Cabot Corp (NYSE:CBT) – Stock analysts at Jefferies Group dropped their Q3 2017 earnings per share (EPS) estimates for Cabot Corp in a research report issued on Friday. Jefferies Group analyst L. Alexander now anticipates that the brokerage will post earnings per share of $0.88 for the quarter, down from their prior estimate of $0.99. Jefferies Group has a “Buy” rating and a $68.00 price objective on the stock.
Cabot Corp (NYSE:CBT) last issued its quarterly earnings results on Wednesday, February 1st. The company reported $0.84 EPS for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.14. The business had revenue of $611 million for the quarter, compared to analyst estimates of $609.25 million. Cabot Corp had a return on equity of 16.25% and a net margin of 8.68%. Cabot Corp’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period last year, the company posted $0.51 earnings per share.
Other research analysts also recently issued research reports about the company. TheStreet upgraded Cabot Corp from a “c+” rating to a “b” rating in a report on Thursday, February 9th. Zacks Investment Research upgraded Cabot Corp from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a report on Wednesday, March 15th. Finally, Aegis began coverage on Cabot Corp in a report on Friday, January 13th. They set a “hold” rating and a $59.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Cabot Corp presently has a consensus rating of “Hold” and an average target price of $59.00.
Shares of Cabot Corp (NYSE:CBT) opened at 59.15 on Monday. The company has a market capitalization of $3.68 billion, a price-to-earnings ratio of 17.87 and a beta of 1.21. The company’s 50-day moving average price is $58.37 and its 200-day moving average price is $53.72. Cabot Corp has a one year low of $42.27 and a one year high of $60.72.
Several hedge funds have recently bought and sold shares of the company. Victory Capital Management Inc. increased its stake in Cabot Corp by 4.7% in the third quarter. Victory Capital Management Inc. now owns 730,021 shares of the company’s stock valued at $38,260,000 after buying an additional 33,000 shares during the last quarter. TradeLink Capital LLC increased its stake in Cabot Corp by 20.0% in the third quarter. TradeLink Capital LLC now owns 5,356 shares of the company’s stock valued at $281,000 after buying an additional 894 shares during the last quarter. Aperio Group LLC increased its stake in Cabot Corp by 2.0% in the third quarter. Aperio Group LLC now owns 25,717 shares of the company’s stock valued at $1,348,000 after buying an additional 509 shares during the last quarter. Quantitative Investment Management LLC bought a new stake in Cabot Corp during the third quarter valued at $492,000. Finally, Peregrine Capital Management LLC bought a new stake in Cabot Corp during the third quarter valued at $9,137,000. Institutional investors own 86.29% of the company’s stock.
In related news, EVP Nicholas S. Cross sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, February 6th. The stock was sold at an average price of $57.79, for a total value of $404,530.00. Following the sale, the executive vice president now owns 46,733 shares in the company, valued at approximately $2,700,700.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Patrick M. Prevost sold 48,902 shares of the company’s stock in a transaction that occurred on Tuesday, February 7th. The stock was sold at an average price of $57.23, for a total value of $2,798,661.46. Following the completion of the sale, the director now owns 302,122 shares in the company, valued at approximately $17,290,442.06. The disclosure for this sale can be found here. Insiders sold a total of 388,205 shares of company stock worth $22,482,654 in the last 90 days. 2.50% of the stock is currently owned by company insiders.
The business also recently declared a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Friday, February 24th were paid a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, February 22nd. This represents a $1.20 annualized dividend and a dividend yield of 2.03%. Cabot Corp’s payout ratio is currently 36.14%.
Cabot Corp Company Profile
Cabot Corporation is a global specialty chemicals and performance materials company. The Company operates through four business segments: reinforcement materials, performance chemicals, purification solutions and specialty fluids. Reinforcement materials’ rubber grade carbon blacks are used to enhance the physical properties of the systems and applications in which they are incorporated.