Minerals Technologies Inc. (MTX) To Go Ex-Dividend on August 14th

Minerals Technologies Inc. (NYSE:MTX) announced a quarterly dividend on Wednesday, July 22nd. Stockholders of record on Friday, August 14th will be given a dividend of 0.12 per share by the basic materials company on Friday, September 4th. This represents a c) annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, August 14th.

Minerals Technologies has increased its dividend by an average of 0.2%annually over the last three years and has raised 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 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 Stock Down 2.0%

Shares of NYSE MTX opened at $73.09 on Friday. The company has a 50 day simple moving average of $75.80 and a 200-day simple moving average of $72.38. The company has a market capitalization of $2.27 billion, a P/E ratio of 14.14 and a beta of 1.15. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.13 and a quick ratio of 1.47. Minerals Technologies has a 1 year low of $53.94 and a 1 year high of $84.34.

Minerals Technologies (NYSE:MTX) last released its quarterly earnings results on Thursday, April 30th. The basic materials company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.26 by $0.12. The firm 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%. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.14 EPS. On average, equities research analysts predict that Minerals Technologies will post 6.34 earnings per share for the current year.

Insiders Place Their Bets

In other Minerals Technologies news, VP Timothy Jordan sold 6,000 shares of Minerals Technologies stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $80.27, for a total value of $481,620.00. Following the completion of the transaction, the vice president directly owned 1,279 shares of the company’s stock, valued at $102,665.33. The trade was a 82.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 3.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MTX. EverSource Wealth Advisors LLC lifted its holdings in Minerals Technologies by 626.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 596 shares of the basic materials company’s stock worth $33,000 after buying an additional 514 shares in the last quarter. Parallel Advisors LLC grew its stake in shares of Minerals Technologies by 36.0% in the first quarter. Parallel Advisors LLC now owns 552 shares of the basic materials company’s stock worth $39,000 after acquiring an additional 146 shares in the last quarter. Torren Management LLC purchased a new stake in shares of Minerals Technologies during the fourth quarter worth $50,000. Danske Bank A S purchased a new stake in shares of Minerals Technologies during the third quarter worth $56,000. Finally, Versant Capital Management Inc raised its stake in shares of Minerals Technologies by 87.3% in the second quarter. Versant Capital Management Inc now owns 798 shares of the basic materials company’s stock valued at $59,000 after acquiring an additional 372 shares in the last quarter. Institutional investors and hedge funds own 97.29% of the company’s stock.

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.