Minerals Technologies Inc. (MTX) to Distribute Quarterly Dividend of $0.13 on December 3rd

Minerals Technologies Inc. (NYSE:MTX) announced a quarterly dividend on Wednesday, October 21st. Shareholders of record on Thursday, November 5th will be given a dividend of $0.13 per share by the basic materials company on Thursday, December 3rd. This represents a $0.52 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Thursday, November 5th. This is a 8.3% increase from Minerals Technologies’s previous quarterly dividend of $0.12.

Minerals Technologies has raised its dividend 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% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Minerals Technologies to earn $6.90 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 7.0%.

Minerals Technologies Stock Performance

Shares of Minerals Technologies stock opened at $63.95 on Friday. The firm has a fifty day moving average of $67.90 and a two-hundred day moving average of $72.57. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of 10.90 and a beta of 1.12. Minerals Technologies has a 52 week low of $53.94 and a 52 week high of $84.34. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.00 and a current ratio of 1.43.

Minerals Technologies (NYSE:MTX) last posted its quarterly earnings results on Thursday, July 30th. The basic materials company reported $1.60 earnings per share for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.04). Minerals Technologies had a negative net margin of 3.13% and a positive return on equity of 10.63%. The company had revenue of $548.40 million during the quarter, compared to analyst estimates of $558.77 million. During the same period last year, the company earned $1.55 EPS. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, equities research analysts predict that Minerals Technologies will post 5.84 EPS for the current year.

About Minerals Technologies

Minerals Technologies Inc (NYSE: MTX) is a global specialty minerals and materials company that develops, produces and markets mineral-based products and engineered solutions for industrial and consumer applications. Its products are used in industries including paper and packaging, construction, environmental services, agriculture, food, personal care and automotive manufacturing.

The company supplies materials such as precipitated calcium carbonate, talc, bentonite, perlite and other specialty minerals.