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

Minerals Technologies Inc. (NYSE:MTX – Get Rating) announced a quarterly dividend on Tuesday, May 17th, Zacks reports. Shareholders of record on Thursday, June 2nd will be given 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 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. Research 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%.

NYSE MTX traded down $0.90 during trading on Wednesday, hitting $66.38. The stock had a trading volume of 209 shares, compared to its average volume of 166,862. The company has a market capitalization of $2.19 billion, a PE ratio of 13.43 and a beta of 1.30. The company’s 50-day moving average price is $64.68 and its two-hundred day moving average price is $68.93. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.66 and a current ratio of 2.40. Minerals Technologies has a 12 month low of $60.31 and a 12 month high of $88.62.

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

MTX has been the topic of a number of analyst reports. Zacks Investment Research upgraded Minerals Technologies from a “sell” rating to a “hold” rating in a research note on Friday, May 6th. StockNews.com cut Minerals Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, May 11th. JPMorgan Chase & Co. upgraded Minerals Technologies from a “neutral” rating to an “overweight” rating and dropped their price objective for the stock from $80.00 to $75.00 in a research note on Monday, February 7th. Finally, CL King dropped their price objective on Minerals Technologies from $90.00 to $87.00 in a research note on Monday, February 7th.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Ethic Inc. acquired a new position in Minerals Technologies in the 1st quarter valued at $203,000. Janus Henderson Group PLC acquired a new position in Minerals Technologies in the 3rd quarter valued at $238,000. Jane Street Group LLC grew its holdings in shares of Minerals Technologies by 36.6% during the 1st quarter. Jane Street Group LLC now owns 5,458 shares of the basic materials company’s stock worth $361,000 after purchasing an additional 1,463 shares in the last quarter. LPL Financial LLC grew its holdings in shares of Minerals Technologies by 17.7% during the 4th quarter. LPL Financial LLC now owns 5,515 shares of the basic materials company’s stock worth $403,000 after purchasing an additional 831 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Minerals Technologies by 114.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 10,205 shares of the basic materials company’s stock worth $675,000 after purchasing an additional 5,442 shares in the last quarter. Institutional investors and hedge funds own 94.87% of the company’s stock.

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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