Cabot (NYSE:CBT) Hits New 52-Week High – Here’s Why

Shares of Cabot Co. (NYSE:CBT) hit a new 52-week high on Monday . The stock traded as high as $113.36 and last traded at $113.18, with a volume of 42911 shares trading hands. The stock had previously closed at $112.41.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. StockNews.com downgraded shares of Cabot from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 24th. JPMorgan Chase & Co. upped their price target on Cabot from $95.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Finally, UBS Group cut their price objective on Cabot from $103.00 to $98.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 6th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Cabot currently has an average rating of “Hold” and a consensus price target of $101.75.

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 $6.41 billion, a P/E ratio of 14.69, a price-to-earnings-growth ratio of 0.93 and a beta of 1.19. The firm has a 50-day moving average price of $104.90 and a 200-day moving average price of $99.29.

Cabot (NYSE:CBT) last announced its quarterly earnings data on Monday, August 5th. The specialty chemicals company reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.20. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1 billion. Cabot had a return on equity of 26.99% and a net margin of 12.05%. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.42 earnings per share. On average, analysts forecast that Cabot Co. will post 7.07 earnings per share for the current fiscal year.

Insider Transactions at Cabot

In related news, CFO Erica Mclaughlin sold 23,274 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were 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 owns 59,814 shares of the company’s stock, valued at $5,968,839.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Hobart Kalkstein sold 5,457 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $100.58, for a total transaction of $548,865.06. Following the completion of the sale, the executive vice president now owns 61,688 shares in the company, valued at approximately $6,204,579.04. 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. Also, CFO Erica Mclaughlin sold 23,274 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $99.79, for a total transaction of $2,322,512.46. Following the sale, the chief financial officer now directly owns 59,814 shares of the company’s stock, valued at approximately $5,968,839.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 71,939 shares of company stock worth $7,308,812. Corporate insiders own 3.07% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its stake in Cabot by 28.8% in the 1st quarter. BNP Paribas Financial Markets now owns 51,271 shares of the specialty chemicals company’s stock worth $4,727,000 after purchasing an additional 11,471 shares in the last quarter. Leeward Investments LLC MA boosted its stake in Cabot by 41.1% during the first quarter. Leeward Investments LLC MA now owns 163,617 shares of the specialty chemicals company’s stock valued at $15,085,000 after buying an additional 47,682 shares during the last quarter. Quadrature Capital Ltd grew its holdings in Cabot by 267.3% during the 4th quarter. Quadrature Capital Ltd now owns 11,380 shares of the specialty chemicals company’s stock valued at $950,000 after buying an additional 8,282 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in Cabot by 125.4% in 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. Finally, Sei Investments Co. boosted its position in shares of Cabot by 6.1% during the 1st quarter. Sei Investments Co. now owns 862,081 shares of the specialty chemicals company’s stock valued at $79,484,000 after acquiring an additional 49,467 shares during the last quarter. Institutional investors own 93.18% of the company’s stock.

About Cabot

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.