Fintel reports that on July 31, 2023, CL King upgraded their outlook for Minerals Technologies (NYSE:MTX) from Neutral to Buy .
Analyst Price Forecast Suggests 35.52% Upside
As of July 6, 2023, the average one-year price target for Minerals Technologies is 80.58. The forecasts range from a low of 70.70 to a high of $92.40. The average price target represents an increase of 35.52% from its latest reported closing price of 59.46.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Minerals Technologies is 2,233MM, an increase of 4.01%. The projected annual non-GAAP EPS is 5.87.
Minerals Technologies Declares $0.05 Dividend
On May 16, 2023 the company declared a regular quarterly dividend of $0.05 per share ($0.20 annualized). Shareholders of record as of June 1, 2023 received the payment on June 15, 2023. Previously, the company paid $0.05 per share.
At the current share price of $59.46 / share, the stock's dividend yield is 0.34%.
Looking back five years and taking a sample every week, the average dividend yield has been 0.34%, the lowest has been 0.23%, and the highest has been 0.66%. The standard deviation of yields is 0.07 (n=234).
The current dividend yield is 0.07 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.07. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
What is the Fund Sentiment?
There are 524 funds or institutions reporting positions in Minerals Technologies. This is a decrease of 34 owner(s) or 6.09% in the last quarter. Average portfolio weight of all funds dedicated to MTX is 0.16%, a decrease of 4.01%. Total shares owned by institutions decreased in the last three months by 4.46% to 41,249K shares. 
The put/call ratio of MTX is 1.04, indicating a bearish outlook.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 2,367K shares representing 7.27% ownership of the company. In it's prior filing, the firm reported owning 2,405K shares, representing a decrease of 1.60%. The firm decreased its portfolio allocation in MTX by 4.84% over the last quarter.
Macquarie Group holds 1,903K shares representing 5.85% ownership of the company. In it's prior filing, the firm reported owning 1,874K shares, representing an increase of 1.50%. The firm increased its portfolio allocation in MTX by 1.61% over the last quarter.
Victory Capital Management holds 1,633K shares representing 5.02% ownership of the company. In it's prior filing, the firm reported owning 1,536K shares, representing an increase of 5.92%. The firm decreased its portfolio allocation in MTX by 39.03% over the last quarter.
DCCAX - Delaware Small Cap Core Fund holds 1,427K shares representing 4.39% ownership of the company. In it's prior filing, the firm reported owning 1,418K shares, representing an increase of 0.68%. The firm increased its portfolio allocation in MTX by 2.06% over the last quarter.
SSGSX - Victory Sycamore Small Company Opportunity Fund holds 1,143K shares representing 3.51% ownership of the company. In it's prior filing, the firm reported owning 876K shares, representing an increase of 23.37%. The firm increased its portfolio allocation in MTX by 20.55% over the last quarter.
Minerals Technologies Background Information
(This description is provided by the company.)
New York-based Minerals Technologies Inc. is a global resource- and technology-based company that develops, produces and markets a broad range of specialty mineral, mineral-based and synthetic mineral products and related systems and services. MTI serves the paper, foundry, steel, construction, environmental, energy, polymer and consumer products industries. The company reported sales of $1.6 billion in 2020.
Additional reading:
- Section 104(a) S&S
- RISK FACTORS
- Minerals Technologies Reports Second Quarter 2023 Earnings Per Share of $0.82, or $1.31 Excluding Special Items Company Initiated a Restructuring and Cost Savings Program
- Minerals Technologies Declares Quarterly Dividend
- Minerals Technologies Declares Quarterly Dividend
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
