Cabot Co. (NYSE:CBT – Get Free Report) 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.
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.
Check Out Our Latest Research Report on CBT
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.
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