Specialty chemicals company Cytec Industries (NYSE:CYT) announced earnings for the third quarter of 26 cents per share. Sales fell sharply in each of the company's segments year over year, but grew compared to the second quarter. The company boosted its guidance for full year adjusted earnings, to between 80 cents and a dollar per share, which is up from prior guidance of 60 to 90 cents.
The company also declared a quarterly dividend of 1.25 cents per share, for an annual yield of about .13%. Shares gained 8 and a half percent Friday afternoon, and touched a new 52 week high of 37.82. That's more than triple the stock's 52 week low of 10 dollars and 50 cents set in March.
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