Wall Street analysts forecast that Minerals Technologies Inc. (NYSE:MTX) will post earnings of $1.07 per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Minerals Technologies’ earnings, with the lowest EPS estimate coming in at $1.04 and the highest estimate coming in at $1.09. Minerals Technologies posted earnings per share of $1.13 during the same quarter last year, which indicates a negative year-over-year growth rate of 5.3%. The business is expected to report its next quarterly earnings report after the market closes on Thursday, May 6th.
On average, analysts expect that Minerals Technologies will report full year earnings of $4.58 per share for the current fiscal year, with EPS estimates ranging from $4.40 to $4.75. For the next financial year, analysts anticipate that the firm will post earnings of $5.05 per share, with EPS estimates ranging from $4.80 to $5.40. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that that provide coverage for Minerals Technologies.
Minerals Technologies (NYSE:MTX) last posted its quarterly earnings results on Thursday, February 4th. The basic materials company reported $1.08 EPS for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.13. Minerals Technologies had a return on equity of 9.20% and a net margin of 6.88%. The firm had revenue of $431.80 million during the quarter, compared to analyst estimates of $396.91 million.
A number of equities research analysts recently issued reports on the company. CL King increased their price objective on Minerals Technologies from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, January 22nd. Zacks Investment Research upgraded Minerals Technologies from a “hold” rating to a “buy” rating and set a $84.00 price target on the stock in a research report on Wednesday, March 31st. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Minerals Technologies has an average rating of “Buy” and an average price target of $71.75.
Shares of MTX stock traded up $0.36 on Tuesday, reaching $79.41. The company’s stock had a trading volume of 167,301 shares, compared to its average volume of 137,065. The company has a quick ratio of 2.91, a current ratio of 3.85 and a debt-to-equity ratio of 0.69. Minerals Technologies has a 12-month low of $39.43 and a 12-month high of $81.89. The company has a market capitalization of $2.68 billion, a P/E ratio of 24.70, a PEG ratio of 3.30 and a beta of 1.47. The stock’s 50 day simple moving average is $77.47 and its 200-day simple moving average is $67.56.
In other news, SVP Douglas W. Mayger sold 24,500 shares of the firm’s stock in a transaction dated Tuesday, February 16th. The stock was sold at an average price of $68.36, for a total transaction of $1,674,820.00. Following the transaction, the senior vice president now directly owns 51,235 shares of the company’s stock, valued at $3,502,424.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Michael Cipolla sold 6,246 shares of the firm’s stock in a transaction dated Wednesday, February 24th. The stock was sold at an average price of $72.36, for a total value of $451,960.56. Following the completion of the sale, the vice president now directly owns 36,620 shares in the company, valued at $2,649,823.20. The disclosure for this sale can be found here. Insiders have sold 44,361 shares of company stock worth $3,113,596 in the last 90 days. Company insiders own 2.80% of the company’s stock.
A number of institutional investors have recently bought and sold shares of MTX. FMR LLC lifted its holdings in shares of Minerals Technologies by 426,500.0% during the first quarter. FMR LLC now owns 8,532 shares of the basic materials company’s stock valued at $501,000 after purchasing an additional 8,530 shares during the last quarter. First Trust Advisors LP raised its holdings in Minerals Technologies by 4.2% in the 1st quarter. First Trust Advisors LP now owns 33,348 shares of the basic materials company’s stock worth $1,961,000 after acquiring an additional 1,348 shares during the last quarter. Sei Investments Co. raised its holdings in Minerals Technologies by 21.1% in the 3rd quarter. Sei Investments Co. now owns 37,951 shares of the basic materials company’s stock worth $1,939,000 after acquiring an additional 6,618 shares during the last quarter. Denali Advisors LLC raised its holdings in Minerals Technologies by 73.0% in the 4th quarter. Denali Advisors LLC now owns 20,937 shares of the basic materials company’s stock worth $1,301,000 after acquiring an additional 8,837 shares during the last quarter. Finally, California Public Employees Retirement System raised its holdings in Minerals Technologies by 4.9% in the 4th quarter. California Public Employees Retirement System now owns 84,658 shares of the basic materials company’s stock worth $5,259,000 after acquiring an additional 3,992 shares during the last quarter. 94.75% of the stock is currently owned by institutional investors and hedge funds.
About Minerals Technologies
Minerals Technologies Inc develops, produces, and markets various specialty mineral, mineral-based, and synthetic mineral products, and supporting systems and services. The company's Performance Materials segment supplies bentonite and bentonite-related products, as well as chromite and leonardite.
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