Cabot Corp (NYSE:CBT) – SunTrust Banks lifted their Q1 2018 EPS estimates for shares of Cabot in a report released on Tuesday. SunTrust Banks analyst J. Sheehan now forecasts that the specialty chemicals company will earn $0.75 per share for the quarter, up from their previous forecast of $0.74. SunTrust Banks currently has a “Buy” rating and a $73.00 price objective on the stock. SunTrust Banks also issued estimates for Cabot’s Q2 2018 earnings at $1.01 EPS, Q3 2018 earnings at $1.08 EPS, Q4 2018 earnings at $1.09 EPS, FY2018 earnings at $3.93 EPS and FY2019 earnings at $4.34 EPS.
Cabot (NYSE:CBT) last announced its quarterly earnings results on Tuesday, October 31st. The specialty chemicals company reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.02). Cabot had a net margin of 8.87% and a return on equity of 15.11%. The business had revenue of $723.00 million for the quarter, compared to analysts’ expectations of $683.30 million. During the same quarter in the prior year, the firm earned $1.00 EPS. The firm’s revenue for the quarter was up 16.8% on a year-over-year basis.
Shares of Cabot (NYSE:CBT) traded down $0.38 during trading hours on Wednesday, reaching $66.79. The company had a trading volume of 422,500 shares, compared to its average volume of 456,764. Cabot has a 52 week low of $50.21 and a 52 week high of $68.08. The stock has a market cap of $4,161.16, a P/E ratio of 17.53, a PEG ratio of 1.77 and a beta of 1.11. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.17 and a current ratio of 1.70.
A number of institutional investors have recently bought and sold shares of CBT. BlackRock Inc. boosted its position in Cabot by 7.2% during the 2nd quarter. BlackRock Inc. now owns 7,544,005 shares of the specialty chemicals company’s stock valued at $403,077,000 after acquiring an additional 505,594 shares in the last quarter. Earnest Partners LLC boosted its position in Cabot by 41.8% during the 2nd quarter. Earnest Partners LLC now owns 1,491,521 shares of the specialty chemicals company’s stock valued at $79,692,000 after acquiring an additional 439,350 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in Cabot by 433.2% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 440,191 shares of the specialty chemicals company’s stock valued at $24,563,000 after acquiring an additional 357,639 shares in the last quarter. Victory Capital Management Inc. boosted its position in Cabot by 37.9% during the 3rd quarter. Victory Capital Management Inc. now owns 1,102,342 shares of the specialty chemicals company’s stock valued at $61,511,000 after acquiring an additional 302,750 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. boosted its position in Cabot by 9.4% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 1,780,692 shares of the specialty chemicals company’s stock valued at $99,363,000 after acquiring an additional 152,988 shares in the last quarter. 84.82% of the stock is currently owned by institutional investors and hedge funds.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Friday, February 23rd will be given a dividend of $0.315 per share. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a $1.26 annualized dividend and a yield of 1.89%. Cabot’s payout ratio is 33.07%.
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.
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