Cabot Co. (NYSE:CBT – Get Free Report) declared a quarterly dividend on Friday, November 10th, Zacks reports. Shareholders of record on Friday, November 24th will be given a dividend of 0.40 per share by the specialty chemicals company on Friday, December 8th. This represents a $1.60 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date is Wednesday, November 22nd.
Cabot has raised its dividend payment by an average of 2.4% annually over the last three years and has increased its dividend annually for the last 1 consecutive years. Cabot has a payout ratio of 24.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Cabot to earn $7.20 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 22.2%.
Cabot Price Performance
CBT stock opened at $78.33 on Monday. The stock has a 50-day moving average price of $69.44 and a two-hundred day moving average price of $69.73. The stock has a market cap of $4.38 billion, a PE ratio of 10.11, a price-to-earnings-growth ratio of 2.40 and a beta of 1.23. The company has a current ratio of 1.98, a quick ratio of 1.27 and a debt-to-equity ratio of 0.78. Cabot has a 1 year low of $63.73 and a 1 year high of $83.74.
Analyst Ratings Changes
Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Cabot from $68.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday, August 11th. Credit Suisse Group cut their price objective on shares of Cabot from $85.00 to $82.00 and set an “outperform” rating for the company in a research report on Tuesday, August 8th. StockNews.com upgraded shares of Cabot from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 10th. Finally, UBS Group cut their price objective on shares of Cabot from $86.00 to $83.00 and set a “buy” rating for the company in a research report on Tuesday, November 7th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $83.60.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust boosted its position in Cabot by 176.0% in the first quarter. Parkside Financial Bank & Trust now owns 414 shares of the specialty chemicals company’s stock valued at $28,000 after buying an additional 264 shares in the last quarter. Milestone Investment Advisors LLC acquired a new stake in Cabot in the first quarter valued at approximately $87,000. State of Wyoming boosted its position in Cabot by 91.2% in the second quarter. State of Wyoming now owns 2,199 shares of the specialty chemicals company’s stock valued at $147,000 after buying an additional 1,049 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in Cabot by 8.0% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 3,329 shares of the specialty chemicals company’s stock valued at $212,000 after buying an additional 246 shares in the last quarter. Finally, Mackenzie Financial Corp acquired a new stake in Cabot in the first quarter valued at approximately $218,000. 91.05% of the stock is owned by institutional investors.
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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