Cabot Corp. (CBT) Announces Quarterly Dividend of $0.30
Cabot Corp. (NYSE:CBT) announced a quarterly dividend on Friday, November 11th. Investors of record on Friday, November 25th will be given a dividend of 0.30 per share on Friday, December 9th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.38%.
Shares of Cabot Corp. (NYSE:CBT) opened at 50.46 on Monday. Cabot Corp. has a 52-week low of $36.12 and a 52-week high of $53.88. The company has a market cap of $3.14 billion, a PE ratio of 21.42 and a beta of 1.25. The company has a 50 day moving average of $51.27 and a 200-day moving average of $48.66.
Cabot Corp. (NYSE:CBT) last issued its earnings results on Monday, October 31st. The company reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.06. Cabot Corp. had a net margin of 6.18% and a return on equity of 14.77%. The firm had revenue of $619 million for the quarter, compared to analyst estimates of $654.40 million. During the same quarter last year, the business posted $0.78 earnings per share. The company’s quarterly revenue was down 7.7% on a year-over-year basis. Analysts forecast that Cabot Corp. will post $3.43 EPS for the current fiscal year.
In related news, VP James Patrick Kelly sold 2,500 shares of Cabot Corp. stock in a transaction on Wednesday, September 28th. The shares were sold at an average price of $52.95, for a total transaction of $132,375.00. Following the completion of the transaction, the vice president now owns 22,085 shares of the company’s stock, valued at $1,169,400.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Patrick M. Prevost sold 47,800 shares of Cabot Corp. stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $49.59, for a total transaction of $2,370,402.00. Following the transaction, the director now directly owns 326,023 shares of the company’s stock, valued at approximately $16,167,480.57. The disclosure for this sale can be found here. Corporate insiders own 2.48% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the company. Sei Investments Co. increased its position in shares of Cabot Corp. by 41.0% in the second quarter. Sei Investments Co. now owns 13,803 shares of the company’s stock worth $631,000 after buying an additional 4,017 shares in the last quarter. O Shaughnessy Asset Management LLC purchased a new position in shares of Cabot Corp. during the second quarter worth $172,000. Employees Retirement System of Texas increased its position in shares of Cabot Corp. by 40.6% in the second quarter. Employees Retirement System of Texas now owns 90,000 shares of the company’s stock worth $4,109,000 after buying an additional 26,000 shares in the last quarter. Trexquant Investment LP purchased a new position in shares of Cabot Corp. during the second quarter worth $342,000. Finally, BlackRock Japan Co. Ltd increased its position in shares of Cabot Corp. by 659.0% in the second quarter. BlackRock Japan Co. Ltd now owns 4,501 shares of the company’s stock worth $206,000 after buying an additional 3,908 shares in the last quarter. 85.55% of the stock is owned by institutional investors and hedge funds.
A number of analysts have weighed in on the stock. TheStreet upgraded shares of Cabot Corp. from a “hold” rating to a “buy” rating in a research report on Wednesday, July 27th. Zacks Investment Research upgraded shares of Cabot Corp. from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a research report on Wednesday, October 12th. Deutsche Bank AG raised their target price on shares of Cabot Corp. from $48.00 to $52.00 and gave the company a “hold” rating in a research report on Friday, August 12th. SunTrust Banks Inc. lowered shares of Cabot Corp. from a “buy” rating to a “neutral” rating and set a $51.00 target price on the stock. in a research report on Tuesday, August 2nd. They noted that the move was a valuation call. Finally, Jefferies Group reiterated a “buy” rating and set a $60.00 price target on shares of Cabot Corp. in a report on Monday, November 7th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $53.67.
Cabot Corp. Company Profile
Cabot Corporation (Cabot) is a global specialty chemicals and performance materials company. The Company’s principal products are rubber and specialty grade carbon blacks, fumed metal oxides, activated carbon, inkjet colorants, aerogel and cesium formate drilling fluids. The Company operates through four segments: Reinforcement Materials, Performance Chemicals, Purification Solutions and Specialty Fluids.
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