As of the first quarter in 2023, investment firm Barrow Hanley Mewhinney & Strauss LLC has increased its holdings in Cabot Co. (NYSE:CBT) by 2.0%. This information has been disclosed in their most recent filing with the Securities and Exchange Commission (SEC). The firm now owns a total of 759,250 shares of Cabot stock after acquiring an additional 14,542 shares during this period. This amounts to approximately 1.35% ownership of Cabot, with a value of $58,189,000 based on the company’s most recent SEC filing.
Cabot’s latest quarterly earnings results were announced on August 7th, providing insight into the financial performance and trajectory of the specialty chemicals company. The reported earnings per share (EPS) for this quarter were $1.42, falling short of analysts’ consensus estimates by ($0.14). Additionally, Cabot recorded revenue of $968 million during this period, compared to a consensus estimate of $1.09 billion. It is worth noting that this reflects a decrease of 15.8% in revenue compared to the same quarter last year.
Despite missing estimates in EPS and experiencing a decline in revenue year-over-year, Cabot demonstrated a net margin of 7.48% and a commendable return on equity at 25.98%. These figures indicate a level of stability and resilience within the business.
Moving forward, analysts project that Cabot Co.’s earnings per share for the current fiscal year will amount to around 5.2. This prediction is reliant on various factors that may influence Cabot’s financial performance throughout the remainder of the year.
It is important to note that data presented here is accurate as it pertains to August 26, 2023; however, factors such as market fluctuations or company-specific developments can impact the future viability and prospects of an investment. Therefore, it is recommended for investors and analysts to stay updated with the latest news and developments surrounding Cabot Co.
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Institutional Investors and Hedge Funds Show Increased Interest in Cabot as Stock Fluctuates
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”CBT” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]Institutional investors and hedge funds have shown increased interest in Cabot, a specialty chemicals company, with recent buying and selling activity. Among the notable investors, FMR LLC raised its stake in Cabot by 27.2% during the first quarter, now owning 4,696,088 shares valued at $359,908,000. BlackRock Inc. also lifted its position in the company by 11.0% during the same period, holding 6,931,530 shares worth $474,186,000.
Goldman Sachs Group Inc., on the other hand, saw a significant increase of 237.4% in its ownership of Cabot stock during the second quarter. The financial firm now possesses 600,154 shares valued at $38,284,000. Vanguard Group Inc., which maintained steady growth in their position with a 6.5% increase during the first quarter holds 6,120,453 shares worth $418,701 along with Wellington Management Group LLP that bought an additional 353,154 shares during that same period.
Collectively these institutional investors own approximately 91.03% of Cabot’s stock according to recent reports.
Cabot’s stock has seen fluctuations as it traded up $0.44 reaching $69.68 per share on Friday while experiencing an average trading volume of 304,332 shares recently. With a beta of 1.29 indicating higher volatility compared to market trends which may be a cause for investor curiosity.
The company currently maintains a debt-to-equity ratio of .86 and is characterized by modest liquidity levels reflected by quick ratio standing at 1,.37 combined with current ratio at2 ,17 further adding some level complexity when it comes to gauging investment opportunities.
The price-to-earnings (P/E) ratio stands at approximately13 .10 and aligns with industry standards given company-specific circumstances; howeverit should be noted that this ratio is prone to fluctuations. A notable ratio investors may consider is the price/earnings-to-growth (PEG) ratio of 2.71 which when combined with high beta values suggests a degree perfusion in investor perplexity surrounding future growth prospects.
Cabot boasts a market capitalization of $3.90 billion, reinforcing its presence and importance in the specialty chemicals sector. The company’s stock performance has demonstrated solid resilience, although it had previously experienced some turbulence reflected in its fifty-two week low at $60.50 and fifty-two week high at $83.74.
In terms of dividends, Cabot recently announced payment of a quarterly dividend to shareholders on Friday, September 8th., Shareholders who Officialy held shares by August 25th will receive a dividend of $0.40 per share; however noteworthy tentativeness can be attached to this information as the company moves to finalize transitional adjustments.
Research analysts have also scrutinized Cabot’s prospects and have shared their insights on the company’s performance. JPMorgan Chase & Co., for instance provided a “neutral” rating while upping its price target from $68.00 to $70.00 In addition Deutsche Bank Aktiengesellschaft reduced their target price from $90.J00 down to SBO OU whilst Loop Capital brought down their own target price even further at 1o3 :00″
Despite those reduced targets StockNews.com initiated coverage and presented promising buy rating analysis enthusiasm
Overall, Bloomberg reports highlight an average rating of “Moderate Buy” assigned to the stock by one research analyst along with an average price target of approximately $8375 coinciding with more mid-range estimates from experts providing some reassurance for cautious potential investors weighing options in Cabot stock during these perplexing times.”
