Cytec Industries VP William N. Avrin Unloads 7,996 Shares (CYT)
Cytec Industries (NYSE:CYT) VP William N. Avrin unloaded 7,996 shares of the company’s stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $106.05, for a total transaction of $847,975.80. Following the completion of the sale, the vice president now directly owns 15,038 shares of the company’s stock, valued at approximately $1,594,780. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of analysts have recently weighed in on CYT shares. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Cytec Industries in a research note on Monday. They now have a $113.00 price target on the stock, up previously from $108.00. Separately, analysts at Jefferies Group raised their price target on shares of Cytec Industries from $105.00 to $120.00 in a research note on Monday, July 21st. They now have a “hold” rating on the stock. Finally, analysts at Cowen and Company raised their price target on shares of Cytec Industries from $110.00 to $115.00 in a research note on Monday, July 21st. They now have an “outperform” rating on the stock. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $112.70.
Shares of Cytec Industries (NYSE:CYT) traded up 0.11% during mid-day trading on Wednesday, hitting $104.2575. The stock had a trading volume of 162,547 shares. Cytec Industries has a 1-year low of $74.29 and a 1-year high of $109.25. The stock has a 50-day moving average of $103.8 and a 200-day moving average of $97.37. The company has a market cap of $3.743 billion and a P/E ratio of 16.44.
Cytec Industries (NYSE:CYT) last issued its quarterly earnings data on Friday, July 18th. The company reported $1.71 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.53 by $0.18. The company had revenue of $527.00 million for the quarter, compared to the consensus estimate of $522.29 million. During the same quarter in the prior year, the company posted $1.51 earnings per share. The company’s quarterly revenue was up 2.6% on a year-over-year basis. Analysts expect that Cytec Industries will post $5.96 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, August 25th. Stockholders of record on Monday, August 11th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Thursday, August 7th. This is a boost from Cytec Industries’s previous quarterly dividend of $0.13.
Cytec Industries Inc is a global specialty materials and Chemicals Company focused on developing, manufacturing and selling value-added products.
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