Beverly Hills Private Wealth LLC lifted its stake in shares of Cabot Co. (NYSE:CBT – Free Report) by 104.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,268 shares of the specialty chemicals company’s stock after acquiring an additional 6,254 shares during the period. Beverly Hills Private Wealth LLC’s holdings in Cabot were worth $850,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also modified their holdings of the company. Truist Financial Corp raised its holdings in shares of Cabot by 5.3% during the 1st quarter. Truist Financial Corp now owns 6,734 shares of the specialty chemicals company’s stock worth $516,000 after acquiring an additional 336 shares during the period. Shelton Capital Management acquired a new stake in shares of Cabot during the 1st quarter worth about $217,000. Fifth Third Bancorp increased its position in shares of Cabot by 6.6% during the 2nd quarter. Fifth Third Bancorp now owns 23,067 shares of the specialty chemicals company’s stock worth $1,543,000 after purchasing an additional 1,437 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Cabot by 14.7% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,169 shares of the specialty chemicals company’s stock worth $703,000 after purchasing an additional 1,172 shares during the last quarter. Finally, Wolverine Asset Management LLC acquired a new stake in shares of Cabot during the 1st quarter worth about $536,000. Hedge funds and other institutional investors own 91.05% of the company’s stock.
Analyst Ratings Changes
A number of brokerages recently issued reports on CBT. UBS Group cut their price objective on Cabot from $86.00 to $83.00 and set a “buy” rating for the company in a research report on Tuesday, November 7th. StockNews.com raised Cabot from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 10th. JPMorgan Chase & Co. lifted their target price on Cabot from $68.00 to $70.00 and gave the company a “neutral” rating in a research report on Friday, August 11th. Finally, Credit Suisse Group dropped their target price on Cabot from $85.00 to $82.00 and set an “outperform” rating for the company in a research report on Tuesday, August 8th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Cabot has a consensus rating of “Buy” and a consensus price target of $83.60.
Cabot Stock Performance
NYSE CBT opened at $78.35 on Wednesday. Cabot Co. has a 1-year low of $63.73 and a 1-year high of $83.74. The company has a market cap of $4.38 billion, a P/E ratio of 10.11, a P/E/G ratio of 2.29 and a beta of 1.23. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.98 and a quick ratio of 1.27. The stock has a 50-day moving average of $69.00 and a two-hundred day moving average of $69.54.
Cabot (NYSE:CBT – Get Free Report) last announced its quarterly earnings data on Monday, November 6th. The specialty chemicals company reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.18. Cabot had a return on equity of 24.65% and a net margin of 11.32%. The business had revenue of $965.00 million during the quarter, compared to the consensus estimate of $991.48 million. During the same period in the previous year, the company posted $1.55 earnings per share. The business’s revenue for the quarter was down 13.2% on a year-over-year basis. As a group, analysts anticipate that Cabot Co. will post 6.58 EPS for the current year.
Cabot Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 24th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date is Wednesday, November 22nd. Cabot’s dividend payout ratio is presently 20.65%.
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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