

Cabot Corporation is a global specialty chemicals and performance materials company. The Company operates through four business segments: reinforcement materials, performance chemicals, purification solutions and specialty fluids. Reinforcement materials’ rubber grade carbon blacks are used to enhance the physical properties of the systems and applications in which they are incorporated.

Analyst Recommendations for Cabot (NYSE:CBT)

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