Cabot Corporation (NYSE:CBT) to Issue Quarterly Dividend of $0.45

Cabot Corporation (NYSE:CBT - Get Free Report) declared a quarterly dividend on Friday, July 11th, RTT News reports. Stockholders of record on Friday, August 29th will be given a dividend of 0.45 per share by the specialty chemicals company on Thursday, September 11th. This represents a $1.80 annualized dividend and a dividend yield of 2.31%.

Cabot has a payout ratio of 22.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Cabot to earn $8.37 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 21.5%.

Cabot Trading Down 0.7%

NYSE CBT traded down $0.55 during trading hours on Monday, hitting $77.89. 271,064 shares of the company's stock were exchanged, compared to its average volume of 410,011. The firm has a market cap of $4.18 billion, a price-to-earnings ratio of 10.08, a PEG ratio of 0.71 and a beta of 0.85. The stock has a 50-day simple moving average of $75.61 and a 200 day simple moving average of $81.34. The company has a current ratio of 1.96, a quick ratio of 1.30 and a debt-to-equity ratio of 0.69. Cabot has a 1-year low of $71.64 and a 1-year high of $117.46.

Cabot (NYSE:CBT - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The specialty chemicals company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.86 by $0.04. The company had revenue of $936.00 million during the quarter, compared to the consensus estimate of $1.02 billion. Cabot had a net margin of 11.08% and a return on equity of 26.76%. The company's quarterly revenue was down 8.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.78 EPS. On average, equities analysts forecast that Cabot will post 7.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CBT. UBS Group reduced their target price on Cabot from $93.00 to $83.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Wall Street Zen lowered Cabot from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Geneos Wealth Management Inc. raised its holdings in shares of Cabot by 409.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 453 shares of the specialty chemicals company's stock worth $38,000 after acquiring an additional 364 shares during the last quarter. NewEdge Advisors LLC raised its stake in shares of Cabot by 2,559.5% in the first quarter. NewEdge Advisors LLC now owns 984 shares of the specialty chemicals company's stock worth $82,000 after purchasing an additional 947 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Cabot in the first quarter worth approximately $96,000. Empowered Funds LLC lifted its holdings in shares of Cabot by 102.6% in the first quarter. Empowered Funds LLC now owns 28,162 shares of the specialty chemicals company's stock valued at $2,341,000 after purchasing an additional 14,260 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Cabot by 3.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 122,022 shares of the specialty chemicals company's stock worth $10,145,000 after buying an additional 4,048 shares in the last quarter. 93.18% of the stock is owned by institutional investors.

About Cabot

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.