Cabot Co. (NYSE:CBT) has been assigned a consensus recommendation of “Buy” from the nine brokerages that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $76.88.
A number of research firms have weighed in on CBT. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Cabot from $58.00 to $62.00 and gave the company a “hold” rating in a research note on Tuesday, November 16th. TheStreet upgraded shares of Cabot from a “c” rating to a “b-” rating in a research note on Monday, November 8th. Jefferies Financial Group started coverage on shares of Cabot in a research report on Tuesday, September 14th. They issued a “buy” rating and a $75.00 price target on the stock. Finally, Zacks Investment Research lowered shares of Cabot from a “buy” rating to a “hold” rating and set a $52.00 price target on the stock. in a research report on Wednesday, September 15th.
A number of hedge funds have recently modified their holdings of the business. Deprince Race & Zollo Inc. lifted its stake in Cabot by 3.9% during the third quarter. Deprince Race & Zollo Inc. now owns 1,198,134 shares of the specialty chemicals company’s stock worth $60,050,000 after purchasing an additional 44,983 shares during the last quarter. BNP Paribas Arbitrage SA lifted its stake in Cabot by 31.3% during the third quarter. BNP Paribas Arbitrage SA now owns 13,659 shares of the specialty chemicals company’s stock worth $685,000 after purchasing an additional 3,254 shares during the last quarter. Janus Henderson Group PLC bought a new stake in Cabot during the third quarter worth about $286,000. Jane Street Group LLC bought a new stake in Cabot during the third quarter worth about $411,000. Finally, Squarepoint Ops LLC lifted its stake in Cabot by 235.4% during the third quarter. Squarepoint Ops LLC now owns 68,427 shares of the specialty chemicals company’s stock worth $3,430,000 after purchasing an additional 48,025 shares during the last quarter. 90.33% of the stock is owned by hedge funds and other institutional investors.
Cabot (NYSE:CBT) last released its quarterly earnings results on Sunday, November 7th. The specialty chemicals company reported $1.11 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.08. Cabot had a net margin of 7.33% and a return on equity of 28.15%. The business had revenue of $904.00 million for the quarter, compared to analysts’ expectations of $914.88 million. During the same period in the previous year, the company earned $0.68 earnings per share. The firm’s revenue for the quarter was up 37.2% compared to the same quarter last year. On average, sell-side analysts predict that Cabot will post 5.43 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 10th. Stockholders of record on Friday, November 26th will be given a dividend of $0.37 per share. The ex-dividend date is Wednesday, November 24th. This represents a $1.48 annualized dividend and a dividend yield of 2.54%. This is a boost from Cabot’s previous quarterly dividend of $0.35. Cabot’s dividend payout ratio (DPR) is 32.26%.
Cabot Corp. is a global specialty chemicals and performance materials company. Its products are rubber and specialty grade carbon blacks, specialty compounds, fumed metal oxides, activated carbons, inkjet colorants, and aerogel. The company operates through the following segments: Reinforcement Materials, Performance Chemicals, and Purification Solutions.
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