Cabot Co. (NYSE:CBT - Get Free Report) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $113.36 and last traded at $113.18, with a volume of 42911 shares traded. The stock had previously closed at $112.41.
Several research firms recently issued reports on CBT. UBS Group dropped their target price on Cabot from $103.00 to $98.00 and set a "neutral" rating on the stock in a report on Tuesday, August 6th. 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. Finally, StockNews.com downgraded Cabot from a "strong-buy" rating to a "buy" rating in a research report on Monday, June 24th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $101.75.
Check Out Our Latest Report on CBT
The firm has a 50-day moving average price of $104.12 and a 200 day moving average price of $98.99. 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 company has a market cap of $6.29 billion, a price-to-earnings ratio of 14.23, a P/E/G ratio of 0.93 and a beta of 1.19.
Cabot (NYSE:CBT - Get Free Report) last posted its earnings results on Monday, August 5th. The specialty chemicals company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.72 by $0.20. Cabot had a return on equity of 26.99% and a net margin of 12.05%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the prior year, the business earned $1.42 earnings per share. The firm's revenue for the quarter was up 5.0% on a year-over-year basis. Sell-side analysts predict that Cabot Co. will post 7.07 EPS for the current year.
In related news, EVP Jeff Ji Zhu sold 1,201 shares of the business's stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $106.19, for a total value of $127,534.19. Following the completion of the sale, the executive vice president now directly owns 96,000 shares in the company, valued at approximately $10,194,240. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Cabot news, CFO Erica Mclaughlin sold 23,274 shares of the company's stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $99.79, for a total transaction of $2,322,512.46. Following the completion of the sale, the chief financial officer now directly owns 59,814 shares in the company, valued at $5,968,839.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeff Ji Zhu sold 1,201 shares of the company's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $106.19, for a total value of $127,534.19. Following the sale, the executive vice president now owns 96,000 shares of the company's stock, valued at $10,194,240. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,939 shares of company stock valued at $7,308,812. 3.07% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CBT. Virtu Financial LLC bought a new stake in Cabot during the fourth quarter worth $258,000. Quadrature Capital Ltd lifted its stake in Cabot by 267.3% during the fourth quarter. Quadrature Capital Ltd now owns 11,380 shares of the specialty chemicals company's stock worth $950,000 after purchasing an additional 8,282 shares during the last quarter. Kapitalo Investimentos Ltda bought a new stake in Cabot during the fourth quarter worth $557,000. Los Angeles Capital Management LLC lifted its stake in shares of Cabot by 1.4% in the 1st quarter. Los Angeles Capital Management LLC now owns 10,851 shares of the specialty chemicals company's stock valued at $1,000,000 after acquiring an additional 145 shares during the last quarter. Finally, Banque Cantonale Vaudoise lifted its stake in shares of Cabot by 17.5% in the 1st quarter. Banque Cantonale Vaudoise now owns 833 shares of the specialty chemicals company's stock valued at $77,000 after acquiring an additional 124 shares during the last quarter. 93.18% of the stock is currently owned by institutional investors.
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.
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