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

Cabot Corporation (NYSE:CBT) announced a quarterly dividend on Friday, July 11th, RTT News reports. Investors 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 annualized dividend and a dividend yield of 2.30%.

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

Cabot Stock Down 0.8%

Shares of CBT opened at $78.42 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.30 and a current ratio of 1.96. Cabot has a one year low of $71.64 and a one year high of $117.46. The stock has a market capitalization of $4.21 billion, a price-to-earnings ratio of 10.14, a PEG ratio of 0.71 and a beta of 0.85. The stock has a 50 day moving average price of $75.61 and a 200 day moving average price of $81.49.

Cabot (NYSE:CBT) last released its quarterly earnings data 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 company 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 firm’s revenue for the quarter was down 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.78 earnings per share. Equities research analysts forecast that Cabot will post 7.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CBT. UBS Group lowered their price objective on Cabot from $93.00 to $83.00 and set a “neutral” rating on the stock in a research note on Monday, April 7th. Wall Street Zen lowered Cabot from a “buy” rating to a “hold” rating in a research note on Wednesday, May 7th.

Hedge Funds Weigh In On Cabot

Several large investors have recently modified their holdings of the business. Goldman Sachs Group Inc. lifted its stake in shares of Cabot by 32.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 442,646 shares of the specialty chemicals company’s stock valued at $36,802,000 after purchasing an additional 108,645 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of 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 valued at $10,145,000 after purchasing an additional 4,048 shares during the last quarter. Empowered Funds LLC lifted its stake 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 valued at $2,341,000 after purchasing an additional 14,260 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Cabot in the 1st quarter valued at $96,000. Finally, NewEdge Advisors LLC lifted its stake in Cabot by 2,559.5% during the 1st quarter. NewEdge Advisors LLC now owns 984 shares of the specialty chemicals company’s stock worth $82,000 after acquiring an additional 947 shares in the last quarter. Institutional investors and hedge funds own 93.18% of the company’s stock.

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.