Cabot Corporation (NYSE:CBT) Announces Quarterly Dividend of $0.45

Cabot Corporation (NYSE:CBT) declared a quarterly dividend on Monday, February 2nd. Stockholders of record on Friday, February 27th will be given a dividend of 0.45 per share by the specialty chemicals company on Friday, March 13th. This represents a c) dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, February 27th.

Cabot has raised its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 14 consecutive years. Cabot has a payout ratio of 22.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Cabot to earn $8.37 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 21.5%.

Cabot Stock Performance

Cabot stock traded up $0.11 during midday trading on Tuesday, hitting $72.97. The stock had a trading volume of 139,846 shares, compared to its average volume of 443,596. Cabot has a 52-week low of $58.33 and a 52-week high of $89.16. The company has a market capitalization of $3.86 billion, a PE ratio of 12.13, a P/E/G ratio of 3.78 and a beta of 0.89. The firm’s fifty day moving average is $68.35 and its two-hundred day moving average is $71.64. The company has a current ratio of 1.61, a quick ratio of 1.08 and a debt-to-equity ratio of 0.50.

Cabot (NYSE:CBT) last posted its quarterly earnings results on Monday, November 3rd. The specialty chemicals company reported $1.70 earnings per share for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.02). The firm had revenue of $899.00 million during the quarter, compared to the consensus estimate of $967.02 million. Cabot had a return on equity of 24.55% and a net margin of 8.91%.The business’s revenue for the quarter was down 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.80 earnings per share. On average, research analysts forecast that Cabot will post 7.57 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. UBS Group boosted their price objective on Cabot from $65.00 to $74.00 and gave the company a “neutral” rating in a research report on Monday, January 12th. JPMorgan Chase & Co. lowered their price target on Cabot from $75.00 to $54.00 and set an “underweight” rating on the stock in a report on Friday, November 28th. Weiss Ratings restated a “hold (c-)” rating on shares of Cabot in a research note on Monday, December 29th. Jefferies Financial Group reiterated a “buy” rating and set a $81.00 price objective on shares of Cabot in a research report on Thursday, January 8th. Finally, Mizuho upped their target price on shares of Cabot from $72.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday, December 18th. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Cabot currently has an average rating of “Hold” and an average target price of $72.25.

Cabot Company Profile

Cabot Corporation is a global specialty chemicals and performance materials company headquartered in Boston, Massachusetts. Founded in 1882 by Godfrey Lowell Cabot, the company has grown into a diversified manufacturer with operations across North America, Europe, Asia and Latin America. Cabot serves a wide range of end markets, including automotive, industrial, energy, and consumer products, supplying essential ingredients that enhance performance, durability and functionality.

The company operates two primary segments: Reinforcement Materials and Performance Materials.