Cabot (NYSE:CBT) Sets New 12-Month High After Analyst Upgrade

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

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

Insider Activity at Cabot

In other news, CEO Sean D. Keohane sold 25,617 shares of Cabot stock in a transaction that occurred 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 transaction, the chief executive officer now owns 331,174 shares of the company’s stock, valued at $33,630,719.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Cabot news, CFO Erica Mclaughlin sold 16,390 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $104.24, for a total value of $1,708,493.60. Following the sale, the chief financial officer now owns 59,814 shares of the company’s stock, valued at $6,235,011.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sean D. Keohane sold 25,617 shares of the firm’s stock in a transaction dated 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 48,665 shares of company stock valued at $4,986,299. Corporate insiders own 3.07% of the company’s stock.

Institutional Investors Weigh In On Cabot

Several institutional investors and hedge funds have recently made changes to their positions in CBT. BNP Paribas Financial Markets increased its holdings in shares of Cabot by 28.8% in the first quarter. BNP Paribas Financial Markets now owns 51,271 shares of the specialty chemicals company’s stock valued at $4,727,000 after purchasing an additional 11,471 shares in the last quarter. Janney Montgomery Scott LLC increased its stake 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 buying an additional 6,070 shares during the period. Sei Investments Co. raised its position in shares of Cabot by 6.1% during the first quarter. Sei Investments Co. now owns 862,081 shares of the specialty chemicals company’s stock worth $79,484,000 after acquiring an additional 49,467 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Cabot by 571.9% during the second quarter. Assenagon Asset Management S.A. now owns 127,116 shares of the specialty chemicals company’s stock valued at $11,681,000 after acquiring an additional 108,197 shares during the period. Finally, Tidal Investments LLC boosted its holdings in Cabot by 101.7% in the first quarter. Tidal Investments LLC now owns 18,107 shares of the specialty chemicals company’s stock valued at $1,669,000 after acquiring an additional 9,131 shares during the last quarter. Institutional investors and hedge funds own 93.18% of the company’s stock.

Cabot Stock Performance

The stock has a market capitalization of $6.30 billion, a price-to-earnings ratio of 12.95, a price-to-earnings-growth ratio of 0.91 and a beta of 1.20. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.22 and a quick ratio of 1.45. The stock has a 50-day moving average of $108.41 and a 200 day moving average of $101.13.

Cabot (NYSE:CBT) last announced 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 business had revenue of $1 billion during the quarter, compared to the consensus estimate of $1.01 billion. Cabot had a net margin of 12.05% and a return on equity of 26.99%. Cabot’s revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.65 earnings per share. On average, analysts expect that Cabot Co. will post 7.07 EPS for the current 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.