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

Cabot Co. (NYSE:CBT) declared a quarterly dividend on Friday, November 8th,RTT News reports. Investors 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 1.56%. The ex-dividend date is Friday, November 29th.

Cabot has raised its dividend payment 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. 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 CBT stock opened at $110.59 on Wednesday. The stock’s 50 day simple moving average is $110.97 and its 200 day simple moving average is $102.76. 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 has a twelve month low of $70.63 and a twelve month high of $117.46. The company has a market capitalization of $6.01 billion, a price-to-earnings ratio of 16.41, a PEG ratio of 0.97 and a beta of 1.20.

Cabot (NYSE:CBT) last released its earnings results 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 return on equity of 26.60% and a net margin of 9.51%. The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the firm earned $1.65 EPS. The firm’s revenue was up 3.7% on a year-over-year basis. As a group, research analysts predict that Cabot will post 7.67 EPS for the current year.

Wall Street Analyst Weigh In

CBT has been the subject of a number of research reports. JPMorgan Chase & Co. downgraded Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 price objective for the company. in a research report on Monday, November 11th. Mizuho increased their target price on shares of Cabot from $103.00 to $122.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Finally, UBS Group reduced their price target on shares of Cabot from $103.00 to $98.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $105.00.

Insider Buying and Selling at Cabot

In related news, CAO Lisa M. Dumont sold 865 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $111.74, for a total value of $96,655.10. Following the sale, the chief accounting officer now owns 9,742 shares in the company, valued at approximately $1,088,571.08. This represents a 8.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sean D. Keohane sold 25,617 shares of the company’s 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 transaction, the chief executive officer now owns 331,174 shares in the company, valued at approximately $33,630,719.70. This trade represents a 7.18 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 75,807 shares of company stock worth $8,352,941. Corporate insiders own 3.07% of the company’s stock.

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.