Minerals Technologies Inc. (NYSE:MTX) Forecasted to Post FY2022 Earnings of $5.56 Per Share

Minerals Technologies Inc. (NYSE:MTXGet Rating) – Stock analysts at Seaport Res Ptn decreased their FY2022 earnings estimates for shares of Minerals Technologies in a research report issued to clients and investors on Wednesday, September 14th. Seaport Res Ptn analyst M. Harrison now anticipates that the basic materials company will earn $5.56 per share for the year, down from their previous 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.

A number of other analysts also recently weighed in on the stock. CL King downgraded shares of Minerals Technologies from a “buy” rating to a “neutral” rating in a report on Tuesday, August 30th. StockNews.com downgraded shares of Minerals Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, June 28th.

Minerals Technologies Price Performance

Shares of Minerals Technologies stock opened at $55.17 on Monday. 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 has a fifty-two week low of $54.61 and a fifty-two week high of $79.03. The firm has a fifty day moving average price of $62.36 and a two-hundred day moving average price of $63.48. The company has a market cap of $1.80 billion, a PE ratio of 10.73 and a beta of 1.28.

Minerals Technologies (NYSE:MTXGet Rating) last issued 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 during the quarter, compared to the consensus estimate of $533.65 million. During the same period in the prior year, the firm earned $1.29 EPS. The business’s revenue was up 26.5% on a year-over-year basis.

Institutional Investors Weigh In On Minerals Technologies

A number of hedge funds have recently made changes to their positions in MTX. Ellevest Inc. increased its position in Minerals Technologies by 74.9% in the 2nd quarter. Ellevest Inc. now owns 488 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 209 shares in the last quarter. Pinebridge Investments L.P. increased its position in Minerals Technologies by 389.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 489 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 389 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in Minerals Technologies in the 2nd quarter valued at about $37,000. Washington Trust Advisors Inc. acquired a new stake in Minerals Technologies in the 2nd quarter valued at about $49,000. Finally, Quantbot Technologies LP increased its position in Minerals Technologies by 126.1% in the 2nd quarter. Quantbot Technologies LP now owns 997 shares of the basic materials company’s stock valued at $61,000 after acquiring an additional 556 shares in the last quarter. Institutional investors and hedge funds own 96.13% of the company’s stock.

Insider Transactions at Minerals Technologies

In other news, VP Michael Cipolla sold 6,356 shares of the firm’s stock in a transaction dated Thursday, August 11th. The shares were 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 directly owns 32,286 shares of the company’s stock, valued at approximately $2,075,021.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Dj Monagle III sold 19,673 shares of the stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $63.36, for a total transaction of $1,246,481.28. Following the completion of the sale, the insider now owns 72,402 shares in the company, valued at approximately $4,587,390.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael Cipolla sold 6,356 shares of the 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 sale, 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. In the last three months, insiders sold 54,067 shares of company stock valued at $3,404,799. Company insiders own 3.20% of the company’s stock.

Minerals Technologies Announces Dividend

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

About Minerals Technologies

(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.

Featured Stories

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

Receive News & Ratings for Minerals Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Minerals Technologies and related companies with MarketBeat.com's FREE daily email newsletter.