Cytec Industries Inc. (CYT) Declares Quarterly Dividend of $0.13
Cytec Industries (NYSE:CYT) declared a quarterly dividend on Tuesday, February 4th, American Banking & Market News reports. Shareholders of record on Monday, February 10th will be given a dividend of 0.125 per share on Tuesday, February 25th. This represents a $0.50 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend is Thursday, February 6th.
A number of research firms have recently commented on CYT. Analysts at Oppenheimer raised their price target on shares of Cytec Industries from $96.00 to $105.00 in a research note to investors on Monday. They now have an “outperform” rating on the stock. On a related note, analysts at Stifel Nicolaus initiated coverage on shares of Cytec Industries in a research note to investors on Wednesday, January 8th. They set a “hold” rating on the stock. Finally, analysts at Zacks upgraded shares of Cytec Industries from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday, November 26th. They now have a $88.60 price target on the stock. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $91.37.
Cytec Industries (NYSE:CYT) last announced its earnings results on Friday, January 31st. The company reported $1.53 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.11 by $0.42. The company had revenue of $480.00 million for the quarter, compared to the consensus estimate of $452.53 million.
Cytec Industries Inc (NYSE:CYT) is a specialty chemicals and materials company focused on developing, manufacturing and selling value-added products.
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