Cabot Corp (NYSE:CBT) – Equities researchers at SunTrust Banks upped their Q2 2018 earnings estimates for Cabot in a research report issued on Tuesday. SunTrust Banks analyst J. Sheehan now expects that the specialty chemicals company will post earnings per share of $1.00 for the quarter, up from their prior estimate of $0.98. SunTrust Banks currently has a “Buy” rating on the stock. SunTrust Banks also issued estimates for Cabot’s Q3 2018 earnings at $1.06 EPS, Q4 2018 earnings at $1.08 EPS, FY2018 earnings at $3.87 EPS and FY2019 earnings at $4.27 EPS.
Cabot (NYSE:CBT) last issued its quarterly earnings results on Tuesday, October 31st. The specialty chemicals company reported $0.91 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.93 by ($0.02). The business had revenue of $723.00 million for the quarter, compared to analysts’ expectations of $683.30 million. Cabot had a return on equity of 15.11% and a net margin of 8.87%. The company’s revenue was up 16.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.00 EPS.
Shares of Cabot (NYSE:CBT) traded up $2.91 during trading on Wednesday, hitting $61.27. 699,700 shares of the stock traded hands, compared to its average volume of 339,282. The stock has a market cap of $3,615.38, a PE ratio of 17.01, a PEG ratio of 1.55 and a beta of 1.11. Cabot has a 1-year low of $50.21 and a 1-year high of $64.66. The company has a quick ratio of 1.17, a current ratio of 1.70 and a debt-to-equity ratio of 0.41.
The company also recently announced a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Friday, November 24th were paid a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend was Wednesday, November 22nd. Cabot’s dividend payout ratio (DPR) is 33.07%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CBT. AJO LP lifted its stake in shares of Cabot by 196.4% during the 2nd quarter. AJO LP now owns 918,731 shares of the specialty chemicals company’s stock valued at $49,088,000 after buying an additional 608,799 shares in the last quarter. BlackRock Inc. lifted its stake in shares of 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 buying an additional 505,594 shares in the last quarter. Earnest Partners LLC lifted its stake in shares of 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 buying an additional 439,350 shares in the last quarter. BNP Paribas Arbitrage SA lifted its stake in shares of 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 buying an additional 357,639 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of 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 buying an additional 302,750 shares in the last quarter. Institutional investors own 84.83% of the company’s stock.
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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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