Cabot Co. (NYSE:CBT) Declares 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 dividend on an annualized basis and a yield of 1.50%.

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 13 years. Cabot has a dividend payout ratio of 21.9% meaning its dividend is sufficiently covered by earnings. Equities research 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 %

CBT stock traded down $1.61 during mid-day trading on Friday, reaching $114.99. 522,848 shares of the stock traded hands, compared to its average volume of 341,524. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.45 and a current ratio of 2.22. Cabot has a one year low of $70.63 and a one year high of $117.46. The stock has a market capitalization of $6.30 billion, a PE ratio of 17.30, a PEG ratio of 0.92 and a beta of 1.20. The business has a 50-day moving average price of $108.94 and a two-hundred day moving average price of $101.34.

Cabot (NYSE:CBT) last posted its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $1.80 earnings per share for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.01). Cabot had a net margin of 9.51% and a return on equity of 27.14%. The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the firm earned $1.65 EPS. The company’s revenue was up 3.7% on a year-over-year basis. Equities research analysts expect that Cabot will post 7.82 EPS for the current year.

Analyst Upgrades and Downgrades

CBT has been the subject of a number of recent analyst reports. UBS Group lowered their target price on shares of Cabot from $103.00 to $98.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. JPMorgan Chase & Co. boosted their target price on shares of Cabot from $95.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Finally, Mizuho upped their price objective on shares of Cabot from $103.00 to $122.00 and gave the stock an “outperform” rating in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $105.00.

Insider Buying and Selling at Cabot

In other Cabot 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 transaction of $2,601,406.35. Following the completion of the sale, the chief executive officer now directly owns 331,174 shares of the company’s stock, valued at approximately $33,630,719.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Cabot 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 transaction of $2,601,406.35. Following the completion of the sale, the chief executive officer now directly owns 331,174 shares of the company’s stock, valued at approximately $33,630,719.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Hobart Kalkstein sold 5,457 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $100.58, for a total transaction of $548,865.06. Following the transaction, the executive vice president now owns 61,688 shares in the company, valued at approximately $6,204,579.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,665 shares of company stock valued at $4,986,299. 3.07% of the stock is currently owned by insiders.

About Cabot

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.