Q3 2024 EPS Estimates for Minerals Technologies Inc. Raised by Seaport Res Ptn (NYSE:MTX)

Minerals Technologies Inc. (NYSE:MTXFree Report) – Research analysts at Seaport Res Ptn lifted their Q3 2024 EPS estimates for Minerals Technologies in a research note issued on Monday, February 5th. Seaport Res Ptn analyst M. Harrison now anticipates that the basic materials company will post earnings of $1.63 per share for the quarter, up from their previous forecast of $1.59. Seaport Res Ptn has a “Buy” rating on the stock. The consensus estimate for Minerals Technologies’ current full-year earnings is $5.96 per share. Seaport Res Ptn also issued estimates for Minerals Technologies’ Q4 2024 earnings at $1.49 EPS and FY2024 earnings at $5.98 EPS.

Several other research firms also recently commented on MTX. TheStreet raised shares of Minerals Technologies from a “c+” rating to a “b” rating in a report on Friday, February 2nd. StockNews.com upgraded shares of Minerals Technologies from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Sidoti upgraded shares of Minerals Technologies from a “neutral” rating to a “buy” rating and set a $65.00 target price on the stock in a research note on Thursday, October 19th. Four analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $68.50.

Get Our Latest Analysis on Minerals Technologies

Minerals Technologies Stock Up 1.4 %

Minerals Technologies stock opened at $69.71 on Thursday. Minerals Technologies has a twelve month low of $48.61 and a twelve month high of $72.10. The firm has a 50 day moving average price of $67.07 and a 200-day moving average price of $60.44. The company has a market capitalization of $2.27 billion, a P/E ratio of 26.92 and a beta of 1.32. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.54.

Minerals Technologies (NYSE:MTXGet Free Report) last posted its earnings results on Friday, February 2nd. The basic materials company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.03. Minerals Technologies had a net margin of 3.88% and a return on equity of 10.26%. The company had revenue of $524.50 million for the quarter, compared to analyst estimates of $506.67 million. During the same quarter in the prior year, the business posted $0.67 EPS. The firm’s revenue was up 3.3% compared to the same quarter last year.

Minerals Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 7th. Investors of record on Thursday, February 15th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $0.40 dividend on an annualized basis and a yield of 0.57%. Minerals Technologies’s dividend payout ratio (DPR) is currently 15.44%.

Insider Activity at Minerals Technologies

In other Minerals Technologies news, SVP Jonathan J. Hastings sold 8,960 shares of Minerals Technologies stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $62.44, for a total value of $559,462.40. Following the completion of the transaction, the senior vice president now directly owns 49,131 shares of the company’s stock, valued at $3,067,739.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Minerals Technologies news, SVP Jonathan J. Hastings sold 8,960 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $62.44, for a total value of $559,462.40. Following the completion of the transaction, the senior vice president now directly owns 49,131 shares in the company, valued at $3,067,739.64. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Dj Monagle III sold 14,598 shares of the stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $68.08, for a total transaction of $993,831.84. Following the completion of the sale, the insider now directly owns 76,720 shares in the company, valued at approximately $5,223,097.60. The disclosure for this sale can be found here. Insiders sold a total of 26,213 shares of company stock valued at $1,730,754 in the last three months. Company insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Minerals Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Great Lakes Advisors LLC acquired a new stake in Minerals Technologies in the 4th quarter valued at $3,869,000. Panagora Asset Management Inc. boosted its position in shares of Minerals Technologies by 31.9% during the 4th quarter. Panagora Asset Management Inc. now owns 161,783 shares of the basic materials company’s stock valued at $11,537,000 after acquiring an additional 39,173 shares during the last quarter. First Eagle Investment Management LLC lifted its position in Minerals Technologies by 58.6% in the fourth quarter. First Eagle Investment Management LLC now owns 64,531 shares of the basic materials company’s stock valued at $4,602,000 after buying an additional 23,832 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Minerals Technologies by 2.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,267,569 shares of the basic materials company’s stock valued at $161,702,000 after buying an additional 49,192 shares during the last quarter. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Minerals Technologies during the fourth quarter worth about $612,000. 94.24% of the stock is owned by hedge funds and other institutional investors.

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.

Further Reading

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

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