Minerals Technologies Inc. (MTX) To Go Ex-Dividend on October 31st

Minerals Technologies Inc. (NYSE:MTX) declared a dividend on Wednesday, October 16th, NASDAQ reports. Shareholders 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 of this dividend 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. Equities 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 Price Performance

Shares of NYSE MTX opened at $80.62 on Friday. The stock has a market capitalization of $2.60 billion, a PE ratio of 27.90 and a beta of 1.30. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.46 and a quick ratio of 1.72. The business has a fifty day moving average price of $74.59 and a two-hundred day moving average price of $78.05. Minerals Technologies has a fifty-two week low of $49.83 and a fifty-two week high of $90.29.

Minerals Technologies (NYSE:MTX) last issued its quarterly earnings results on Thursday, July 25th. The basic materials company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.05. Minerals Technologies had a return on equity of 11.46% and a net margin of 4.05%. The company had revenue of $541.20 million for the quarter, compared to analyst estimates of $561.60 million. During the same quarter last year, the company posted $1.31 EPS. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. As a group, equities analysts predict that Minerals Technologies will post 6.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Minerals Technologies from a “hold” rating to a “buy” rating in a research note on Friday, October 11th.

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.