ValuEngine upgraded shares of Cabot (NYSE:CBT) from a hold rating to a buy rating in a research report sent to investors on Sunday morning.
CBT has been the subject of several other research reports. Loop Capital initiated coverage on shares of Cabot in a research note on Thursday, September 28th. They issued a hold rating and a $59.00 price objective for the company. Zacks Investment Research lowered shares of Cabot from a buy rating to a hold rating in a research note on Tuesday, November 7th. SunTrust Banks raised shares of Cabot from a hold rating to a buy rating in a research report on Tuesday, December 19th. Jefferies Group reissued a buy rating and set a $74.00 target price on shares of Cabot in a research report on Friday, November 3rd. Finally, KeyCorp reissued a hold rating on shares of Cabot in a research report on Wednesday, November 1st. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $61.14.
Cabot (NYSE:CBT) traded up $0.95 during mid-day trading on Friday, hitting $62.54. 239,400 shares of the company traded hands, compared to its average volume of 228,600. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.17 and a current ratio of 1.70. Cabot has a 1-year low of $50.21 and a 1-year high of $64.66. The firm has a market cap of $3,815.48, a price-to-earnings ratio of 16.41, a PEG ratio of 1.63 and a beta of 1.11.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Stockholders of record on Friday, November 24th were issued a dividend of $0.315 per share. The ex-dividend date was Wednesday, November 22nd. This represents a $1.26 annualized dividend and a dividend yield of 2.01%. Cabot’s payout ratio is 33.07%.
Several large investors have recently bought and sold shares of CBT. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Cabot by 9.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,469 shares of the specialty chemicals company’s stock valued at $132,000 after acquiring an additional 209 shares during the period. Old Mutual Global Investors UK Ltd. bought a new stake in Cabot in the second quarter valued at about $155,000. Parametrica Management Ltd bought a new stake in Cabot in the third quarter valued at about $217,000. Virginia Retirement Systems ET AL bought a new stake in Cabot in the third quarter valued at about $218,000. Finally, Quantbot Technologies LP increased its stake in Cabot by 244.4% in the second quarter. Quantbot Technologies LP now owns 4,643 shares of the specialty chemicals company’s stock valued at $248,000 after acquiring an additional 3,295 shares during the period. Institutional investors own 84.83% of the company’s stock.
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Cabot 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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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