Minerals Technologies Inc. (MTX) to Issue Quarterly Dividend of $0.11 on March 7th

Minerals Technologies Inc. (NYSE:MTX) announced a quarterly dividend on Wednesday, January 22nd,RTT News reports. Investors of record on Friday, February 14th will be paid a dividend of 0.11 per share by the basic materials company on Friday, March 7th. This represents a $0.44 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend is Friday, February 14th.

Minerals Technologies has increased its dividend payment by an average of 27.0% annually over the last three years. Minerals Technologies has a dividend payout ratio of 5.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Minerals Technologies to earn $7.81 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 5.6%.

Minerals Technologies Stock Performance

NYSE:MTX opened at $73.58 on Wednesday. The company has a quick ratio of 1.72, a current ratio of 2.46 and a debt-to-equity ratio of 0.51. The company has a market cap of $2.35 billion, a P/E ratio of 14.20 and a beta of 1.30. Minerals Technologies has a fifty-two week low of $68.29 and a fifty-two week high of $90.29. The firm’s 50 day moving average is $76.58 and its two-hundred day moving average is $76.50.

Minerals Technologies (NYSE:MTX) last posted its quarterly earnings results on Thursday, February 6th. The basic materials company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.11. Minerals Technologies had a net margin of 7.89% and a return on equity of 11.61%. Analysts expect that Minerals Technologies will post 6.81 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on MTX shares. Truist Financial cut their target price on shares of Minerals Technologies from $103.00 to $101.00 and set a “buy” rating on the stock in a research note on Monday. StockNews.com raised shares of Minerals Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th.

Minerals Technologies Company Profile

Minerals Technologies Inc develops, produces, and markets various mineral, mineral-based, and related systems and services. The company operates through two segments, Consumer & Specialties, and Engineered Solutions segments. The Consumer & Specialties segment offers household and personal care products, such as pet litter, personal care, fabric care, edible oil and other fluid purification, animal health, and agricultural products; and specialty additives products, including precipitated calcium carbonate and ground calcium carbonate products that are used in the paper, paperboard, and fiber based packaging industries, as well as automotive, construction, and table and food applications.