Cabot Corp Declares Quarterly Dividend of $0.33 (CBT)

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Cabot Corp (NYSE:CBT) announced a quarterly dividend on Friday, January 11th, RTT News reports. Shareholders of record on Friday, February 22nd will be paid a dividend of 0.33 per share by the specialty chemicals company on Friday, March 8th. This represents a $1.32 annualized dividend and a yield of 2.92%.

Cabot has raised its dividend payment by an average of 14.0% per year over the last three years and has increased its dividend every year for the last 7 years. Cabot has a payout ratio of 32.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Cabot to earn $5.22 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 25.3%.

CBT traded down $0.67 during trading on Friday, hitting $45.25. The stock had a trading volume of 466,866 shares, compared to its average volume of 370,108. The company has a market cap of $2.73 billion, a price-to-earnings ratio of 11.23, a price-to-earnings-growth ratio of 0.94 and a beta of 1.46. Cabot has a twelve month low of $39.57 and a twelve month high of $68.63. The company has a quick ratio of 0.92, a current ratio of 1.46 and a debt-to-equity ratio of 0.56.

Cabot (NYSE:CBT) last posted its quarterly earnings data on Monday, November 5th. The specialty chemicals company reported $1.00 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.09 by ($0.09). Cabot had a positive return on equity of 18.82% and a negative net margin of 3.49%. The company had revenue of $850.00 million for the quarter, compared to analyst estimates of $856.76 million. During the same quarter in the previous year, the firm posted $0.91 earnings per share. The company’s quarterly revenue was up 17.6% on a year-over-year basis. On average, sell-side analysts expect that Cabot will post 4.6 EPS for the current year.

CBT has been the subject of several research reports. Barclays initiated coverage on shares of Cabot in a research note on Monday, October 8th. They set an “overweight” rating and a $76.00 price objective for the company. ValuEngine downgraded shares of Cabot from a “hold” rating to a “sell” rating in a research note on Thursday, October 11th. Zacks Investment Research downgraded shares of Cabot from a “buy” rating to a “sell” rating in a research note on Tuesday, October 16th. TheStreet downgraded shares of Cabot from a “b” rating to a “c+” rating in a research note on Friday, October 19th. Finally, Loop Capital set a $82.00 price objective on shares of Cabot and gave the stock a “buy” rating in a research note on Tuesday, November 6th. Two analysts have rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $75.00.

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About Cabot

Cabot Corporation operates as a specialty chemicals and performance materials company. The company offers rubber grade carbon blacks 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 compounds of carbon black and rubber.

Further Reading: What Factors Can Affect Return on Equity?

Dividend History for Cabot (NYSE:CBT)

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