Cabot Co. (NYSE:CBT – Get Free Report) announced a quarterly dividend on Monday, May 6th, Wall Street Journal reports. Investors of record on Friday, May 31st will be paid a dividend of 0.43 per share by the specialty chemicals company on Friday, June 14th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Friday, May 31st. This is a positive change from Cabot’s previous quarterly dividend of $0.40.
Cabot has raised its dividend payment by an average of 3.9% annually over the last three years and has increased its dividend every year for the last 1 years. Cabot has a payout ratio of 21.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Cabot to earn $7.42 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 21.6%.
Cabot Stock Performance
CBT stock traded up $0.20 during trading on Wednesday, reaching $101.27. 36,903 shares of the company’s stock were exchanged, compared to its average volume of 305,334. The company has a quick ratio of 1.30, a current ratio of 2.04 and a debt-to-equity ratio of 0.74. Cabot has a 1-year low of $63.73 and a 1-year high of $103.46. The company’s fifty day moving average price is $91.17 and its 200-day moving average price is $81.92. The firm has a market cap of $5.61 billion, a PE ratio of 13.12, a P/E/G ratio of 1.00 and a beta of 1.27.
Insider Activity at Cabot
In related news, EVP Jeff Ji Zhu sold 55,233 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $79.91, for a total transaction of $4,413,669.03. Following the transaction, the executive vice president now directly owns 97,201 shares in the company, valued at $7,767,331.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.07% of the company’s stock.
Analyst Ratings Changes
Several equities analysts have weighed in on the stock. Mizuho lifted their price objective on shares of Cabot from $104.00 to $109.00 and gave the stock a “buy” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft lowered Cabot from a “buy” rating to a “hold” rating and raised their price objective for the stock from $88.00 to $95.00 in a research report on Thursday, April 18th. UBS Group raised their price target on shares of Cabot from $100.00 to $103.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, StockNews.com lowered Cabot from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 14th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Cabot presently has an average rating of “Moderate Buy” and a consensus price target of $93.67.
Check Out Our Latest Report on Cabot
Cabot Company Profile
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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