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

Cabot Corporation (NYSE:CBT - Get Free Report) declared a quarterly dividend on Friday, July 11th, RTT News reports. Shareholders of record on Friday, August 29th will be paid a dividend of 0.45 per share by the specialty chemicals company on Thursday, September 11th. This represents a $1.80 dividend on an annualized basis and a yield of 2.30%.

Cabot has a dividend payout ratio of 22.8% indicating that its dividend is sufficiently covered by earnings. Equities 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 Price Performance

NYSE CBT traded down $0.64 during trading on Friday, reaching $78.42. The company's stock had a trading volume of 251,466 shares, compared to its average volume of 410,208. The stock has a market capitalization of $4.21 billion, a PE ratio of 10.14, a P/E/G ratio of 0.71 and a beta of 0.85. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.96 and a quick ratio of 1.30. The firm has a fifty day moving average of $75.61 and a 200 day moving average of $81.49. Cabot has a one year low of $71.64 and a one year high of $117.46.

Cabot (NYSE:CBT - Get Free Report) last announced its earnings results on Monday, May 5th. The specialty chemicals company reported $1.90 earnings per share for the quarter, topping analysts' consensus estimates of $1.86 by $0.04. The business had revenue of $936.00 million for the quarter, compared to analyst estimates of $1.02 billion. Cabot had a return on equity of 26.76% and a net margin of 11.08%. The company's quarterly revenue was down 8.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.78 EPS. Analysts expect that Cabot will post 7.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CBT. Wall Street Zen cut Cabot from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. UBS Group cut 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.

Institutional Investors Weigh In On Cabot

Institutional investors have recently bought and sold shares of the stock. Geneos Wealth Management Inc. lifted its holdings in 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 buying an additional 364 shares during the period. NewEdge Advisors LLC lifted its holdings in Cabot by 2,559.5% in the 1st quarter. NewEdge Advisors LLC now owns 984 shares of the specialty chemicals company's stock worth $82,000 after buying an additional 947 shares during the period. Acadian Asset Management LLC purchased a new stake in Cabot in the 1st quarter worth approximately $96,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Cabot by 3.4% in the 1st 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 during the period. Finally, Empowered Funds LLC raised its position in shares of Cabot by 102.6% in the 1st quarter. Empowered Funds LLC now owns 28,162 shares of the specialty chemicals company's stock worth $2,341,000 after acquiring an additional 14,260 shares in the last quarter. 93.18% of the stock is currently owned by hedge funds and other 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.

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