Cabot (NYSE:CBT) Reaches New 12-Month High on Analyst Upgrade

Cabot Co. (NYSE:CBT)’s share price hit 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. The stock had previously closed at $108.86.

CBT has been the topic of several other research reports. UBS Group decreased their price objective on Cabot from $103.00 to $98.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th. JPMorgan Chase & Co. increased their target price on shares of Cabot from $95.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $105.00.

Insider Activity

In other Cabot news, CEO Sean D. Keohane sold 25,617 shares of the company’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 value of $2,601,406.35. Following the completion of the transaction, the chief executive officer now directly owns 331,174 shares in the company, valued at $33,630,719.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Cabot news, CEO Sean D. Keohane sold 25,617 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now owns 331,174 shares in the company, 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 Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $548,865.06. Following the transaction, the executive vice president now owns 61,688 shares of the company’s stock, valued at approximately $6,204,579.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,665 shares of company stock worth $4,986,299 over the last ninety days. Corporate insiders own 3.07% of the company’s stock.

Institutional Trading of Cabot

Several hedge funds have recently modified their holdings of CBT. Wealth Enhancement Advisory Services LLC raised its stake in Cabot by 12.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,924 shares of the specialty chemicals company’s stock valued at $546,000 after purchasing an additional 656 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Cabot by 28.8% during the 1st quarter. BNP Paribas Financial Markets now owns 51,271 shares of the specialty chemicals company’s stock valued at $4,727,000 after buying an additional 11,471 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Cabot by 125.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 10,911 shares of the specialty chemicals company’s stock valued at $1,006,000 after acquiring an additional 6,070 shares during the last quarter. Texas Permanent School Fund Corp grew its position in Cabot by 4.1% in the first quarter. Texas Permanent School Fund Corp now owns 48,513 shares of the specialty chemicals company’s stock worth $4,473,000 after acquiring an additional 1,923 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its stake in Cabot by 57.3% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 7,557 shares of the specialty chemicals company’s stock worth $697,000 after acquiring an additional 2,754 shares during the last quarter. 93.18% of the stock is owned by hedge funds and other institutional investors.

Cabot Stock Performance

The firm has a market capitalization of $6.42 billion, a PE ratio of 17.36, a P/E/G ratio of 0.91 and a beta of 1.20. The business has a 50-day simple moving average of $108.41 and a 200-day simple moving average of $101.13. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.22 and a quick ratio of 1.45.

Cabot (NYSE:CBT) last released its quarterly earnings results on Monday, November 4th. The specialty chemicals company reported $1.80 earnings per share for the quarter, missing the consensus estimate of $1.81 by ($0.01). The company had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Cabot had a net margin of 12.05% and a return on equity of 26.99%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.65 EPS. Equities research analysts expect 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.