Cabot Corporation (CBT) to Issue Quarterly Dividend of $0.30 on March 10th
Cabot Corporation (NYSE:CBT) announced a quarterly dividend on Friday, January 13th. Investors of record on Friday, February 24th will be given a dividend of 0.30 per share on Friday, March 10th. This represents a $1.20 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Wednesday, February 22nd.
Shares of Cabot Corporation (NYSE:CBT) opened at 58.34 on Friday. Cabot Corporation has a 52-week low of $42.10 and a 52-week high of $60.72. The company has a 50 day moving average of $55.01 and a 200 day moving average of $51.91. The firm has a market capitalization of $3.63 billion, a PE ratio of 17.63 and a beta of 1.21.
Cabot Corporation (NYSE:CBT) last issued its quarterly earnings results on Wednesday, February 1st. The company reported $0.84 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.14. Cabot Corporation had a net margin of 8.68% and a return on equity of 16.25%. The company earned $611 million during the quarter, compared to the consensus estimate of $609.25 million. During the same period in the prior year, the company earned $0.51 EPS. Cabot Corporation’s revenue was up 1.3% on a year-over-year basis. On average, analysts anticipate that Cabot Corporation will post $3.56 earnings per share for the current fiscal year.
In other Cabot Corporation news, insider Hobart Kalkstein sold 4,890 shares of the business’s stock in a transaction dated Friday, November 25th. The stock was sold at an average price of $51.80, for a total transaction of $253,302.00. Following the sale, the insider now owns 28,745 shares in the company, valued at approximately $1,488,991. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Patrick M. Prevost sold 62,400 shares of the business’s stock in a transaction dated Thursday, February 9th. The stock was sold at an average price of $57.48, for a total value of $3,586,752.00. Following the sale, the director now owns 315,620 shares in the company, valued at approximately $18,141,837.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 239,170 shares of company stock worth $13,717,988. Corporate insiders own 2.50% of the company’s stock.
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CBT has been the subject of a number of research analyst reports. Aegis initiated coverage on shares of Cabot Corporation in a report on Friday, January 13th. They issued a “hold” rating and a $59.00 price target for the company. Jefferies Group LLC reissued a “buy” rating and issued a $60.00 price target on shares of Cabot Corporation in a report on Monday, November 7th. Zacks Investment Research raised shares of Cabot Corporation from a “sell” rating to a “hold” rating in a report on Monday, November 28th. Finally, TheStreet downgraded Cabot Corporation from a “buy” rating to a “hold” rating in a report on Monday, October 31st. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Cabot Corporation has a consensus rating of “Hold” and an average target price of $55.50.
Cabot Corporation Company Profile
Cabot Corporation is a global specialty chemicals and performance materials company. The Company operates through four business segments: reinforcement materials, performance chemicals, purification solutions and specialty fluids. Reinforcement materials’ rubber grade carbon blacks are used to enhance the physical properties of the systems and applications in which they are incorporated.
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