Last $105.84 USD
Change Today +0.90 / 0.86%
Volume 122.9K
CYT On Other Exchanges
As of 12:49 PM 07/28/14 All times are local (Market data is delayed by at least 15 minutes).

cytec industries inc (CYT) Snapshot

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07/18/14 - $109.25
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cytec industries inc (CYT) Details

Cytec Industries Inc., a specialty materials and chemicals company, focuses on developing, manufacturing, and selling value-added products for aerospace and industrial materials, mining, and plastics industries. The company operates through four segments: Aerospace Materials, Industrial Materials, In Process Separation, and Additive Technologies. The Aerospace Materials segment provides aerospace-qualified prepregs, resin infusion systems, ablatives, structural/surfacing adhesives films, and high performance standard modulus carbon fibers. The Industrial Materials segment offers structural materials comprising industrial grade prepregs and structural/surfacing adhesives; and process materials, such as vacuum bagging, release films, and sealant tapes. The In Process Separation segment provides mining chemical products consisting of flotation promoters, collectors, frothers, dispersants and depressants, solvent extractants, flocculants, filter and dewatering aids, antiscalants, and defoamers; and phosphines comprising catalyst ligands, high purity phosphine gas, and biocides. The Additive Technologies segment offers polymer additives, such as ultraviolet light stabilizers and absorbers, high performance antioxidants, and antistatic agents; specialty additives, including acrylic acid stabilizers; and formulated resins comprising formulated high technology, specialty polyurethane, and epoxy resin systems. It operates in North America, Latin America, the Asia/Pacific, and Europe/the Middle East/Africa. The company markets its products through its sales forces, third-party distributors, and agents. It has strategic collaboration with Dralon GmbH to explore opportunities for industrial grade carbon fiber production. Cytec Industries Inc. was founded in 1993 and is headquartered in Woodland Park, New Jersey.

4,400 Employees
Last Reported Date: 02/21/14
Founded in 1993

cytec industries inc (CYT) Top Compensated Officers

Chairman, Chief Executive Officer and Preside...
Total Annual Compensation: $896.1K
Chief Financial Officer, Chief Accounting Off...
Total Annual Compensation: $681.8K
Vice President of Corporate & Business Develo...
Total Annual Compensation: $598.2K
Corporate Officer and President of Cytec Aero...
Total Annual Compensation: $353.1K
Vice President, General Counsel and Secretary
Total Annual Compensation: $600.8K
Compensation as of Fiscal Year 2013.

cytec industries inc (CYT) Key Developments

Cytec Industries Inc. Approves Amendments to the By-Laws

On July 17, 2014, the Board of Directors of Cytec Industries Inc. adopted and approved an amendment to the By-laws of the company, effective July 17, 2014, to amend the advance notice requirement for stockholders to bring business before an annual stockholders' meeting to require written notice not more than 120 days nor less than 90 days prior to the anniversary date of the immediately preceding annual stockholders meeting; provided however, that in the event that the date of the annual meeting is more than 30 days before or more than 60 days after such anniversary date, notice by the stockholder to be timely must be so delivered not more than 120 days prior to such annual meeting and not later than the later of the 90 day prior to such annual meeting or the 10th day following the day on which public announcement of the date of such annual meeting is first made. In addition, the amendments include certain disclosure and representations requirements for stockholders seeking to nominate a director or make a stockholder proposal, including generally, but not limited to, disclosure of detailed information about the stockholder; their ownership of Cytec stock and any derivatives; any conflicting relationships; any other persons working with the stockholder; any investments in competitors; any threatened litigation with the Corporation; and their plans to solicit proxies from other stockholders.

Cytec Industries Inc. Declares Cash Dividend Payable on August 25, 2014

Cytec Industries Inc. announced two significant decisions for shareholders. The first was that the company's Board of Directors declared an increase in the quarterly cash dividend from $0.125 to $0.25 per share on the common stock of the company. The cash dividend is payable on August 25, 2014 to shareholders of record as of August 11, 2014 and will be paid on the pre-split shares.

Cytec Industries Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Increases Earnings Guidance for the Full Year 2014

Cytec Industries Inc. reported earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported net earnings attributable to Cytec of $73.6 million or $2.00 per diluted share. Net sales from continuing operations were $527 million. Earnings from continuing operations were $62.5 million or $1.70 per diluted share. Net earnings attributable to Cytec for the second quarter of 2013 were $34.6 million or $0.83 per diluted share. Net sales from continuing operations were $514 million. Earnings from continuing operations for the second quarter of 2013 were $62.6 million or $1.51 per diluted share. Operating cash flows provided by continuing operations were $43 million for the second quarter of 2014, a significant improvement versus the use of cash of $20 million in the prior year second quarter. Capital spending for continuing operations in the quarter was $57 million which compares to $72 million in the prior year period. Net earnings attributable to Cytec for the six months ended June 30, 2014 were $129.5 million or $3.53 per diluted share on net sales of $1,016 million. Earnings from continuing operations were $118.4 million or $3.23 per diluted share. Net earnings attributable to Cytec for the six months ended June 30, 2013 were $70.3 million or $1.61 per diluted share on net sales of $991 million from continuing operations. Earnings from continuing operations were $71.4 million or $1.63 per diluted share. On a year to date basis, operating cash flows from continuing operations were $105 million as compared to the prior year's use of cash of $6 million. For the year 2014, the company has revised earnings results. As a result of these revisions, the full year guidance for 2014 adjusted diluted earnings per share has increased to a range between $5.85 and $6.15 versus the prior range of $5.60 and $6.00. Expectation for capital spending for the full year 2014 remains in a range of $180 to $200 million. The forecast for the underlying annual tax rate is estimated in a range between 30% and 32% excluding the net tax benefit of $5.4 million recorded in the first quarter.


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Price/Earnings 17.6x
Price/Sales 1.9x
Price/Book 2.8x
Price/Cash Flow 15.2x
TEV/Sales 1.5x

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