Cytec Industries CEO Shane D. Fleming Unloads 6,017 Shares (CYT)
Cytec Industries (NYSE:CYT) CEO Shane D. Fleming sold 6,017 shares of Cytec Industries stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $103.07, for a total transaction of $620,172.19. Following the completion of the sale, the chief executive officer now directly owns 17,272 shares in the company, valued at approximately $1,780,225. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Cytec Industries (NYSE:CYT) opened at 103.29 on Monday. Cytec Industries has a 52-week low of $74.29 and a 52-week high of $109.25. The stock’s 50-day moving average is $103.8 and its 200-day moving average is $98.18. The company has a market cap of $3.709 billion and a P/E ratio of 16.31. Shares of Cytec Industries are scheduled to split on the morning of Thursday, September 18th. The 2-1 split was announced on Thursday, July 17th. The newly created shares will be distributed to shareholders after the closing bell on Wednesday, September 17th.
Cytec Industries (NYSE:CYT) last released its 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. On average, analysts predict that Cytec Industries will post $6.03 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, August 25th. Shareholders 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 0.97%. The ex-dividend date of this dividend is Thursday, August 7th. This is a positive change from Cytec Industries’s previous quarterly dividend of $0.13.
CYT has been the subject of a number of recent research reports. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Cytec Industries in a research note on Monday, July 28th. 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. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Cytec Industries presently has an average rating of “Hold” and a consensus price target of $116.14.
Cytec Industries Inc is a global specialty materials and Chemicals Company focused on developing, manufacturing and selling value-added products.
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