Minerals Technologies Inc. (MTX) Plans Quarterly Dividend of $0.05
Minerals Technologies Inc. (NYSE:MTX) announced a quarterly dividend on Wednesday, July 19th, RTT News reports. Stockholders of record on Friday, August 25th will be paid a dividend of 0.05 per share by the basic materials company on Thursday, September 7th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.27%.
Minerals Technologies has a payout ratio of 4.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Minerals Technologies to earn $5.14 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 3.9%.
Shares of Minerals Technologies (NYSE MTX) traded up 0.81% during midday trading on Wednesday, hitting $74.65. 5,478 shares of the stock were exchanged. Minerals Technologies has a 52-week low of $63.55 and a 52-week high of $83.85. The firm’s 50-day moving average is $73.02 and its 200 day moving average is $75.81. The firm has a market cap of $2.62 billion, a PE ratio of 19.70 and a beta of 2.21.
Minerals Technologies (NYSE:MTX) last released its earnings results on Thursday, May 4th. The basic materials company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.03. Minerals Technologies had a return on equity of 15.44% and a net margin of 8.21%. The business had revenue of $405 million during the quarter, compared to the consensus estimate of $401.63 million. During the same period last year, the company earned $1.02 earnings per share. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. On average, analysts forecast that Minerals Technologies will post $4.72 earnings per share for the current year.
MTX has been the subject of several research analyst reports. Zacks Investment Research upgraded Minerals Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday, March 21st. J P Morgan Chase & Co upgraded Minerals Technologies from a “neutral” rating to an “overweight” rating and set a $80.00 target price for the company in a research report on Friday, March 24th. They noted that the move was a valuation call. Finally, BidaskClub downgraded Minerals Technologies from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 17th.
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Minerals Technologies Company Profile
Minerals Technologies Inc is a resource- and technology-based company that develops, produces and markets a range of specialty mineral, mineral-based and synthetic mineral products and supporting systems and services around the world. It operates through five segments. The Specialty Minerals produces and sells the synthetic mineral product precipitated calcium carbonate (PCC) and processed mineral product quicklime (lime).
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