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

Minerals Technologies Inc. (NYSE:MTX) announced a quarterly dividend on Tuesday, May 19th. Stockholders of record on Tuesday, June 2nd will be paid a dividend of 0.12 per share by the basic materials company on Thursday, June 18th. This represents a c) annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Tuesday, June 2nd.

Minerals Technologies has raised its dividend payment by an average of 0.2%per year over the last three years and has raised its dividend annually for the last 2 consecutive years. Minerals Technologies has a dividend 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 Trading Down 1.2%

Shares of NYSE MTX opened at $75.04 on Wednesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.47 and a current ratio of 2.13. The business’s 50 day moving average price is $72.10 and its 200-day moving average price is $66.84. Minerals Technologies has a fifty-two week low of $53.10 and a fifty-two week high of $84.34. The company has a market cap of $2.33 billion, a price-to-earnings ratio of 14.51 and a beta of 1.12.

Minerals Technologies (NYSE:MTX) last issued its quarterly earnings results 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. Minerals Technologies had a return on equity of 10.40% and a net margin of 7.60%.The firm had revenue of $546.90 million for the quarter, compared to the consensus estimate of $516.39 million. During the same period in the prior year, the business posted $1.14 earnings per share. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. On average, sell-side analysts expect that Minerals Technologies will post 6.33 earnings per share for the current year.

Insider Transactions at Minerals Technologies

In other Minerals Technologies news, VP Timothy Jordan sold 6,000 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $80.27, for a total transaction of $481,620.00. Following the sale, the vice president owned 1,279 shares of the company’s stock, valued at approximately $102,665.33. This trade represents a 82.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.70% of the stock is currently owned by company insiders.

Institutional Trading of Minerals Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC boosted its position in Minerals Technologies by 36.0% during the 1st quarter. Parallel Advisors LLC now owns 552 shares of the basic materials company’s stock valued at $39,000 after acquiring an additional 146 shares in the last quarter. ProShare Advisors LLC boosted its position in Minerals Technologies by 3.2% during the 4th quarter. ProShare Advisors LLC now owns 6,139 shares of the basic materials company’s stock valued at $374,000 after acquiring an additional 192 shares in the last quarter. Rockefeller Capital Management L.P. boosted its position in Minerals Technologies by 7.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,878 shares of the basic materials company’s stock valued at $175,000 after acquiring an additional 192 shares in the last quarter. Hsbc Holdings PLC boosted its position in Minerals Technologies by 4.5% during the 4th quarter. Hsbc Holdings PLC now owns 4,514 shares of the basic materials company’s stock valued at $276,000 after acquiring an additional 193 shares in the last quarter. Finally, Jain Global LLC boosted its position in Minerals Technologies by 6.4% during the 4th quarter. Jain Global LLC now owns 4,143 shares of the basic materials company’s stock valued at $253,000 after acquiring an additional 248 shares in the last quarter. Institutional investors own 97.29% of the company’s stock.

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.