Minerals Technologies Inc. (MTX) To Go Ex-Dividend on June 2nd

Minerals Technologies Inc. (NYSE:MTX) declared 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) dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Tuesday, June 2nd.

Minerals Technologies has increased its dividend payment by an average of 0.2%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 7.5% indicating that its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Shares of MTX stock opened at $76.04 on Thursday. Minerals Technologies has a 1 year low of $53.10 and a 1 year high of $84.34. The firm’s 50 day moving average is $72.27 and its 200-day moving average is $66.98. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of 14.71 and a beta of 1.12. The company has a current ratio of 2.13, a quick ratio of 1.47 and a debt-to-equity ratio of 0.54.

Minerals Technologies (NYSE:MTX) last announced its earnings results on Thursday, April 30th. The basic materials company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.12. The company had revenue of $546.90 million for the quarter, compared to analyst estimates of $516.39 million. Minerals Technologies had a net margin of 7.60% and a return on equity of 10.40%. Minerals Technologies’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.14 earnings per share. Sell-side analysts forecast that Minerals Technologies will post 6.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MTX has been the subject of a number of recent research reports. Truist Financial boosted their price target on shares of Minerals Technologies from $89.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Wall Street Zen raised shares of Minerals Technologies from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 2nd. Seaport Research Partners reissued a “buy” rating on shares of Minerals Technologies in a research note on Monday, May 4th. Finally, Weiss Ratings raised shares of Minerals Technologies from a “sell (d+)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Minerals Technologies has an average rating of “Hold” and an average price target of $90.00.

Minerals Technologies Company Profile

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.