Minerals Technologies Inc. (MTX) To Go Ex-Dividend on May 30th

Minerals Technologies Inc. (NYSE:MTX) announced a quarterly dividend on Tuesday, May 13th, RTT News reports. Shareholders of record on Friday, May 30th will be paid a dividend of 0.11 per share by the basic materials company on Thursday, June 12th. This represents a $0.44 annualized dividend and a yield of 0.76%. The ex-dividend date is Friday, May 30th.

Minerals Technologies has increased its dividend payment by an average of 27.0% per year over the last three years and has increased its dividend annually for the last 2 consecutive years. Minerals Technologies has a payout ratio of 6.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Minerals Technologies to earn $7.54 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 5.8%.

Minerals Technologies Stock Performance

NYSE MTX opened at $57.97 on Thursday. The stock has a market cap of $1.84 billion, a PE ratio of 11.19 and a beta of 1.22. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.98 and a current ratio of 2.84. The firm has a 50-day moving average of $59.20 and a 200-day moving average of $70.43. Minerals Technologies has a 52-week low of $49.54 and a 52-week high of $90.30.

Minerals Technologies (NYSE:MTX) last released its quarterly earnings results on Thursday, April 24th. The basic materials company reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.02). The firm had revenue of $491.80 million during the quarter, compared to the consensus estimate of $502.03 million. Minerals Technologies had a net margin of 7.89% and a return on equity of 11.49%. The business’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.49 earnings per share. On average, sell-side analysts anticipate that Minerals Technologies will post 6.62 EPS for the current year.

Insider Activity

In other Minerals Technologies news, CFO Erik Aldag acquired 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 30th. The stock was acquired at an average cost of $50.37 per share, for a total transaction of $50,370.00. Following the transaction, the chief financial officer now directly owns 4,245 shares in the company, valued at $213,820.65. This represents a 30.82% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 3.50% of the company’s stock.

Wall Street Analysts Forecast Growth

MTX has been the topic of a number of analyst reports. Truist Financial decreased their target price on shares of Minerals Technologies from $92.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, April 28th. StockNews.com lowered Minerals Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, April 9th.

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.