Cabot Corp (NYSE:CBT) was the target of a significant drop in short interest during the month of June. As of June 30th, there was short interest totalling 978,600 shares, a drop of 13.4% from the May 30th total of 1,130,200 shares. Approximately 1.7% of the shares of the stock are sold short. Based on an average trading volume of 349,200 shares, the short-interest ratio is presently 2.8 days.
Several institutional investors have recently added to or reduced their stakes in the company. WINTON GROUP Ltd bought a new stake in shares of Cabot in the 2nd quarter worth approximately $699,000. Baystate Wealth Management LLC bought a new stake in shares of Cabot in the 2nd quarter worth approximately $125,000. Nordea Investment Management AB bought a new stake in shares of Cabot in the 1st quarter worth approximately $3,814,000. GYL Financial Synergies LLC bought a new stake in shares of Cabot in the 1st quarter worth approximately $384,000. Finally, First Pacific Advisors LP bought a new stake in shares of Cabot in the 1st quarter worth approximately $22,028,000. Institutional investors own 86.46% of the company’s stock.
Several equities analysts recently weighed in on CBT shares. TheStreet downgraded Primeenergy Resources from a “b-” rating to a “c” rating in a research report on Friday, July 5th. ValuEngine downgraded Acceleron Pharma from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 18th. Loop Capital reduced their target price on Cabot to $69.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. Finally, Zacks Investment Research downgraded GALP ENERGIA SG/ADR from a “hold” rating to a “sell” rating in a research report on Monday, May 6th. Two investment analysts have rated the stock with a sell rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $73.33.
NYSE CBT traded up $1.20 during trading hours on Friday, hitting $45.66. 283,796 shares of the company’s stock were exchanged, compared to its average volume of 300,117. The stock has a 50 day simple moving average of $44.97. Cabot has a 12-month low of $39.57 and a 12-month high of $67.80. The firm has a market capitalization of $2.67 billion, a price-to-earnings ratio of 11.33, a P/E/G ratio of 1.10 and a beta of 1.51. The company has a quick ratio of 0.86, a current ratio of 1.34 and a debt-to-equity ratio of 0.55.
Cabot (NYSE:CBT) last released its quarterly earnings data on Monday, May 6th. The specialty chemicals company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.02. The company had revenue of $844.00 million for the quarter, compared to the consensus estimate of $868.00 million. Cabot had a return on equity of 19.06% and a net margin of 8.13%. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period last year, the business posted $1.04 EPS. On average, research analysts anticipate that Cabot will post 4.13 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.07%. This is an increase from Cabot’s previous quarterly dividend of $0.33. The ex-dividend date was Thursday, May 30th. Cabot’s dividend payout ratio (DPR) is 34.74%.
Cabot Company Profile
Cabot Corporation operates as a specialty chemicals and performance materials company. The company offers rubber grade carbon blacks 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 compounds of carbon black and rubber.
Further Reading: Book Value Per Share – BVPS
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