Minerals Technologies Inc. (NYSE:MTX) to Issue Dividend Increase - $0.12 Per Share

Key Points

• Minerals Technologies Inc. announced a dividend increase of $0.12 per share effective December 4th, 2023, reflecting a 9.1% rise from the previous dividend of $0.11.
• The company boasts a dividend payout ratio of 6.9%, indicating that its dividends are well-covered by earnings, with expectations of $7.54 earnings per share next year.
• Minerals Technologies' stock recently opened at $60.34 with a market capitalization of $1.89 billion and has received mixed ratings from analysts with a consensus target price of $84.00.

Minerals Technologies Inc. (NYSE:MTX - Get Free Report) declared a quarterly dividend on Wednesday, October 15th. Shareholders of record on Thursday, October 30th will be given a dividend of 0.12 per share by the basic materials company on Thursday, December 4th. This represents a c) dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Thursday, October 30th. This is a 9.1% increase from Minerals Technologies's previous quarterly dividend of $0.11.

Minerals Technologies has a dividend payout ratio of 6.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Minerals Technologies to earn $7.54 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 5.8%.

Minerals Technologies Stock Up 1.4%

MTX stock opened at $60.34 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.95 and a quick ratio of 1.35. The stock has a market capitalization of $1.89 billion, a P/E ratio of 1,005.80 and a beta of 1.23. The business has a 50-day moving average of $62.17 and a 200-day moving average of $58.87. Minerals Technologies has a fifty-two week low of $49.54 and a fifty-two week high of $86.49.

Minerals Technologies (NYSE:MTX - Get Free Report) last posted its quarterly earnings data on Wednesday, March 15th. The basic materials company reported $1.50 earnings per share for the quarter. The company had revenue of $557.00 million during the quarter. Minerals Technologies had a return on equity of 10.64% and a net margin of 0.10%. On average, sell-side analysts anticipate that Minerals Technologies will post 6.62 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Minerals Technologies in a research report on Wednesday, October 8th. Wall Street Zen raised Minerals Technologies from a "buy" rating to a "strong-buy" rating in a research report on Friday, October 3rd. Finally, Truist Financial upped their price objective on Minerals Technologies from $80.00 to $84.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Minerals Technologies presently has an average rating of "Hold" and a consensus target price of $84.00.

About Minerals Technologies

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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