Cabot Co. (NYSE:CBT) announced a quarterly dividend on Friday, January 8th, Zacks reports. Investors 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 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend is Thursday, February 25th.
Cabot has increased its dividend payment by 12.5% over the last three years and has raised its dividend every year for the last 1 years. Cabot has a dividend payout ratio of 35.6% meaning its dividend is sufficiently covered by earnings. Equities research 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 stock has a 50-day moving average price of $47.52 and a two-hundred day moving average price of $42.20. The stock has a market cap of $2.86 billion, a PE ratio of -11.92 and a beta of 1.60. The company has a current ratio of 1.85, a quick ratio of 1.17 and a debt-to-equity ratio of 1.34. Cabot has a 1 year low of $20.00 and a 1 year high of $51.32.
A number of equities research analysts have recently weighed in on CBT shares. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Cabot from $42.00 to $45.00 and gave the company a “hold” rating in a research report on Tuesday, November 17th. UBS Group lifted their price objective on shares of Cabot from $47.00 to $49.00 and gave the company a “buy” rating in a research note on Thursday, November 5th. Zacks Investment Research raised shares of Cabot from a “sell” rating to a “hold” rating and set a $40.00 target price on the stock in a research note on Monday, November 2nd. Barclays boosted their target price on shares of Cabot from $53.00 to $60.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 3rd. Finally, The Goldman Sachs Group boosted their price objective on shares of Cabot from $136.00 to $143.00 and gave the stock a “sell” rating in a research note on Monday, December 14th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $57.00.
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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