Minerals Technologies (MTX) Declares $0.05 Dividend
Minerals Technologies said on May 16, 2023 that its board of directors declared a regular quarterly dividend of $0.05 per share ($0.20 annualized). Previously, the company paid $0.05 per share.
Shares must be purchased before the ex-div date of May 31, 2023 to qualify for the dividend. Shareholders of record as of June 1, 2023 will receive the payment on June 15, 2023.
At the current share price of $59.06 / 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=235).
The current dividend yield is 0.01 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.06. 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.
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What is the Fund Sentiment?
There are 553 funds or institutions reporting positions in Minerals Technologies. This is a decrease of 58 owner(s) or 9.49% in the last quarter. Average portfolio weight of all funds dedicated to MTX is 0.17%, an increase of 14.54%. Total shares owned by institutions decreased in the last three months by 2.08% to 41,568K shares. 
The put/call ratio of MTX is 1.12, indicating a bearish outlook.
Analyst Price Forecast Suggests 36.44% Upside
As of May 11, 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 36.44% from its latest reported closing price of 59.06.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Minerals Technologies is 2,233MM, an increase of 3.74%. The projected annual non-GAAP EPS is 5.87.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 2,405K shares representing 7.39% ownership of the company. In it's prior filing, the firm reported owning 2,384K shares, representing an increase of 0.87%. The firm increased its portfolio allocation in MTX by 12.78% 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 decreased its portfolio allocation in MTX by 21.47% over the last quarter.
Victory Capital Management holds 1,536K shares representing 4.72% ownership of the company. In it's prior filing, the firm reported owning 1,221K shares, representing an increase of 20.49%. The firm decreased its portfolio allocation in MTX by 23.94% over the last quarter.
DCCAX - Delaware Small Cap Core Fund holds 1,418K shares representing 4.36% ownership of the company. In it's prior filing, the firm reported owning 1,390K shares, representing an increase of 1.97%. The firm increased its portfolio allocation in MTX by 0.70% over the last quarter.
FRVLX - Franklin Small Cap Value Fund holds 1,263K shares representing 3.88% ownership of the company. In it's prior filing, the firm reported owning 839K shares, representing an increase of 33.54%. The firm increased its portfolio allocation in MTX by 77.76% 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.
Key filings for this company:
This story originally appeared on Fintel.