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

Minerals Technologies Inc. (NYSE:MTX) declared a quarterly dividend on Wednesday, July 22nd. Investors of record on Friday, August 14th will be given a dividend of 0.12 per share by the basic materials company on Friday, September 4th. This represents a c) dividend on an annualized basis 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%annually over the last three years and has raised its dividend annually for the last 2 consecutive 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 $7.25 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 Up 0.9%

MTX stock traded up $0.69 on Wednesday, reaching $74.42. 126,740 shares of the company traded hands, compared to its average volume of 212,373. The firm has a fifty day simple moving average of $76.12 and a 200-day simple moving average of $72.20. The company has a market cap of $2.31 billion, a P/E ratio of 14.39 and a beta of 1.15. 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.

Minerals Technologies (NYSE:MTX) last released its earnings results on Thursday, April 30th. The basic materials company reported $1.38 EPS for the quarter, topping 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 business had revenue of $546.90 million for the quarter, compared to the consensus estimate of $516.39 million. During the same period in the previous year, the company posted $1.14 earnings per share. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. Research analysts anticipate that Minerals Technologies will post 6.34 earnings per share for the current year.

Insider Activity at Minerals Technologies

In related news, VP Timothy Jordan sold 6,000 shares of Minerals Technologies 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 completion of the sale, the vice president directly owned 1,279 shares in the company, valued at approximately $102,665.33. This trade represents a 82.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.70% of the stock is owned by company insiders.

Institutional Trading of Minerals Technologies

A number of institutional investors have recently made changes to their positions in MTX. EverSource Wealth Advisors LLC raised its holdings in shares of Minerals Technologies by 626.8% during the second quarter. EverSource Wealth Advisors LLC now owns 596 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 514 shares during the last quarter. Parallel Advisors LLC boosted its holdings in Minerals Technologies by 36.0% in the first quarter. Parallel Advisors LLC now owns 552 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 146 shares during the last quarter. Torren Management LLC bought a new stake in Minerals Technologies in the 4th quarter worth approximately $50,000. Danske Bank A S bought a new stake in Minerals Technologies in the 3rd quarter worth approximately $56,000. Finally, Versant Capital Management Inc raised its stake in Minerals Technologies by 87.3% during the 2nd quarter. Versant Capital Management Inc now owns 798 shares of the basic materials company’s stock valued at $59,000 after buying an additional 372 shares during the last quarter. Hedge funds and other 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.