Cabot Corp (CBT) was Downgraded by SunTrust to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. SunTrust advised their investors in a research report released on Aug 2, 2016.
On the company’s financial health, Cabot Corp reported $0.93 EPS for the quarter, based on the information available during the earnings call on Jul 27, 2016. Analyst had a consensus estimate of $0.93. The company had revenue of $621.00 million for the quarter, compared to analysts expectations of $611.75 million. The company’s revenue was down -10.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.64 EPS.
Cabot Corp closed down -2.9 points or -5.62% at $48.69 with 5,94,401 shares getting traded on Friday. Post opening the session at $51.09, the shares hit an intraday low of $48.65 and an intraday high of $51.09 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
Investors should note that on Jul 8, 2016, Cabot Corp announced a cash dividend of $0.3000. The company’s management has announced Aug 24, 2016 as the ex-dividend date and fixed the record date on Aug 26, 2016. The payable date has been fixed on Sep 9, 2016.
In a different news, on Jul 29, 2016, James Patrick Kelly (Vice President and Controller) sold 2,500 shares at $50.95 per share price. According to the SEC, on Jun 6, 2016, Patrick M. Prevost (director) sold 60,000 shares at $46.30 per share price. On Feb 26, 2015, Ronaldo H Schmitz (director) sold 5,000 shares at $46.85 per share price, according to the Form-4 filing with the securities and exchange commission.
Cabot Corporation (Cabot) is a global specialty chemicals and performance materials company. The Company’s principal products are rubber and specialty grade carbon blacks fumed metal oxides activated carbon inkjet colorants aerogel and cesium formate drilling fluids. The Company operates through four segments: Reinforcement Materials Performance Chemicals Purification Solutions and Specialty Fluids. The Reinforcement Materials segment includes rubber blacks products which are used in tires and industrial products. The Company’s Performance Chemicals consists of two businesses: Specialty Carbons and Formulations business and Metal Oxides business. The Purification Solutions segment includes activated carbon products which are used as either a colorant or a decolorizing agent in the production of products for food and beverage applications. The Company’s Specialty Fluids segment produces and markets cesium formate as a drilling and completion fluid.