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

Minerals Technologies Inc. (NYSE:MTX) announced a quarterly dividend on Wednesday, January 21st. Stockholders of record on Friday, February 13th will be given a dividend of 0.12 per share by the basic materials company on Friday, March 6th. This represents a c) annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Friday, February 13th.

Minerals Technologies has increased its dividend 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 payout ratio of 7.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Minerals Technologies to earn $7.54 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 6.4%.

Minerals Technologies Trading Up 2.1%

NYSE:MTX traded up $1.42 during mid-day trading on Wednesday, hitting $67.36. 147,234 shares of the stock traded hands, compared to its average volume of 120,158. The company has a quick ratio of 1.37, a current ratio of 1.98 and a debt-to-equity ratio of 0.56. Minerals Technologies has a 52 week low of $49.54 and a 52 week high of $78.23. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of -3,366.07 and a beta of 1.27. The firm’s 50 day moving average is $61.16 and its two-hundred day moving average is $60.67.

Minerals Technologies (NYSE:MTX) last issued its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.08. The firm had revenue of $532.40 million for the quarter, compared to the consensus estimate of $531.20 million. Minerals Technologies had a positive return on equity of 10.69% and a negative net margin of 0.08%.The company’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.51 earnings per share. On average, equities research analysts predict that Minerals Technologies will post 6.62 earnings per share for the current year.

Insider Buying and Selling

In other Minerals Technologies news, insider Brett Argirakis sold 6,501 shares of the firm’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $58.68, for a total value of $381,478.68. Following the completion of the transaction, the insider owned 27,602 shares of the company’s stock, valued at approximately $1,619,685.36. This trade represents a 19.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Dj Monagle III sold 23,093 shares of Minerals Technologies stock in a transaction dated Monday, December 29th. The stock was sold at an average price of $61.90, for a total value of $1,429,456.70. Following the sale, the insider directly owned 84,349 shares of the company’s stock, valued at approximately $5,221,203.10. This represents a 21.49% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 3.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of MTX. Wealth Enhancement Advisory Services LLC acquired a new position in Minerals Technologies in the second quarter valued at approximately $212,000. CSM Advisors LLC purchased a new position in shares of Minerals Technologies during the 2nd quarter worth $4,884,000. American Century Companies Inc. increased its position in shares of Minerals Technologies by 20.3% during the 2nd quarter. American Century Companies Inc. now owns 1,284,532 shares of the basic materials company’s stock worth $70,739,000 after purchasing an additional 216,453 shares during the last quarter. Inspire Investing LLC lifted its position in Minerals Technologies by 32.6% in the second quarter. Inspire Investing LLC now owns 8,381 shares of the basic materials company’s stock valued at $462,000 after buying an additional 2,060 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in Minerals Technologies by 44.6% during the second quarter. Blue Trust Inc. now owns 1,011 shares of the basic materials company’s stock worth $56,000 after buying an additional 312 shares during the period. 97.29% of the stock is owned by institutional investors and hedge funds.

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.