Minerals Technologies Inc. (NYSE:MTX – Get Free Report) announced a dividend on Wednesday, October 16th, NASDAQ reports. Investors of record on Thursday, October 31st will be paid a dividend of 0.11 per share by the basic materials company on Thursday, December 5th. The ex-dividend date is Thursday, October 31st.
Minerals Technologies has increased its dividend by an average of 7.7% annually over the last three years. Minerals Technologies has a dividend payout ratio of 5.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Minerals Technologies to earn $7.03 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 5.7%.
Minerals Technologies Trading Up 2.9 %
Shares of NYSE MTX traded up $2.31 during midday trading on Thursday, reaching $80.62. 269,178 shares of the stock were exchanged, compared to its average volume of 160,673. The company has a 50 day simple moving average of $74.39 and a 200 day simple moving average of $78.04. The stock has a market capitalization of $2.60 billion, a P/E ratio of 27.62 and a beta of 1.30. Minerals Technologies has a twelve month low of $49.83 and a twelve month high of $90.29. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.72 and a current ratio of 2.46.
Analysts Set New Price Targets
Separately, StockNews.com raised Minerals Technologies from a “hold” rating to a “buy” rating in a research report on Friday, October 11th.
Read Our Latest Research Report on MTX
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.
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