Research Analysts Set Expectations for Minerals Technologies Inc.’s Q2 2023 Earnings (NYSE:MTX)

Minerals Technologies Inc. (NYSE:MTXGet Rating) – Analysts at Seaport Res Ptn raised their Q2 2023 EPS estimates for Minerals Technologies in a research report issued to clients and investors on Wednesday, January 18th. Seaport Res Ptn analyst M. Harrison now anticipates that the basic materials company will post earnings of $1.54 per share for the quarter, up from their previous forecast of $1.52. Seaport Res Ptn currently has a “Neutral” rating on the stock. The consensus estimate for Minerals Technologies’ current full-year earnings is $5.41 per share. Seaport Res Ptn also issued estimates for Minerals Technologies’ Q3 2023 earnings at $1.55 EPS, Q4 2023 earnings at $1.53 EPS and FY2023 earnings at $5.97 EPS.

Several other research firms also recently commented on MTX. StockNews.com initiated coverage on shares of Minerals Technologies in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. TheStreet cut shares of Minerals Technologies from a “b-” rating to a “c+” rating in a report on Monday, October 10th. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Minerals Technologies currently has an average rating of “Hold” and an average target price of $81.00.

Minerals Technologies Trading Up 2.2 %

MTX stock opened at $66.07 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.48 and a current ratio of 2.18. The company’s 50-day simple moving average is $60.70 and its 200 day simple moving average is $59.30. Minerals Technologies has a 52 week low of $49.38 and a 52 week high of $72.64. The company has a market capitalization of $2.14 billion, a PE ratio of 15.26 and a beta of 1.28.

Minerals Technologies (NYSE:MTXGet Rating) last released its quarterly earnings data on Thursday, October 27th. The basic materials company reported $1.35 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.03). Minerals Technologies had a net margin of 6.85% and a return on equity of 11.46%. The company had revenue of $541.90 million during the quarter, compared to analyst estimates of $531.20 million.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Boston Trust Walden Corp increased its position in Minerals Technologies by 24.5% during the 2nd quarter. Boston Trust Walden Corp now owns 549,441 shares of the basic materials company’s stock valued at $33,703,000 after purchasing an additional 108,171 shares during the period. State of Alaska Department of Revenue increased its position in Minerals Technologies by 374.7% during the 3rd quarter. State of Alaska Department of Revenue now owns 22,579 shares of the basic materials company’s stock valued at $1,115,000 after purchasing an additional 17,823 shares during the period. Foundry Partners LLC increased its position in Minerals Technologies by 3.0% during the 2nd quarter. Foundry Partners LLC now owns 53,236 shares of the basic materials company’s stock valued at $3,265,000 after purchasing an additional 1,537 shares during the period. Unison Advisors LLC increased its position in Minerals Technologies by 31.3% during the 3rd quarter. Unison Advisors LLC now owns 6,341 shares of the basic materials company’s stock valued at $313,000 after purchasing an additional 1,511 shares during the period. Finally, Cubist Systematic Strategies LLC increased its position in Minerals Technologies by 1.8% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 60,109 shares of the basic materials company’s stock valued at $2,970,000 after purchasing an additional 1,048 shares during the period. Institutional investors own 96.57% of the company’s stock.

Insider Activity at Minerals Technologies

In related news, SVP Brett Argirakis sold 927 shares of the firm’s stock in a transaction that occurred on Tuesday, December 20th. The shares were sold at an average price of $60.03, for a total value of $55,647.81. Following the completion of the transaction, the senior vice president now owns 15,694 shares in the company, valued at approximately $942,110.82. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, SVP Thomas J. Meek sold 16,795 shares of the firm’s stock in a transaction that occurred on Friday, December 2nd. The shares were sold at an average price of $62.52, for a total value of $1,050,023.40. Following the completion of the transaction, the senior vice president now owns 83,852 shares in the company, valued at approximately $5,242,427.04. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Brett Argirakis sold 927 shares of the firm’s stock in a transaction that occurred on Tuesday, December 20th. The shares were sold at an average price of $60.03, for a total transaction of $55,647.81. Following the completion of the transaction, the senior vice president now owns 15,694 shares of the company’s stock, valued at approximately $942,110.82. The disclosure for this sale can be found here. 3.40% of the stock is owned by company insiders.

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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