Last $45.44 USD
Change Today -0.65 / -1.41%
Volume 463.3K
CYT On Other Exchanges
Symbol
Exchange
Berlin
As of 8:04 PM 10/22/14 All times are local (Market data is delayed by at least 15 minutes).

cytec industries inc (CYT) Snapshot

Open
$46.29
Previous Close
$46.09
Day High
$46.43
Day Low
$45.43
52 Week High
07/18/14 - $54.63
52 Week Low
10/23/13 - $40.78
Market Cap
3.3B
Average Volume 10 Days
696.8K
EPS TTM
$3.15
Shares Outstanding
72.1M
EX-Date
11/6/14
P/E TM
14.4x
Dividend
$0.50
Dividend Yield
0.69%
Current Stock Chart for CYTEC INDUSTRIES INC (CYT)

cytec industries inc (CYT) Related Businessweek News

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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
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
Vice President
Total Annual Compensation: $681.8K
Compensation as of Fiscal Year 2013.

cytec industries inc (CYT) Key Developments

Cytec Industries Mulls Acquisitions

Cytec Industries Inc. (NYSE:CYT) intends to pursue acquisitions. "Our uses of cash remain consistent capital to maintain our business, expansion capital to meet our growth objective, bolt-on acquisitions, continue to improve our already strong balance sheet while we maintain our debt over time, and to reward shareholders with meaningful dividends from sustainable operating cash flow and to repurchase shares from excess free cash flow," Dan Darazsdi, Vice President and Chief Financial Officer of Cytec Industries, said.

Cytec Industries Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Revises Earnings Guidance for the Year 2014

Cytec Industries Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported net sales of $506.8 million against $463.9 million a year ago. Earnings from operations were $82.9 million against $64.2 million a year ago. Earnings from continuing operations before income taxes were $78.2 million against $60.5 million a year ago. Earnings from continuing operations were $53.8 million or $0.73 per diluted share against $44.4 million or $0.60 per diluted share a year ago. Net earnings attributable to the company were $53.6 million or $0.73 per diluted share against $43.8 million or $0.59 per diluted share a year ago. Cash Flows provided by operating activities were $67 million for the third quarter of 2014. Capital spending for continuing operations in the third quarter was $49 million. The majority of the spending was related to capacity expansions for the In Process Separation and Aerospace Materials segments. For the nine months, the company reported net sales of $1,523.0 million against $1,455.1 million a year ago. Earnings from operations were $253.8 million against $219.3 million a year ago. Earnings from continuing operations before income taxes were $242.3 million against $156.2 million a year ago. Earnings from continuing operations were $172.1 million or $2.34 per diluted share against $115.8 million or $1.40 per diluted share a year ago. Net earnings attributable to the company were $183.1 million or $2.49 per diluted share against $114.1 million or $1.38 per diluted share a year ago. Net cash provided by operating activities was $172.0 million against net cash used in operating activities of $30.6 million a year ago. Additions to plants, equipment and facilities were $170.3 million against $219.9 million a year ago. The company revising revenue estimate to be in a range between $270 and $280 million versus prior estimate between $280 and $290 million, and operating earnings are now estimated in a range between $34 and $36 million versus prior range between $39 and $41 million. The guidance for Corporate and Unallocated is unchanged at approximately $25 million for the full year. Interest Expense is now estimated to be $15 million versus prior estimate of $17 million. The forecast for the underlying annual tax rate is unchanged, estimated in a range between 30% and 32% excluding the net tax benefit of $5.4 million recorded in the first quarter. As a result of these changes, the full year guidance for 2014 adjusted diluted earnings per share is now a range between $2.85 and $2.95 versus prior guidance of $2.925 and $3.075 (stock split adjusted). Now that the two large projects have reached mechanical completion, the company's expectation for the full year 2014 capital spending is approximately $200 to $210 million.

Cytec Industries Inc. Declares Quarterly Dividend, Payable on November 25, 2014

Cytec Industries Inc. announced that the company's Board of Directors declared a regular quarterly cash dividend of $0.125 per share on the common stock of the company, payable on November 25, 2014 to shareholders of record as of November 10, 2014.

 

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Industry Analysis

CYT

Industry Average

Valuation CYT Industry Range
Price/Earnings 14.5x
Price/Sales 1.6x
Price/Book 2.4x
Price/Cash Flow 12.6x
TEV/Sales 1.2x
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