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

Minerals Technologies Inc. (NYSE:MTX) declared a quarterly dividend on Wednesday, July 22nd. Shareholders 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 by an average of 0.2%annually over the last three years and has increased 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 $7.25 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 Performance

NYSE:MTX traded up $0.69 on Wednesday, hitting $74.42. The stock had a trading volume of 126,740 shares, compared to its average volume of 212,373. Minerals Technologies has a 52-week low of $53.94 and a 52-week high of $84.34. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of 14.39 and a beta of 1.15. The company has a quick ratio of 1.47, a current ratio of 2.13 and a debt-to-equity ratio of 0.54. The business’s 50-day simple moving average is $76.12 and its two-hundred day simple moving average is $72.20.

Minerals Technologies (NYSE:MTX) last issued its quarterly earnings data on Thursday, April 30th. The basic materials company reported $1.38 earnings per share for the quarter, topping 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 business’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.14 EPS. As a group, research analysts predict that Minerals Technologies will post 6.34 earnings per share for the current year.

Analysts Set New Price Targets

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

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.