Minerals Technologies Inc. (NYSE:MTX – Free Report) – Equities research analysts at Seaport Res Ptn reduced their Q2 2023 earnings per share estimates for shares of Minerals Technologies in a research report issued on Wednesday, July 19th. Seaport Res Ptn analyst M. Harrison now anticipates that the basic materials company will earn $1.27 per share for the quarter, down from their previous estimate of $1.30. The consensus estimate for Minerals Technologies’ current full-year earnings is $5.20 per share. Seaport Res Ptn also issued estimates for Minerals Technologies’ Q3 2023 earnings at $1.37 EPS, Q4 2023 earnings at $1.33 EPS, FY2023 earnings at $5.11 EPS and FY2024 earnings at $6.18 EPS.
Separately, StockNews.com began coverage on Minerals Technologies in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Four investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $70.00.
Minerals Technologies Stock Performance
NYSE MTX opened at $55.93 on Thursday. The company has a fifty day moving average of $56.75 and a two-hundred day moving average of $59.75. The company has a market capitalization of $1.82 billion, a PE ratio of 15.84 and a beta of 1.29. Minerals Technologies has a 1 year low of $49.38 and a 1 year high of $73.57. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.17 and a quick ratio of 1.45.
Minerals Technologies (NYSE:MTX – Get Free Report) last announced its quarterly earnings results on Thursday, April 27th. The basic materials company reported $1.14 EPS for the quarter, beating the consensus estimate of $1.05 by $0.09. Minerals Technologies had a net margin of 5.36% and a return on equity of 9.53%. The company had revenue of $546.00 million for the quarter, compared to analyst estimates of $527.73 million. During the same period in the prior year, the firm posted $1.36 earnings per share. The firm’s revenue was up 5.2% on a year-over-year basis.
Institutional Trading of Mineral Technologies
Several institutional investors and hedge funds have recently added to or reduced their stakes in MTX. Morgan Stanley grew its position in Minerals Technologies by 395.5% in the 4th quarter. Morgan Stanley now owns 1,334,204 shares of the basic materials company’s stock valued at $81,013,000 after buying an additional 1,064,915 shares during the last quarter. Franklin Resources Inc. raised its holdings in Minerals Technologies by 39.8% during the fourth quarter. Franklin Resources Inc. now owns 1,708,730 shares of the basic materials company’s stock worth $103,754,000 after purchasing an additional 486,682 shares in the last quarter. Vanguard Group Inc. lifted its position in Minerals Technologies by 10.5% in the third quarter. Vanguard Group Inc. now owns 3,585,400 shares of the basic materials company’s stock valued at $177,155,000 after purchasing an additional 341,092 shares during the period. Norges Bank acquired a new stake in Minerals Technologies in the fourth quarter valued at about $20,001,000. Finally, Victory Capital Management Inc. boosted its holdings in Minerals Technologies by 25.8% in the 1st quarter. Victory Capital Management Inc. now owns 1,536,106 shares of the basic materials company’s stock valued at $92,812,000 after purchasing an additional 314,792 shares in the last quarter. 95.80% of the stock is owned by hedge funds and other institutional investors.
Minerals Technologies Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Friday, August 18th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.36%. The ex-dividend date is Thursday, August 17th. Minerals Technologies’ dividend payout ratio (DPR) is presently 5.67%.
About Minerals Technologies
(Get Free Report)
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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