Mizuho Cuts Cabot (NYSE:CBT) Price Target to $110.00

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

Separately, JPMorgan Chase & Co. downgraded Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 target price on the stock. in a report on Monday, November 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $102.00.

Cabot Stock Performance

Shares of CBT stock opened at $87.59 on Tuesday. The company has a current ratio of 2.08, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68. The company’s fifty day moving average price is $102.83 and its 200-day moving average price is $102.39. The stock has a market cap of $4.76 billion, a PE ratio of 13.00, a price-to-earnings-growth ratio of 0.90 and a beta of 1.21. Cabot has a 12 month low of $70.63 and a 12 month high of $117.46.

Cabot (NYSE:CBT) last announced its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $1.80 earnings per share for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.01). Cabot had a return on equity of 26.60% and a net margin of 9.51%. The business had revenue of $1 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter last year, the company posted $1.65 EPS. Cabot’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, equities analysts expect that Cabot will post 7.67 EPS for the current fiscal year.

Cabot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a $0.43 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.72 dividend on an annualized basis and a yield of 1.96%. Cabot’s payout ratio is currently 25.52%.

Cabot announced that its board has approved a stock repurchase program on Tuesday, December 3rd that allows the company to repurchase 10,000,000 shares. This repurchase authorization allows the specialty chemicals company to purchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Cabot

In other Cabot news, CAO Lisa M. Dumont sold 865 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $111.74, for a total transaction of $96,655.10. Following the completion of the sale, the chief accounting officer now directly owns 9,742 shares in the company, valued at approximately $1,088,571.08. The trade was a 8.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Hobart Kalkstein sold 34,759 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $115.23, for a total value of $4,005,279.57. Following the completion of the transaction, the executive vice president now owns 50,627 shares in the company, valued at approximately $5,833,749.21. This trade represents a 40.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,190 shares of company stock worth $5,751,534. Company insiders own 3.07% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CBT. Earnest Partners LLC increased its position in shares of Cabot by 2.4% during the 2nd quarter. Earnest Partners LLC now owns 3,363,398 shares of the specialty chemicals company’s stock valued at $309,063,000 after purchasing an additional 80,096 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Cabot by 0.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,348,972 shares of the specialty chemicals company’s stock valued at $123,965,000 after buying an additional 4,437 shares during the last quarter. Geode Capital Management LLC increased its holdings in Cabot by 1.8% during the third quarter. Geode Capital Management LLC now owns 1,283,686 shares of the specialty chemicals company’s stock valued at $143,504,000 after buying an additional 22,719 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Cabot by 7.3% during the 2nd quarter. American Century Companies Inc. now owns 976,709 shares of the specialty chemicals company’s stock worth $89,750,000 after acquiring an additional 66,171 shares during the last quarter. Finally, Sei Investments Co. grew its position in shares of Cabot by 5.9% during the 2nd quarter. Sei Investments Co. now owns 913,259 shares of the specialty chemicals company’s stock valued at $83,919,000 after acquiring an additional 51,178 shares during the period. Institutional investors 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.