Cabot Co. (CBT) to Issue Quarterly Dividend of $0.43 on December 13th

Cabot Co. (NYSE:CBT) announced a quarterly dividend on Friday, November 8th,RTT News reports. Shareholders of record on Friday, November 29th will be paid 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 1.56%. The ex-dividend date is Friday, November 29th.

Cabot has raised its dividend by an average of 3.9% annually over the last three years and has raised its dividend every year for the last 13 years. Cabot has a payout ratio of 22.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Cabot to earn $8.48 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 20.3%.

Cabot Stock Down 2.6 %

Shares of NYSE:CBT opened at $110.59 on Wednesday. The stock has a 50-day simple moving average of $110.97 and a 200-day simple moving average of $102.76. The stock has a market capitalization of $6.01 billion, a P/E ratio of 16.41, a PEG ratio of 0.97 and a beta of 1.20. Cabot has a 1 year low of $70.63 and a 1 year high of $117.46. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 2.08.

Cabot (NYSE:CBT) last released its quarterly earnings data 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). Cabot had a return on equity of 26.60% and a net margin of 9.51%. The business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the prior year, the firm earned $1.65 earnings per share. Cabot’s quarterly revenue was up 3.7% compared to the same quarter last year. Equities analysts forecast that Cabot will post 7.67 earnings per share for the current year.

Insider Buying and Selling at Cabot

In other Cabot news, CEO Sean D. Keohane sold 25,617 shares of the business’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 sale, the chief executive officer now owns 331,174 shares in the company, valued at approximately $33,630,719.70. The trade was a 7.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jeff Ji Zhu sold 14,566 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $113.25, for a total transaction of $1,649,599.50. Following the completion of the transaction, the executive vice president now directly owns 69,449 shares of the company’s stock, valued at $7,865,099.25. This represents a 17.34 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 75,807 shares of company stock valued at $8,352,941. 3.07% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on CBT shares. Mizuho upped their target price on Cabot from $103.00 to $122.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. UBS Group decreased their price objective on Cabot from $103.00 to $98.00 and set a “neutral” rating for the company in a report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. downgraded Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 target price on the stock. in a research note on Monday, November 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $105.00.

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.