Cabot (NYSE:CBT) Price Target Cut to $85.00 by Analysts at JPMorgan Chase & Co.

Cabot (NYSE:CBT) had its price objective trimmed by JPMorgan Chase & Co. from $105.00 to $85.00 in a research note published on Friday,Benzinga reports. The firm currently has an underweight rating on the specialty chemicals company’s stock.

Other research analysts also recently issued research reports about the stock. Mizuho lowered their price objective on shares of Cabot from $122.00 to $110.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. StockNews.com upgraded shares of Cabot from a “hold” rating to a “buy” rating in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $97.00.

Cabot Trading Down 1.1 %

CBT opened at $84.56 on Friday. The company’s 50 day moving average price is $89.47 and its two-hundred day moving average price is $101.07. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.00 and a quick ratio of 1.29. Cabot has a fifty-two week low of $81.24 and a fifty-two week high of $117.46. The firm has a market capitalization of $4.58 billion, a price-to-earnings ratio of 11.23, a PEG ratio of 0.74 and a beta of 1.19.

Cabot (NYSE:CBT) last posted its quarterly earnings data on Monday, February 3rd. The specialty chemicals company reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.02. Cabot had a net margin of 10.60% and a return on equity of 26.79%. As a group, research analysts predict that Cabot will post 7.57 earnings per share for the current year.

Cabot announced that its board has initiated a share repurchase program on Tuesday, December 3rd that authorizes the company to buyback 10,000,000 shares. This buyback authorization authorizes the specialty chemicals company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Cabot Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.72 annualized dividend and a dividend yield of 2.03%. Cabot’s dividend payout ratio is currently 22.84%.

Institutional Trading of Cabot

Large investors have recently added to or reduced their stakes in the stock. First Horizon Advisors Inc. boosted its position in shares of Cabot by 22.0% in the third quarter. First Horizon Advisors Inc. now owns 650 shares of the specialty chemicals company’s stock valued at $73,000 after acquiring an additional 117 shares during the period. GAMMA Investing LLC raised its stake in shares of Cabot by 10.7% during the fourth quarter. GAMMA Investing LLC now owns 1,348 shares of the specialty chemicals company’s stock worth $123,000 after acquiring an additional 130 shares in the last quarter. Personal CFO Solutions LLC raised its stake in shares of Cabot by 3.3% during the fourth quarter. Personal CFO Solutions LLC now owns 4,285 shares of the specialty chemicals company’s stock worth $391,000 after acquiring an additional 137 shares in the last quarter. CWM LLC raised its stake in shares of Cabot by 35.6% during the third quarter. CWM LLC now owns 564 shares of the specialty chemicals company’s stock worth $63,000 after acquiring an additional 148 shares in the last quarter. Finally, Moran Wealth Management LLC increased its stake in shares of Cabot by 0.3% in the third quarter. Moran Wealth Management LLC now owns 62,116 shares of the specialty chemicals company’s stock worth $6,943,000 after buying an additional 178 shares during the period. Hedge funds and other 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.