Cabot Corp. (CBT) Sets New 1-Year High at $52.53
Cabot Corp. (NYSE:CBT) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $52.53 and last traded at $51.96, with a volume of 673,988 shares traded. The stock had previously closed at $48.47.
Several research firms have recently issued reports on CBT. Zacks Investment Research downgraded shares of Cabot Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, April 19th. TheStreet cut shares of Cabot Corp. from a “buy” rating to a “hold” rating in a research note on Friday, June 10th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $51.00.
The company’s 50-day moving average price is $47.05 and its 200-day moving average price is $45.48. The stock’s market cap is $3.22 billion.
Cabot Corp. (NYSE:CBT) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates of $0.93. The firm earned $621 million during the quarter, compared to analyst estimates of $611.73 million. The business’s revenue was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 EPS. Equities research analysts predict that Cabot Corp. will post $3.12 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 9th. Shareholders of record on Friday, August 26th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date is Wednesday, August 24th.
In other Cabot Corp. news, VP James Patrick Kelly sold 2,500 shares of the stock in a transaction on Tuesday, July 12th. The shares were sold at an average price of $48.95, for a total value of $122,375.00. Following the completion of the sale, the vice president now owns 27,085 shares in the company, valued at $1,325,810.75. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Patrick M. Prevost sold 60,000 shares of the stock in a transaction on Friday, June 3rd. The shares were sold at an average price of $46.30, for a total transaction of $2,778,000.00. Following the completion of the sale, the director now owns 321,458 shares of the company’s stock, valued at approximately $14,883,505.40. The disclosure for this sale can be found here.
Other hedge funds recently bought and sold shares of the company. Rhumbline Advisers boosted its stake in Cabot Corp. by 0.4% in the fourth quarter. Rhumbline Advisers now owns 94,389 shares of the company’s stock worth $3,859,000 after buying an additional 372 shares in the last quarter. California Public Employees Retirement System boosted its stake in Cabot Corp. by 21.7% in the fourth quarter. California Public Employees Retirement System now owns 206,900 shares of the company’s stock worth $8,458,000 after buying an additional 36,900 shares in the last quarter. New York State Common Retirement Fund boosted its stake in Cabot Corp. by 9.2% in the fourth quarter. New York State Common Retirement Fund now owns 336,800 shares of the company’s stock worth $13,768,000 after buying an additional 28,510 shares in the last quarter. Boston Partners boosted its stake in Cabot Corp. by 5.4% in the fourth quarter. Boston Partners now owns 385,225 shares of the company’s stock worth $15,748,000 after buying an additional 19,565 shares in the last quarter. Finally, Liberty Mutual Group Asset Management Inc. boosted its stake in Cabot Corp. by 51.3% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 40,555 shares of the company’s stock worth $1,657,000 after buying an additional 13,755 shares in the last quarter.
Cabot Corporation (Cabot) is a global specialty chemicals and performance materials company. The Company’s principal products are rubber and specialty grade carbon blacks, fumed metal oxides, activated carbon, inkjet colorants, aerogel and cesium formate drilling fluids. The Company operates through four segments: Reinforcement Materials, Performance Chemicals, Purification Solutions and Specialty Fluids.
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