Cabot (NYSE:CBT) Upgraded at StockNews.com

StockNews.com upgraded shares of Cabot (NYSE:CBT) from a hold rating to a buy rating in a research note released on Tuesday morning.

CBT has been the topic of several other reports. JPMorgan Chase & Co. downgraded Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 target price on the stock. in a research note on Monday, November 11th. Mizuho dropped their price target on Cabot from $122.00 to $110.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Cabot currently has a consensus rating of “Hold” and an average price target of $102.00.

Cabot Trading Down 3.0 %

Shares of NYSE CBT opened at $85.68 on Tuesday. The business has a fifty day moving average price of $89.85 and a 200 day moving average price of $101.05. Cabot has a 1-year low of $80.70 and a 1-year high of $117.46. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.00 and a quick ratio of 1.29. The stock has a market capitalization of $4.65 billion, a P/E ratio of 11.38, a price-to-earnings-growth ratio of 0.77 and a beta of 1.19.

Cabot (NYSE:CBT) last released its quarterly earnings results on Monday, February 3rd. The specialty chemicals company reported $1.76 EPS for the quarter, beating the consensus estimate of $1.74 by $0.02. Cabot had a net margin of 10.60% and a return on equity of 26.79%. Equities research analysts expect that Cabot will post 7.57 EPS for the current fiscal year.

Cabot declared that its Board of Directors has initiated a share buyback plan on Tuesday, December 3rd that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the specialty chemicals company to purchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Cabot Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, February 28th. Cabot’s dividend payout ratio is presently 22.84%.

Institutional Trading of Cabot

Several institutional investors have recently modified their holdings of CBT. R Squared Ltd acquired a new stake in shares of Cabot in the 4th quarter worth $26,000. Farther Finance Advisors LLC increased its position in Cabot by 197.9% during the third quarter. Farther Finance Advisors LLC now owns 417 shares of the specialty chemicals company’s stock worth $47,000 after purchasing an additional 277 shares during the last quarter. CWM LLC increased its position in Cabot by 35.6% during the third quarter. CWM LLC now owns 564 shares of the specialty chemicals company’s stock worth $63,000 after purchasing an additional 148 shares during the last quarter. First Horizon Advisors Inc. raised its stake in Cabot by 22.0% during the third quarter. First Horizon Advisors Inc. now owns 650 shares of the specialty chemicals company’s stock worth $73,000 after purchasing an additional 117 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in Cabot by 37.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 808 shares of the specialty chemicals company’s stock valued at $74,000 after purchasing an additional 219 shares during the last quarter. Institutional investors and hedge funds own 93.18% of the company’s stock.

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.