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

Minerals Technologies Inc. (NYSE:MTX) declared a quarterly dividend on Wednesday, July 22nd. Investors of record on Friday, August 14th will be paid a dividend of 0.12 per share by the basic materials company on Friday, September 4th. This represents a c) annualized dividend and a yield of 0.6%. The ex-dividend date is Friday, August 14th.

Minerals Technologies has raised its dividend payment by an average of 0.2%per year 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. Equities 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 Trading Up 0.9%

Minerals Technologies stock opened at $74.42 on Thursday. The firm has a 50-day moving average of $75.95 and a 200-day moving average of $72.30. Minerals Technologies has a one year low of $53.94 and a one year high of $84.34. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.13 and a quick ratio of 1.47. The company has a market cap of $2.31 billion, a price-to-earnings ratio of 14.39 and a beta of 1.15.

Minerals Technologies (NYSE:MTX) last released its quarterly earnings data on Thursday, April 30th. The basic materials company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.26 by $0.12. Minerals Technologies had a return on equity of 10.40% and a net margin of 7.60%.The company had revenue of $546.90 million during the quarter, compared to the consensus estimate of $516.39 million. During the same quarter in the prior year, the firm posted $1.14 EPS. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. On average, equities analysts expect that Minerals Technologies will post 6.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Minerals Technologies news, VP Timothy Jordan sold 6,000 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $80.27, for a total value of $481,620.00. Following the sale, the vice president owned 1,279 shares in the company, valued at approximately $102,665.33. The trade was a 82.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 3.70% of the stock is owned by insiders.

Institutional Trading of Minerals Technologies

Several hedge funds have recently modified their holdings of the stock. State Street Corp grew its position in Minerals Technologies by 0.5% in the 4th quarter. State Street Corp now owns 1,221,398 shares of the basic materials company’s stock valued at $74,444,000 after purchasing an additional 6,458 shares during the period. Geode Capital Management LLC lifted its stake in shares of Minerals Technologies by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 897,850 shares of the basic materials company’s stock valued at $54,732,000 after buying an additional 4,693 shares in the last quarter. Brandes Investment Partners LP lifted its stake in shares of Minerals Technologies by 22.9% in the fourth quarter. Brandes Investment Partners LP now owns 819,908 shares of the basic materials company’s stock valued at $49,973,000 after buying an additional 152,950 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Minerals Technologies by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 597,297 shares of the basic materials company’s stock valued at $36,405,000 after buying an additional 15,467 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Minerals Technologies by 26.5% during the second quarter. Ameriprise Financial Inc. now owns 496,215 shares of the basic materials company’s stock valued at $27,327,000 after buying an additional 103,853 shares during the last quarter. Institutional investors own 97.29% of the company’s stock.

About Minerals Technologies

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.