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.
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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