Minerals Technologies Inc. (NYSE:MTX) Announces Quarterly Dividend of $0.12

Minerals Technologies Inc. (NYSE:MTX) announced a quarterly dividend on Tuesday, May 19th. Stockholders of record on Tuesday, June 2nd will be paid a dividend of 0.12 per share by the basic materials company on Thursday, June 18th. This represents a c) annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Tuesday, June 2nd.

Minerals Technologies has raised its dividend by an average of 0.2%annually over the last three years and has raised its dividend every year for the last 2 years. Minerals Technologies has a dividend payout ratio of 7.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Minerals Technologies to earn $7.25 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 6.6%.

Minerals Technologies Stock Down 1.2%

Shares of MTX traded down $0.93 during mid-day trading on Tuesday, hitting $75.04. 199,503 shares of the company’s stock were exchanged, compared to its average volume of 206,068. The company has a market cap of $2.33 billion, a price-to-earnings ratio of 14.51 and a beta of 1.12. Minerals Technologies has a fifty-two week low of $53.10 and a fifty-two week high of $84.34. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.47 and a current ratio of 2.13. The stock’s 50-day moving average is $71.94 and its 200-day moving average is $66.69.

Minerals Technologies (NYSE:MTX) last issued its earnings results on Thursday, April 30th. The basic materials company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.12. The firm had revenue of $546.90 million for the quarter, compared to analysts’ expectations of $516.39 million. Minerals Technologies had a net margin of 7.60% and a return on equity of 10.40%. The firm’s revenue was up 11.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.14 earnings per share. On average, sell-side analysts anticipate that Minerals Technologies will post 6.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on MTX. Wall Street Zen raised shares of Minerals Technologies from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 2nd. Seaport Research Partners reaffirmed a “buy” rating on shares of Minerals Technologies in a report on Monday, May 4th. Weiss Ratings raised shares of Minerals Technologies from a “sell (d+)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Finally, Truist Financial raised their target price on shares of Minerals Technologies from $89.00 to $90.00 and gave the company a “buy” rating in a report on Monday, May 4th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $90.00.

Minerals Technologies Company Profile

Minerals Technologies Inc develops, produces and processes a broad range of mineral-based products and solutions that serve a variety of industrial applications. Its offerings include bentonite, perlite, precipitated calcium carbonate (PCC), mineral sands, foundry additives, performance minerals and specialty chemicals designed to enhance performance in markets such as paper, steel, construction, oil and gas, environmental remediation and consumer products.

The company operates through several business segments, including Specialty Minerals, Refractory Minerals, Performance Materials and Recycled Materials.