Seaport Res Ptn Weighs in on Minerals Technologies Inc.’s Q3 2022 Earnings (NYSE:MTX)

Minerals Technologies Inc. (NYSE:MTXGet Rating) – Equities research analysts at Seaport Res Ptn reduced their Q3 2022 EPS estimates for Minerals Technologies in a research note issued to investors on Monday, August 1st. Seaport Res Ptn analyst M. Harrison now forecasts that the basic materials company will post earnings of $1.44 per share for the quarter, down from their prior estimate of $1.45. The consensus estimate for Minerals Technologies’ current full-year earnings is $5.59 per share.

Separately, downgraded shares of Minerals Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, June 28th.

Minerals Technologies Trading Down 0.2 %

Shares of Minerals Technologies stock opened at $63.53 on Wednesday. The company has a fifty day simple moving average of $63.15 and a 200-day simple moving average of $65.43. Minerals Technologies has a 12-month low of $57.52 and a 12-month high of $81.36. The company has a current ratio of 2.29, a quick ratio of 1.56 and a debt-to-equity ratio of 0.60. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of 12.36 and a beta of 1.27.

Minerals Technologies (NYSE:MTXGet Rating) last released its quarterly earnings results 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 business had revenue of $577.00 million for the quarter, compared to the consensus estimate of $533.65 million. During the same period in the previous year, the firm earned $1.29 EPS. The business’s revenue was up 26.5% on a year-over-year basis.

Minerals Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 9th. Investors of record on Friday, August 19th will be paid a $0.05 dividend. The ex-dividend date is Thursday, August 18th. This represents a $0.20 dividend on an annualized basis and a yield of 0.31%. Minerals Technologies’s payout ratio is 3.89%.

Institutional Investors Weigh In On Minerals Technologies

Several hedge funds have recently modified their holdings of MTX. Allspring Global Investments Holdings LLC purchased a new position in Minerals Technologies in the fourth quarter valued at approximately $29,550,000. Yousif Capital Management LLC acquired a new position in shares of Minerals Technologies during the fourth quarter valued at $1,290,000. Assenagon Asset Management S.A. boosted its holdings in shares of Minerals Technologies by 121.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 45,919 shares of the basic materials company’s stock valued at $3,359,000 after acquiring an additional 25,188 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Minerals Technologies by 45.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,902 shares of the basic materials company’s stock valued at $359,000 after purchasing an additional 1,531 shares in the last quarter. Finally, Aptus Capital Advisors LLC raised its stake in shares of Minerals Technologies by 23.4% during the fourth quarter. Aptus Capital Advisors LLC now owns 16,181 shares of the basic materials company’s stock valued at $1,184,000 after purchasing an additional 3,066 shares in the last quarter. 94.87% of the stock is owned by institutional investors and hedge funds.

Minerals Technologies Company Profile

(Get Rating)

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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Earnings History and Estimates for Minerals Technologies (NYSE:MTX)

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