Minerals Technologies Inc. Announces Quarterly Dividend of $0.05 (NYSE:MTX)

Minerals Technologies Inc. (NYSE:MTX – Get Rating) announced a quarterly dividend on Tuesday, May 17th, Zacks reports. Stockholders of record on Thursday, June 2nd will be paid a dividend of 0.05 per share by the basic materials company on Thursday, June 16th. This represents a $0.20 annualized dividend and a dividend yield of 0.30%. The ex-dividend date of this dividend is Wednesday, June 1st.

Minerals Technologies has a dividend payout ratio of 3.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Minerals Technologies to earn $6.37 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 3.1%.

Shares of Minerals Technologies stock traded down $0.94 during trading hours on Wednesday, hitting $66.34. 290 shares of the company’s stock traded hands, compared to its average volume of 166,862. The company has a market cap of $2.19 billion, a PE ratio of 13.43 and a beta of 1.30. Minerals Technologies has a twelve month low of $60.31 and a twelve month high of $88.62. The stock has a 50 day simple moving average of $64.68 and a 200-day simple moving average of $68.93. The company has a quick ratio of 1.66, a current ratio of 2.40 and a debt-to-equity ratio of 0.58.

Minerals Technologies (NYSE:MTX – Get Rating) last posted its quarterly earnings results on Thursday, April 28th. The basic materials company reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.11. The business had revenue of $519.10 million during the quarter, compared to the consensus estimate of $513.83 million. Minerals Technologies had a return on equity of 11.17% and a net margin of 8.75%. The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period last year, the firm earned $1.17 earnings per share. As a group, equities research analysts predict that Minerals Technologies will post 5.67 EPS for the current year.

A number of large investors have recently made changes to their positions in MTX. Ethic Inc. acquired a new position in Minerals Technologies in the first quarter worth approximately $203,000. Janus Henderson Group PLC acquired a new position in Minerals Technologies in the third quarter worth approximately $238,000. Jane Street Group LLC grew its position in Minerals Technologies by 36.6% in the first quarter. Jane Street Group LLC now owns 5,458 shares of the basic materials company’s stock worth $361,000 after buying an additional 1,463 shares during the last quarter. LPL Financial LLC grew its position in Minerals Technologies by 17.7% in the fourth quarter. LPL Financial LLC now owns 5,515 shares of the basic materials company’s stock worth $403,000 after buying an additional 831 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in Minerals Technologies by 114.3% in the first quarter. PNC Financial Services Group Inc. now owns 10,205 shares of the basic materials company’s stock worth $675,000 after buying an additional 5,442 shares during the last quarter. 94.87% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have commented on the company. Zacks Investment Research upgraded Minerals Technologies from a “sell” rating to a “hold” rating in a research note on Friday, May 6th. JPMorgan Chase & Co. raised Minerals Technologies from a “neutral” rating to an “overweight” rating and cut their price target for the company from $80.00 to $75.00 in a report on Monday, February 7th. StockNews.com cut Minerals Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, May 11th. Finally, CL King dropped their target price on Minerals Technologies from $90.00 to $87.00 in a report on Monday, February 7th.

About Minerals Technologies (Get Rating)

Minerals Technologies Inc develops, produces, and markets various specialty mineral, mineral-based, and synthetic mineral products, and supporting systems and services. The company operates through three segments: Performance Materials, Specialty Minerals and Refractories. The Performance Materials segment supplies bentonite and bentonite-related products, as well as leonardite.

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