Cabot Corporation (NYSE:CBT - Get Free Report)'s stock price shot up 7.8% on Tuesday following a stronger than expected earnings report. The company traded as high as $78.93 and last traded at $79.49. 44,170 shares were traded during mid-day trading, a decline of 90% from the average session volume of 425,745 shares. The stock had previously closed at $73.71.
The specialty chemicals company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.10. The company had revenue of $923.00 million during the quarter, compared to analyst estimates of $957.29 million. Cabot had a net margin of 11.14% and a return on equity of 25.68%.
Cabot Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Friday, August 29th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. Cabot's dividend payout ratio (DPR) is 23.53%.
Wall Street Analyst Weigh In
CBT has been the topic of a number of research analyst reports. UBS Group set a $82.00 price objective on shares of Cabot and gave the company a "neutral" rating in a research note on Tuesday. Wall Street Zen cut shares of Cabot from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th.
Check Out Our Latest Analysis on Cabot
Hedge Funds Weigh In On Cabot
Several large investors have recently bought and sold shares of the stock. Beverly Hills Private Wealth LLC boosted its position in shares of Cabot by 3.6% during the 1st quarter. Beverly Hills Private Wealth LLC now owns 3,918 shares of the specialty chemicals company's stock valued at $326,000 after purchasing an additional 135 shares in the last quarter. Keeley Teton Advisors LLC boosted its holdings in shares of Cabot by 1.0% in the first quarter. Keeley Teton Advisors LLC now owns 16,756 shares of the specialty chemicals company's stock worth $1,393,000 after buying an additional 174 shares during the period. Isthmus Partners LLC boosted its holdings in shares of Cabot by 4.6% during the first quarter. Isthmus Partners LLC now owns 4,258 shares of the specialty chemicals company's stock worth $354,000 after purchasing an additional 186 shares during the period. Parkside Financial Bank & Trust boosted its holdings in shares of Cabot by 95.5% during the second quarter. Parkside Financial Bank & Trust now owns 387 shares of the specialty chemicals company's stock worth $29,000 after purchasing an additional 189 shares during the period. Finally, Ferguson Wellman Capital Management Inc. boosted its holdings in shares of Cabot by 4.2% during the second quarter. Ferguson Wellman Capital Management Inc. now owns 5,000 shares of the specialty chemicals company's stock worth $375,000 after purchasing an additional 200 shares during the period. Institutional investors and hedge funds own 93.18% of the company's stock.
Cabot Stock Performance
The company has a debt-to-equity ratio of 0.66, a current ratio of 2.13 and a quick ratio of 1.30. The firm has a market capitalization of $4.14 billion, a price-to-earnings ratio of 10.18 and a beta of 0.87. The firm's fifty day moving average is $75.97 and its 200 day moving average is $79.52.
About Cabot
(
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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.
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