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

Minerals Technologies Inc. (NYSE:MTX - Get Free Report) declared a quarterly dividend on Wednesday, July 16th, RTT News reports. Stockholders of record on Friday, August 15th will be paid a dividend of 0.11 per share by the basic materials company on Friday, September 5th. This represents a $0.44 annualized dividend and a dividend yield of 0.77%.

Minerals Technologies has a dividend payout ratio of 6.9% meaning its dividend is sufficiently covered by earnings. 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 Performance

Shares of NYSE MTX traded up $0.08 during trading on Wednesday, reaching $57.01. The stock had a trading volume of 259,347 shares, compared to its average volume of 197,064. The stock has a market cap of $1.81 billion, a PE ratio of -74.03 and a beta of 1.20. Minerals Technologies has a one year low of $49.54 and a one year high of $90.30. The firm's 50 day moving average price is $57.22 and its two-hundred day moving average price is $63.56. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.31 and a current ratio of 1.89.

Minerals Technologies (NYSE:MTX - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The basic materials company reported $1.14 earnings per share for the quarter, missing analysts' consensus estimates of $1.16 by ($0.02). The business had revenue of $491.80 million for the quarter, compared to the consensus estimate of $502.03 million. Minerals Technologies had a negative net margin of 1.14% and a positive return on equity of 10.90%. The business's quarterly revenue was down 8.0% on a year-over-year basis. During the same period last year, the firm posted $1.49 EPS. On average, research analysts forecast that Minerals Technologies will post 6.62 earnings per share for the current fiscal year.

Insider Activity

In other Minerals Technologies news, Director Kristina M. Johnson bought 1,000 shares of Minerals Technologies stock in a transaction dated Friday, May 2nd. The stock was bought at an average price of $53.79 per share, for a total transaction of $53,790.00. Following the completion of the acquisition, the director directly owned 1,400 shares of the company's stock, valued at approximately $75,306. This trade represents a 250.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Erik Aldag bought 1,000 shares of the company's stock in a transaction dated Wednesday, April 30th. The stock was acquired at an average price of $50.37 per share, for a total transaction of $50,370.00. Following the acquisition, the chief financial officer directly owned 4,245 shares in the company, valued at $213,820.65. This trade represents a 30.82% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 2,370 shares of company stock worth $124,255. Corporate insiders own 3.30% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Strs Ohio bought a new position in Minerals Technologies during the first quarter valued at approximately $70,000. Intech Investment Management LLC raised its holdings in Minerals Technologies by 30.5% in the 1st quarter. Intech Investment Management LLC now owns 18,504 shares of the basic materials company's stock worth $1,176,000 after acquiring an additional 4,322 shares during the period. Royal Bank of Canada lifted its position in Minerals Technologies by 28.4% during the 1st quarter. Royal Bank of Canada now owns 19,629 shares of the basic materials company's stock worth $1,249,000 after acquiring an additional 4,337 shares during the last quarter. Jane Street Group LLC lifted its position in shares of Minerals Technologies by 177.6% during the 1st quarter. Jane Street Group LLC now owns 68,156 shares of the basic materials company's stock worth $4,333,000 after purchasing an additional 43,604 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Minerals Technologies by 9.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 110,044 shares of the basic materials company's stock worth $6,995,000 after buying an additional 9,363 shares during the last quarter. Institutional investors and hedge funds own 97.29% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Truist Financial decreased their price objective on shares of Minerals Technologies from $92.00 to $80.00 and set a "buy" rating for the company in a report on Monday, April 28th. Wall Street Zen cut shares of Minerals Technologies from a "buy" rating to a "hold" rating in a research note on Wednesday, April 9th.

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.