Minerals Technologies Inc. (NYSE:MTX) Raises Dividend to $0.13 Per Share

Minerals Technologies Inc. (NYSE:MTX) announced a quarterly dividend on Wednesday, October 21st. Stockholders of record on Thursday, November 5th will be paid a dividend of $0.13 per share by the basic materials company on Thursday, December 3rd. This represents a $0.52 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Thursday, November 5th. This is a 8.3% increase from Minerals Technologies’s previous quarterly dividend of $0.12.

Minerals Technologies has raised its dividend payment by an average of 0.2% annually over the last three years and has increased its dividend annually for the last 2 consecutive years. Minerals Technologies has a dividend payout ratio of 7.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Minerals Technologies to earn $6.90 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 7.0%.

Minerals Technologies Stock Performance

Shares of NYSE:MTX traded up $0.41 during trading on Thursday, hitting $63.65. 10,913 shares of the stock were exchanged, compared to its average volume of 208,785. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of -29.32 and a beta of 1.12. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.00 and a current ratio of 1.43. Minerals Technologies has a 1-year low of $53.94 and a 1-year high of $84.34. The company’s fifty day simple moving average is $68.08 and its 200-day simple moving average is $72.60.

Minerals Technologies (NYSE:MTX) last issued its earnings results on Thursday, July 30th. The basic materials company reported $1.60 EPS for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.04). The firm had revenue of $548.40 million during the quarter, compared to analyst estimates of $558.77 million. Minerals Technologies had a negative net margin of 3.13% and a positive return on equity of 10.63%. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.55 earnings per share. Sell-side analysts expect that Minerals Technologies will post 5.84 EPS for the current fiscal year.

Minerals Technologies Company Profile

Minerals Technologies Inc (NYSE: MTX) is a global specialty minerals and materials company that develops, produces and markets mineral-based products and engineered solutions for industrial and consumer applications. Its products are used in industries including paper and packaging, construction, environmental services, agriculture, food, personal care and automotive manufacturing.

The company supplies materials such as precipitated calcium carbonate, talc, bentonite, perlite and other specialty minerals.