Cabot (NYSE:CBT) Given New $110.00 Price Target at Mizuho

Cabot (NYSE:CBT) had its target price trimmed by Mizuho from $122.00 to $110.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The firm currently has an outperform rating on the specialty chemicals company’s stock.

Separately, JPMorgan Chase & Co. lowered Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 price target for the company. in a research note on Monday, November 11th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $102.00.

Cabot Trading Up 0.0 %

Shares of NYSE CBT opened at $88.74 on Tuesday. Cabot has a 1-year low of $70.63 and a 1-year high of $117.46. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.08 and a quick ratio of 1.36. The business’s 50 day moving average is $103.69 and its two-hundred day moving average is $102.60. The stock has a market capitalization of $4.83 billion, a P/E ratio of 13.17, a PEG ratio of 0.90 and a beta of 1.21.

Cabot (NYSE:CBT) last released its earnings results on Monday, November 4th. The specialty chemicals company reported $1.80 earnings per share for the quarter, missing the consensus estimate of $1.81 by ($0.01). The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $1.01 billion. Cabot had a net margin of 9.51% and a return on equity of 26.60%. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.65 EPS. As a group, research analysts expect that Cabot will post 7.67 EPS for the current year.

Cabot Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend was Friday, November 29th. Cabot’s payout ratio is 25.52%.

Cabot declared that its board has initiated a stock repurchase plan on Tuesday, December 3rd that authorizes the company to repurchase 10,000,000 outstanding shares. This repurchase authorization authorizes the specialty chemicals company to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, CAO Lisa M. Dumont sold 865 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $111.74, for a total transaction of $96,655.10. Following the transaction, the chief accounting officer now owns 9,742 shares in the company, valued at $1,088,571.08. This represents a 8.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Hobart Kalkstein sold 34,759 shares of Cabot stock in a transaction on Monday, November 11th. The stock was sold at an average price of $115.23, for a total transaction of $4,005,279.57. Following the sale, the executive vice president now owns 50,627 shares of the company’s stock, valued at $5,833,749.21. The trade was a 40.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,190 shares of company stock worth $5,751,534. 3.07% of the stock is owned by corporate insiders.

Institutional Trading of Cabot

Hedge funds and other institutional investors have recently made changes to their positions in the business. Eastern Bank boosted its holdings in Cabot by 577.1% in the third quarter. Eastern Bank now owns 269,270 shares of the specialty chemicals company’s stock valued at $30,096,000 after purchasing an additional 229,500 shares during the last quarter. Fiera Capital Corp acquired a new position in shares of Cabot in the 3rd quarter valued at about $19,643,000. Copeland Capital Management LLC boosted its stake in shares of Cabot by 30.4% in the third quarter. Copeland Capital Management LLC now owns 626,253 shares of the specialty chemicals company’s stock worth $69,996,000 after buying an additional 146,179 shares during the last quarter. Earnest Partners LLC grew its holdings in Cabot by 2.4% during the second quarter. Earnest Partners LLC now owns 3,363,398 shares of the specialty chemicals company’s stock worth $309,063,000 after acquiring an additional 80,096 shares during the period. Finally, American Century Companies Inc. raised its position in Cabot by 7.3% during the second quarter. American Century Companies Inc. now owns 976,709 shares of the specialty chemicals company’s stock valued at $89,750,000 after acquiring an additional 66,171 shares in 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.