The Vanguard Group, Inc. has recently announced that it has increased stake in Cabot Corporation (NYSE:CBT) by 0.50%. After grabbing 6.03 million shares, the institutional investor is now in possession of 29862.0 shares of the Basic Materials Company. The new investment brought the stake of investor firm to 10.70% having worth around $402.99 million. Moreover, EARNEST Partners LLC increased its share by 78877.0 to have a control over 3.16 million shares. And Fidelity Management & Research Co raised its holdings to 0.42 million shares by acquiring 3.11 million shares or 5.52% of the stake.
Cabot Corporation (CBT) concluded trading on 01/18/23 at a closing price of $70.82, with 0.27 million shares of worth about $19.03 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 5.06% during that period and on Wednesday the price saw a loss of about -1.64%. Currently the company’s common shares owned by public are about 56.50M shares, out of which, 55.92M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 5 analysts are covering the CBT stock and their offered price forecasts bring an average price target of $88.00. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $98.00 and could fall to a lowest price of $80.00. The stock’s current price level is 19.06% above of average price target set by the analysts, while a rise to estimated low would result in gain of 11.48% for the stock. However, touching the estimated high of $98.00 would mean a gain of 27.73% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 49 times over the past 12 months. They bought 234,142 shares in 22 of the transactions. In 27 selling transactions, insiders dumped 129,794 shares.
iShares Core S&P Mid Cap ETF, Vanguard Total Stock Market Index, and Undiscovered Managers Behavioral are the top 3 mutual funds which are holding stakes in Cabot Corporation iShares Core S&P Mid Cap ETF is currently holding 1.74 million shares of worth totaling $115.99 million. The company recently came selling 331.0 shares which brought its stake up to 3.08% of the company’s outstanding shares. Vanguard Total Stock Market Index bought 2558.0 shares, after which its hold over company’s outstanding shares expand to 3.00%, leaving 1.69 million shares with the mutual fund that have a worth of about $112.98 million. Undiscovered Managers Behavioral, after buying 1.63 million shares, have now control over 2.90% of the stake in the company. It holds 33900.0 shares of worth $108.98 million.
Cabot Corporation (NYSE: CBT) started trading at $72.52, above $0.52 from concluding price of the previous day. However, the stock later moved at a day high price of 73.72, or with a loss of -1.64%. Stock saw a price change of 0.48% in past 5 days and over the past one month there was a price change of 3.49%. Year-to-date (YTD), CBT shares are showing a performance of 5.95% which increased to 15.98% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $53.32 but also hit the highest price of $78.62 during that period. The average intraday trading volume for Cabot Corporation shares is 319.77K. The stock is currently trading 3.48% above its 20-day simple moving average (SMA20), while that difference is up 0.07% for SMA50 and it goes to 1.79% higher than SMA200.
The Vanguard Group, Inc. acquired 6.03 million shares of Cabot Corporation having value of about $402.99 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 29862.0 shares in the company valued at close to $2114826.84, or have control over 0.50% stake in the company. Cabot Corporation (NYSE: CBT) currently have 56.50M outstanding shares and institutions hold larger chunk of about 98.10% of that. Holding of mutual funds in the company is about 41.85% while other institutional holders and individual stake holders have control over 54.24% and 27.86% of the stake respectively.
The stock has a current market capitalization of $4.00B and its 3Y-monthly beta is at 1.38. PE ratio of stock for trailing 12 months is 19.69, while it has posted earnings per share of $3.60 in the same period. Its PEG reads 1.39 and has Quick Ratio of 1.00 while making debt-to-equity ratio of 1.61. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for CBT, volatility over the week remained 2.57% while standing at 2.67% over the month.
Analysts are in expectations that Cabot Corporation (CBT) stock would likely to be making an EPS of $1.45 in the current quarter, while forecast for next quarter EPS is $1.41 and it is $6.97 for next year. For the current quarter EPS, analysts have given the company a lowest target $1.41 which is $1.49 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1.11 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -16.10% while it is estimated to increase by 3.12% in next year. EPS is likely to grow at an annualized rate of 14.20% for next 5-years, compared to annual growth of -1.60% made by the stock over the past 5-years.
Analysts at 5 brokerage firms have issued recommendations for the Cabot Corporation (CBT)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.70. Out of those 5 Wall Street analysts, 5 recommended a “Buy” rating, while 0 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Deutsche Bank on November 16, 2022 offering a Buy rating for the stock and assigned a target price range of between $80 and $90 to it. Coverage by JP Morgan stated Cabot Corporation (CBT) stock as an Overweight in their note to investors on July 23, 2021, suggesting a price target of $62 for the stock. On July 01, 2021, Loop Capital Upgrade their recommendations, while on May 05, 2021, Northcoast Upgrade their ratings for the stock with a price target of $73. Stock get a Neutral rating from JP Morgan on July 27, 2020.