Cabot Co. (NYSE:CBT) Announces Dividend Increase - $0.45 Per Share

Cabot Co. (NYSE:CBT - Get Free Report) announced a quarterly dividend on Monday, May 5th, RTT News reports. Shareholders of record on Friday, May 30th will be paid a dividend of 0.45 per share by the specialty chemicals company on Friday, June 13th. This represents a $1.80 annualized dividend and a yield of 2.32%. This is a 4.7% increase from Cabot's previous quarterly dividend of $0.43.

Cabot has raised its dividend payment by an average of 6.0% per year over the last three years and has increased its dividend every year for the last 13 years. Cabot has a dividend payout ratio of 21.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Cabot to earn $8.37 per share next year, which means the company should continue to be able to cover its $1.72 annual dividend with an expected future payout ratio of 20.5%.

Cabot Stock Performance

Shares of NYSE:CBT traded down $0.51 on Monday, reaching $77.48. 602,061 shares of the company's stock were exchanged, compared to its average volume of 396,425. The company has a market capitalization of $4.20 billion, a price-to-earnings ratio of 10.29, a PEG ratio of 0.74 and a beta of 0.91. The company has a current ratio of 2.00, a quick ratio of 1.29 and a debt-to-equity ratio of 0.72. The company has a fifty day moving average of $81.15 and a 200-day moving average of $92.32. Cabot has a twelve month low of $72.29 and a twelve month high of $117.46.

Cabot (NYSE:CBT - Get Free Report) last issued its earnings results on Monday, May 5th. The specialty chemicals company reported $1.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.86 by $0.04. Cabot had a return on equity of 26.79% and a net margin of 10.60%. On average, research analysts predict that Cabot will post 7.57 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Cabot from $105.00 to $85.00 and set an "underweight" rating on the stock in a report on Friday, February 21st. Mizuho dropped their target price on shares of Cabot from $122.00 to $110.00 and set an "outperform" rating on the stock in a research report on Tuesday, January 7th. StockNews.com raised shares of Cabot from a "hold" rating to a "buy" rating in a research report on Thursday, April 17th. Finally, UBS Group decreased their price objective on Cabot from $93.00 to $83.00 and set a "neutral" rating for the company in a report on Monday, April 7th.

Cabot Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.