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Minerals Technologies Inc. Expected to Earn Q3 2022 Earnings of $1.41 Per Share (NYSE:MTX)

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Minerals Technologies Inc. (NYSE:MTX – Get Rating) – Analysts at Seaport Res Ptn dropped their Q3 2022 EPS estimates for shares of Minerals Technologies in a report issued on Wednesday, September 14th. Seaport Res Ptn analyst M. Harrison now anticipates that the basic materials company will post earnings of $1.41 per share for the quarter, down from their previous estimate of $1.44. The consensus estimate for Minerals Technologies' current full-year earnings is $5.58 per share.

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Minerals Technologies (NYSE:MTX – Get Rating) last posted its quarterly earnings data on Thursday, July 28th. The basic materials company reported $1.50 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $533.65 million. During the same quarter in the previous year, the firm posted $1.29 EPS. The business's revenue for the quarter was up 26.5% compared to the same quarter last year.

Several other equities analysts have also recently issued reports on MTX. CL King cut shares of Minerals Technologies from a "buy" rating to a "neutral" rating in a research report on Tuesday, August 30th. StockNews.com lowered shares of Minerals Technologies from a "buy" rating to a "hold" rating in a research note on Tuesday, June 28th.

Minerals Technologies Price Performance

MTX stock opened at $55.17 on Friday. The company has a 50 day simple moving average of $62.36 and a 200 day simple moving average of $63.57. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of 10.73 and a beta of 1.28. Minerals Technologies has a 1 year low of $54.61 and a 1 year high of $79.03. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.29 and a quick ratio of 1.56.

Minerals Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Friday, August 19th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date was Thursday, August 18th. Minerals Technologies's dividend payout ratio (DPR) is 3.89%.

Insider Activity

In other news, VP Michael Cipolla sold 6,356 shares of the stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $64.27, for a total value of $408,500.12. Following the completion of the sale, the vice president now owns 32,286 shares in the company, valued at $2,075,021.22. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Jonathan J. Hastings sold 11,739 shares of the firm's stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $65.67, for a total transaction of $770,900.13. Following the completion of the sale, the insider now owns 44,468 shares in the company, valued at $2,920,213.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Michael Cipolla sold 6,356 shares of Minerals Technologies stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $64.27, for a total transaction of $408,500.12. Following the completion of the transaction, the vice president now owns 32,286 shares of the company's stock, valued at approximately $2,075,021.22. The disclosure for this sale can be found here. Insiders sold a total of 54,067 shares of company stock worth $3,404,799 over the last quarter. Insiders own 3.20% of the company's stock.

Hedge Funds Weigh In On Minerals Technologies

Large investors have recently modified their holdings of the company. Ellevest Inc. increased its stake 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 worth $30,000 after buying an additional 209 shares during the period. Pinebridge Investments L.P. increased its stake in shares of Minerals Technologies by 389.0% in the second quarter. Pinebridge Investments L.P. now owns 489 shares of the basic materials company's stock worth $30,000 after buying an additional 389 shares during the period. Lazard Asset Management LLC purchased a new position in shares of Minerals Technologies in the second quarter worth $37,000. Washington Trust Advisors Inc. purchased a new position in Minerals Technologies during the 2nd quarter valued at $49,000. Finally, Quantbot Technologies LP boosted its holdings in shares of Minerals Technologies by 126.1% during the 2nd quarter. Quantbot Technologies LP now owns 997 shares of the basic materials company's stock valued at $61,000 after buying an additional 556 shares in the last quarter. 96.13% of the stock is currently owned by institutional investors.

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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