Cabot (NYSE:CBT) Hits New 52-Week High Following Analyst Upgrade

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

CBT has been the topic of a number of other research reports. JPMorgan Chase & Co. boosted their price target 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 cut their price target on Cabot from $103.00 to $98.00 and set a “neutral” rating for the company in a report on Tuesday, August 6th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cabot has a consensus rating of “Hold” and a consensus price target of $105.00.

Insider Transactions at Cabot

In other news, CEO Sean D. Keohane sold 25,617 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 331,174 shares of the company’s stock, valued at approximately $33,630,719.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Sean D. Keohane sold 25,617 shares of the business’s 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 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 legal filing with the SEC, which is available at this hyperlink. Also, CFO Erica Mclaughlin sold 16,390 shares of the stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 59,814 shares of the company’s stock, valued at $6,235,011.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders 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 hedge funds and other institutional investors have recently bought and sold shares of CBT. Wealth Enhancement Advisory Services LLC grew its position in Cabot by 12.5% in the 1st 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 during the period. BNP Paribas Financial Markets lifted its stake in 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 acquiring an additional 11,471 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in Cabot by 125.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 10,911 shares of the specialty chemicals company’s stock worth $1,006,000 after acquiring an additional 6,070 shares during the last quarter. Texas Permanent School Fund Corp lifted its position in shares of Cabot by 4.1% during the first quarter. Texas Permanent School Fund Corp now owns 48,513 shares of the specialty chemicals company’s stock valued at $4,473,000 after purchasing an additional 1,923 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its position in shares of Cabot by 57.3% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 7,557 shares of the specialty chemicals company’s stock worth $697,000 after buying an additional 2,754 shares in the last quarter. 93.18% of the stock is owned by institutional investors.

Cabot Price Performance

The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.45 and a current ratio of 2.22. The stock has a market cap of $6.30 billion, a PE ratio of 12.95, a P/E/G ratio of 0.91 and a beta of 1.20. The business has a 50 day moving average price of $108.41 and a two-hundred day moving average price of $101.13.

Cabot (NYSE:CBT) last posted 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). Cabot had a net margin of 12.05% and a return on equity of 26.99%. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the company posted $1.65 EPS. Cabot’s quarterly revenue was up 3.7% compared to the same quarter last year. 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.