Minerals Technologies Inc. (MTX) to Distribute Quarterly Dividend of $0.13 on December 3rd

Minerals Technologies Inc. (NYSE:MTX) announced a quarterly dividend on Wednesday, October 21st. Investors of record on Thursday, November 5th will be given 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 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 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 dividend payout ratio of 8.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Minerals Technologies to earn $6.68 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 7.8%.

Minerals Technologies Trading Up 3.3%

Shares of Minerals Technologies stock opened at $64.78 on Tuesday. The company has a current ratio of 1.43, a quick ratio of 1.00 and a debt-to-equity ratio of 0.60. Minerals Technologies has a 12-month low of $54.65 and a 12-month high of $84.34. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of -29.85 and a beta of 1.12. The company has a fifty day simple moving average of $66.64 and a 200-day simple moving average of $71.32.

Minerals Technologies (NYSE:MTX) last issued its quarterly earnings data on Thursday, October 29th. The basic materials company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.09. The company had revenue of $554.90 million for the quarter, compared to analyst estimates of $552.20 million. Minerals Technologies had a positive return on equity of 10.63% and a negative net margin of 3.13%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.55 earnings per share. On average, equities analysts forecast that Minerals Technologies will post 5.70 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Wall Street Zen lowered shares of Minerals Technologies from a “strong-buy” rating to a “hold” rating in a research note on Saturday, August 8th. Zacks Research downgraded Minerals Technologies from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 14th. Finally, Weiss Ratings cut Minerals Technologies from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, October 27th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Minerals Technologies currently has an average rating of “Reduce” and an average target price of $90.00.

Minerals Technologies Company Profile

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.