Minerals Technologies Inc. (NYSE:MTX – Get Rating) – Analysts at Seaport Res Ptn cut their FY2022 EPS estimates for Minerals Technologies in a research report issued on Wednesday, September 14th. Seaport Res Ptn analyst M. Harrison now anticipates that the basic materials company will post earnings of $5.56 per share for the year, down from their prior estimate of $5.67. The consensus estimate for Minerals Technologies' current full-year earnings is $5.52 per share. Seaport Res Ptn also issued estimates for Minerals Technologies' Q4 2022 earnings at $1.30 EPS and FY2023 earnings at $6.21 EPS.
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Minerals Technologies (NYSE:MTX – Get Rating) last announced its quarterly earnings results on Thursday, July 28th. The basic materials company reported $1.50 earnings per share for the quarter, beating analysts' consensus estimates of $1.46 by $0.04. Minerals Technologies had a net margin of 8.46% and a return on equity of 11.44%. The firm had revenue of $577.00 million for the quarter, compared to analyst estimates of $533.65 million. During the same quarter in the previous year, the firm posted $1.29 earnings per share. The business's revenue was up 26.5% on a year-over-year basis.
A number of other analysts also recently issued reports on MTX. StockNews.com downgraded shares of Minerals Technologies from a "buy" rating to a "hold" rating in a report on Tuesday, June 28th. CL King downgraded shares of Minerals Technologies from a "buy" rating to a "neutral" rating in a report on Tuesday, August 30th.
Minerals Technologies Stock Performance
Shares of MTX opened at $55.17 on Monday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.56 and a current ratio of 2.29. Minerals Technologies has a twelve month low of $54.61 and a twelve month high of $79.03. The firm has a market cap of $1.80 billion, a P/E ratio of 10.73 and a beta of 1.28. The firm's 50 day moving average price is $62.36 and its two-hundred day moving average price is $63.48.
Minerals Technologies Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Friday, August 19th were issued a dividend of $0.05 per share. The ex-dividend date was Thursday, August 18th. This represents a $0.20 dividend on an annualized basis and a yield of 0.36%. Minerals Technologies's payout ratio is 3.89%.
Insider Buying and Selling
In related news, CEO Douglas T. Dietrich sold 16,299 shares of the business's stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $60.06, for a total transaction of $978,917.94. Following the transaction, the chief executive officer now directly owns 118,265 shares in the company, valued at $7,102,995.90. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Douglas T. Dietrich sold 16,299 shares of the business's stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $60.06, for a total transaction of $978,917.94. Following the transaction, the chief executive officer now directly owns 118,265 shares in the company, valued at $7,102,995.90. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Michael Cipolla sold 6,356 shares of the business's stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $64.27, for a total transaction of $408,500.12. Following the transaction, the vice president now owns 32,286 shares in the company, valued at $2,075,021.22. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,067 shares of company stock worth $3,404,799. Insiders own 3.20% of the company's stock.
Hedge Funds Weigh In On Minerals Technologies
Several institutional investors and hedge funds have recently modified their holdings of the stock. Verdence Capital Advisors LLC increased its holdings in shares of Minerals Technologies by 6.2% in the first quarter. Verdence Capital Advisors LLC now owns 3,532 shares of the basic materials company's stock valued at $234,000 after purchasing an additional 207 shares during the last quarter. Ellevest Inc. increased its holdings in shares of Minerals Technologies by 74.9% in the second quarter. Ellevest Inc. now owns 488 shares of the basic materials company's stock valued at $30,000 after purchasing an additional 209 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Minerals Technologies by 3.3% in the second quarter. Bank of Montreal Can now owns 6,827 shares of the basic materials company's stock valued at $423,000 after purchasing an additional 219 shares during the last quarter. Texas Permanent School Fund increased its holdings in shares of Minerals Technologies by 1.0% in the second quarter. Texas Permanent School Fund now owns 23,828 shares of the basic materials company's stock valued at $1,462,000 after purchasing an additional 225 shares during the last quarter. Finally, Xponance Inc. increased its holdings in shares of Minerals Technologies by 4.9% in the second quarter. Xponance Inc. now owns 5,109 shares of the basic materials company's stock valued at $313,000 after purchasing an additional 240 shares during the last quarter. 96.13% of the stock is currently owned by institutional investors and hedge funds.
About Minerals Technologies
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Minerals Technologies Inc develops, produces, and markets various specialty mineral, mineral-based, and synthetic mineral products, and supporting systems and services. The company operates through three segments: Performance Materials, Specialty Minerals and Refractories. The Performance Materials segment supplies bentonite and bentonite-related products, as well as leonardite.
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