Minerals Technologies Inc. (NYSE:MTX) Declares $0.11 Quarterly Dividend

Minerals Technologies Inc. (NYSE:MTX) announced a quarterly dividend on Wednesday, January 22nd,RTT News reports. Investors of record on Friday, February 14th will be given a dividend of 0.11 per share by the basic materials company on Friday, March 7th. This represents a $0.44 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend is Friday, February 14th.

Minerals Technologies has raised its dividend payment by an average of 27.0% annually over the last three years. Minerals Technologies has a dividend payout ratio of 5.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Minerals Technologies to earn $7.81 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 5.6%.

Minerals Technologies Price Performance

Shares of MTX stock opened at $73.58 on Wednesday. The firm has a market cap of $2.35 billion, a P/E ratio of 14.20 and a beta of 1.30. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.46 and a quick ratio of 1.72. Minerals Technologies has a 1-year low of $68.29 and a 1-year high of $90.29. The firm has a fifty day moving average of $76.58 and a two-hundred day moving average of $76.50.

Minerals Technologies (NYSE:MTX) last announced its quarterly earnings data on Thursday, February 6th. The basic materials company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.11. Minerals Technologies had a net margin of 7.89% and a return on equity of 11.61%. As a group, research analysts anticipate that Minerals Technologies will post 6.81 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Truist Financial decreased their price objective on shares of Minerals Technologies from $103.00 to $101.00 and set a “buy” rating for the company in a report on Monday. StockNews.com raised shares of Minerals Technologies from a “hold” rating to a “buy” rating in a report on Thursday, February 6th.

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.