Cabot Co. (NYSE:CBT) Plans Quarterly Dividend of $0.43

Cabot Co. (NYSE:CBT) declared a quarterly dividend on Friday, November 8th,RTT News reports. Shareholders of record on Friday, November 29th will be given a dividend of 0.43 per share by the specialty chemicals company on Friday, December 13th. This represents a $1.72 annualized dividend and a yield of 1.50%.

Cabot has increased 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 13 years. Cabot has a dividend payout ratio of 21.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Cabot to earn $8.72 per share next year, which means the company should continue to be able to cover its $1.72 annual dividend with an expected future payout ratio of 19.7%.

Cabot Trading Down 1.4 %

Cabot stock opened at $114.99 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.08 and a quick ratio of 1.45. The company has a market capitalization of $6.30 billion, a price-to-earnings ratio of 17.06, a PEG ratio of 0.98 and a beta of 1.20. Cabot has a one year low of $70.63 and a one year high of $117.46. The company’s fifty day moving average price is $109.13 and its two-hundred day moving average price is $101.56.

Cabot (NYSE:CBT) last issued its quarterly earnings results on Monday, November 4th. The specialty chemicals company reported $1.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.81 by ($0.01). The business had revenue of $1 billion during the quarter, compared to analyst estimates of $1.01 billion. Cabot had a net margin of 9.51% and a return on equity of 26.60%. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.65 earnings per share. On average, analysts forecast that Cabot will post 7.8 earnings per share for the current fiscal year.

Insider Activity at Cabot

In related news, CEO Sean D. Keohane sold 25,617 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $101.55, for a total value of $2,601,406.35. Following the completion of the sale, the chief executive officer now owns 331,174 shares in the company, valued at approximately $33,630,719.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Cabot news, EVP Jeff Ji Zhu sold 1,201 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $106.19, for a total transaction of $127,534.19. Following the completion of the transaction, the executive vice president now owns 96,000 shares in the company, valued at $10,194,240. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sean D. Keohane sold 25,617 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $101.55, for a total transaction of $2,601,406.35. Following the transaction, the chief executive officer now owns 331,174 shares of the company’s stock, valued at approximately $33,630,719.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,665 shares of company stock worth $4,986,299. Company insiders own 3.07% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on CBT. Mizuho raised their price target on Cabot from $103.00 to $122.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. UBS Group lowered their price target on Cabot from $103.00 to $98.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. raised their price target on Cabot from $95.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $105.00.

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.