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

Cabot Co. (NYSE:CBT) declared a quarterly dividend on Friday, July 12th, Wall Street Journal reports. Shareholders of record on Friday, August 30th will be given a dividend of 0.43 per share by the specialty chemicals company on Friday, September 13th. This represents a $1.72 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend is Friday, August 30th.

Cabot has raised its dividend payment by an average of 3.9% per year over the last three years and has raised its dividend annually for the last 13 consecutive years. Cabot has a dividend payout ratio of 22.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Cabot to earn $7.53 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 22.8%.

Cabot Trading Down 1.1 %

Cabot stock opened at $103.48 on Wednesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.47 and a current ratio of 2.24. The stock has a market cap of $5.72 billion, a PE ratio of 13.10, a price-to-earnings-growth ratio of 0.96 and a beta of 1.20. The stock has a 50-day moving average of $95.98 and a two-hundred day moving average of $94.05. Cabot has a one year low of $65.10 and a one year high of $106.92.

Cabot (NYSE:CBT) last released its quarterly earnings data on Monday, August 5th. The specialty chemicals company reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.20. Cabot had a net margin of 11.51% and a return on equity of 26.21%. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1 billion. During the same quarter in the prior year, the business earned $1.42 earnings per share. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. On average, research analysts anticipate that Cabot will post 6.78 EPS for the current fiscal year.

Insider Activity

In related news, EVP Hobart Kalkstein sold 5,457 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $100.58, for a total value of $548,865.06. Following the completion of the transaction, the executive vice president now directly owns 61,688 shares of the company’s stock, valued at approximately $6,204,579.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Cabot news, CFO Erica Mclaughlin sold 23,274 shares of Cabot stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $99.79, for a total transaction of $2,322,512.46. Following the transaction, the chief financial officer now directly owns 59,814 shares of the company’s stock, valued at $5,968,839.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Hobart Kalkstein sold 5,457 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $100.58, for a total transaction of $548,865.06. Following the completion of the sale, the executive vice president now directly owns 61,688 shares of the company’s stock, valued at approximately $6,204,579.04. The disclosure for this sale can be found here. Company insiders own 3.07% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. StockNews.com lowered shares of Cabot from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 24th. UBS Group decreased their target price on Cabot from $103.00 to $98.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 6th. JPMorgan Chase & Co. lifted their price target 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 $104.00 to $109.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $101.75.

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.