Minerals Technologies Inc. (NYSE:MTX) Announces Quarterly Dividend of $0.13

Minerals Technologies Inc. (NYSE:MTX – Get Free Report) declared a quarterly dividend on Wednesday, October 21st. Investors of record on Thursday, November 5th will be paid a dividend of $0.13 per share by the basic materials company on Thursday, December 3rd. This represents a $0.52 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Thursday, November 5th. This is a 8.3% increase from Minerals Technologies’s previous quarterly dividend of $0.12.

Minerals Technologies has raised its dividend payment by an average of 0.2% annually over the last three years and has increased its dividend every year for the last 2 years. Minerals Technologies has a payout ratio of 7.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Minerals Technologies to earn $6.90 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 7.0%.

Minerals Technologies Price Performance

Shares of NYSE:MTX traded up $0.43 on Thursday, hitting $63.66. The company had a trading volume of 15,181 shares, compared to its average volume of 208,804. The business has a 50 day moving average of $68.08 and a 200 day moving average of $72.60. The company has a current ratio of 1.43, a quick ratio of 1.00 and a debt-to-equity ratio of 0.60. The company has a market cap of $1.98 billion, a PE ratio of -29.34 and a beta of 1.12. Minerals Technologies has a 52-week low of $53.94 and a 52-week high of $84.34.

Minerals Technologies (NYSE:MTX – Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The basic materials company reported $1.60 earnings per share for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.04). Minerals Technologies had a positive return on equity of 10.63% and a negative net margin of 3.13%. The business had revenue of $548.40 million for the quarter, compared to analysts’ expectations of $558.77 million. During the same period in the prior year, the company earned $1.55 EPS. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, equities analysts anticipate that Minerals Technologies will post 5.84 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on MTX shares. Zacks Research lowered shares of Minerals Technologies from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 14th. Wall Street Zen downgraded Minerals Technologies from a “strong-buy” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Weiss Ratings downgraded shares of Minerals Technologies from a “hold (c+)” rating to a “sell (d+)” rating in a research report on Monday, August 3rd. One investment analyst has rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat, Minerals Technologies has a consensus rating of “Reduce” and an average price target of $90.00.

Check Out Our Latest Analysis on Minerals Technologies

Minerals Technologies Company Profile

(Get Free Report)

Minerals Technologies Inc (NYSE: MTX) is a global specialty minerals and materials company that develops, produces and markets mineral-based products and engineered solutions for industrial and consumer applications. Its products are used in industries including paper and packaging, construction, environmental services, agriculture, food, personal care and automotive manufacturing.

The company supplies materials such as precipitated calcium carbonate, talc, bentonite, perlite and other specialty minerals.

See Also

Dividend History for Minerals Technologies (NYSE:MTX)

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