Cabot Co. (CBT) to Issue Quarterly Dividend of $0.35 on March 12th

Cabot Co. (NYSE:CBT) declared a quarterly dividend on Friday, January 8th, Zacks reports. Shareholders of record on Friday, February 26th will be paid a dividend of 0.35 per share by the specialty chemicals company on Friday, March 12th. This represents a $1.40 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date is Thursday, February 25th.

Cabot has increased its dividend by 12.5% over the last three years and has raised its dividend every year for the last 1 years. Cabot has a payout ratio of 35.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Cabot to earn $3.81 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 36.7%.

CBT stock opened at $50.52 on Tuesday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.17 and a current ratio of 1.85. The company has a market capitalization of $2.86 billion, a price-to-earnings ratio of -11.92 and a beta of 1.60. Cabot has a fifty-two week low of $20.00 and a fifty-two week high of $51.32. The stock has a fifty day moving average of $47.52 and a 200-day moving average of $42.20.

Cabot (NYSE:CBT) last posted its quarterly earnings results on Sunday, January 31st. The specialty chemicals company reported $1.18 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.30. Cabot had a positive return on equity of 11.67% and a negative net margin of 9.10%. Equities analysts predict that Cabot will post 3.36 EPS for the current year.

CBT has been the subject of several analyst reports. UBS Group raised their price target on Cabot from $47.00 to $49.00 and gave the company a “buy” rating in a report on Thursday, November 5th. The Goldman Sachs Group raised their price target on Cabot from $136.00 to $143.00 and gave the company a “sell” rating in a report on Monday, December 14th. Deutsche Bank Aktiengesellschaft raised their price target on Cabot from $42.00 to $45.00 and gave the company a “hold” rating in a report on Tuesday, November 17th. Barclays raised their price target on Cabot from $53.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, February 3rd. Finally, Zacks Investment Research raised Cabot from a “sell” rating to a “hold” rating and set a $40.00 price target on the stock in a report on Monday, November 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $57.00.

Cabot Company Profile

Cabot Corporation operates as a specialty chemicals and performance materials company. It operates through three segments: Reinforcement Materials, Performance Chemicals, and Purification Solutions. The company offers rubber grade carbon blacks 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.

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Dividend History for Cabot (NYSE:CBT)

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