Cabot (NYSE:CBT) Issues Earnings Results

Cabot (NYSE:CBT) issued its earnings results on Tuesday. The specialty chemicals company reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.13, FiscalAI reports. Cabot had a net margin of 8.91% and a return on equity of 24.55%. The company had revenue of $849.00 million for the quarter, compared to analysts’ expectations of $889.11 million.

Cabot Price Performance

Cabot stock traded down $1.72 during mid-day trading on Tuesday, reaching $71.14. The company had a trading volume of 718,037 shares, compared to its average volume of 470,493. The business has a fifty day simple moving average of $68.35 and a 200 day simple moving average of $71.64. The company has a market cap of $3.76 billion, a P/E ratio of 11.84, a P/E/G ratio of 3.78 and a beta of 0.89. Cabot has a fifty-two week low of $58.33 and a fifty-two week high of $89.16. The company has a current ratio of 1.61, a quick ratio of 1.08 and a debt-to-equity ratio of 0.50.

Cabot Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.80 annualized dividend and a dividend yield of 2.5%. Cabot’s payout ratio is 29.95%.

Hedge Funds Weigh In On Cabot

Several large investors have recently bought and sold shares of CBT. Geneos Wealth Management Inc. grew its holdings in shares of Cabot by 409.0% during the first quarter. Geneos Wealth Management Inc. now owns 453 shares of the specialty chemicals company’s stock worth $38,000 after purchasing an additional 364 shares during the last quarter. Danske Bank A S bought a new position in shares of Cabot during the third quarter valued at $38,000. Caitong International Asset Management Co. Ltd grew its stake in shares of Cabot by 709.1% in the third quarter. Caitong International Asset Management Co. Ltd now owns 534 shares of the specialty chemicals company’s stock worth $41,000 after purchasing an additional 468 shares during the last quarter. Advisory Services Network LLC acquired a new stake in Cabot in the third quarter valued at $57,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Cabot by 344.3% in the second quarter. EverSource Wealth Advisors LLC now owns 813 shares of the specialty chemicals company’s stock valued at $61,000 after buying an additional 630 shares during the period. 93.18% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on CBT. Zacks Research raised Cabot from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 27th. Mizuho upped their price target on shares of Cabot from $72.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, December 18th. Weiss Ratings reissued a “hold (c-)” rating on shares of Cabot in a report on Monday, December 29th. UBS Group upped their price objective on Cabot from $65.00 to $74.00 and gave the company a “neutral” rating in a report on Monday, January 12th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $81.00 price objective on shares of Cabot in a research report on Thursday, January 8th. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $72.25.

Cabot Company Profile

Cabot Corporation is a global specialty chemicals and performance materials company headquartered in Boston, Massachusetts. Founded in 1882 by Godfrey Lowell Cabot, the company has grown into a diversified manufacturer with operations across North America, Europe, Asia and Latin America. Cabot serves a wide range of end markets, including automotive, industrial, energy, and consumer products, supplying essential ingredients that enhance performance, durability and functionality.

The company operates two primary segments: Reinforcement Materials and Performance Materials.