UBS Group Cuts Cabot (NYSE:CBT) Price Target to $86.00

Cabot (NYSE:CBT) had its price objective lowered by UBS Group from $92.00 to $86.00 in a research report sent to investors on Monday,Benzinga reports. The brokerage currently has a neutral rating on the specialty chemicals company’s stock.

Other analysts have also issued research reports about the company. Mizuho upped their target price on Cabot from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, June 25th. Weiss Ratings reissued a “hold (c)” rating on shares of Cabot in a research note on Friday, August 21st. JPMorgan Chase & Co. boosted their price objective on shares of Cabot from $70.00 to $78.00 and gave the stock an “underweight” rating in a report on Friday, August 7th. Wall Street Zen cut shares of Cabot from a “buy” rating to a “hold” rating in a research note on Saturday, October 3rd. Finally, Truist Financial set a $100.00 target price on shares of Cabot in a report on Wednesday, August 5th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cabot presently has a consensus rating of “Hold” and an average price target of $87.80.

Cabot Trading Down 2.1%

NYSE CBT opened at $75.48 on Monday. The company has a quick ratio of 0.97, a current ratio of 1.47 and a debt-to-equity ratio of 0.48. The stock’s 50-day simple moving average is $81.99 and its two-hundred day simple moving average is $82.39. Cabot has a twelve month low of $58.33 and a twelve month high of $94.53. The company has a market capitalization of $3.90 billion, a price-to-earnings ratio of 21.26, a PEG ratio of 9.08 and a beta of 0.83.

Cabot (NYSE:CBT) last posted its quarterly earnings data on Monday, August 3rd. The specialty chemicals company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.01. The firm had revenue of $982.00 million during the quarter, compared to analysts’ expectations of $943.16 million. Cabot had a return on equity of 20.29% and a net margin of 5.23%.The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.90 EPS. Cabot has set its FY 2026 guidance at 6.150-6.450 EPS. Research analysts forecast that Cabot will post 6.35 EPS for the current fiscal year.

Cabot Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Friday, August 28th were given a $0.4725 dividend. The ex-dividend date was Friday, August 28th. This represents a $1.89 annualized dividend and a yield of 2.5%. Cabot’s payout ratio is presently 53.24%.

Insiders Place Their Bets

In other news, CEO Sean Keohane sold 134,895 shares of the stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $85.00, for a total transaction of $11,466,075.00. Following the completion of the sale, the chief executive officer owned 404,134 shares of the company’s stock, valued at approximately $34,351,390. This represents a 25.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 229,597 shares of company stock valued at $19,646,746 in the last ninety days. Insiders own 3.08% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CBT. BlackRock Inc. bought a new stake in shares of Cabot in the second quarter worth about $633,302,000. Bank of America Corp DE purchased a new position in Cabot during the 2nd quarter valued at about $150,772,000. Norges Bank bought a new position in Cabot during the 4th quarter valued at approximately $49,662,000. Bank of New York Mellon Corp purchased a new stake in Cabot in the 2nd quarter worth approximately $57,445,000. Finally, Pacer Advisors Inc. lifted its holdings in Cabot by 3,165.7% in the 4th quarter. Pacer Advisors Inc. now owns 229,252 shares of the specialty chemicals company’s stock worth $15,195,000 after buying an additional 222,232 shares during the period. 93.18% of the stock is owned by hedge funds and other institutional investors.

About Cabot

Cabot Corporation (NYSE: CBT) is a global specialty chemicals and performance materials company headquartered in Boston, Massachusetts. Founded in 1882 by Godfrey Lowell Cabot, the company develops and manufactures materials used by industrial and consumer-product manufacturers worldwide.

Cabot’s products include reinforcing carbon blacks used in tires, automotive components, and other rubber products; specialty carbon blacks used in coatings, plastics, inks, and batteries; and fumed silica used in adhesives, sealants, coatings, and personal-care applications.