Seaport Res Ptn Weighs in on Minerals Technologies Inc.’s Q3 2024 Earnings (NYSE:MTX)

Minerals Technologies Inc. (NYSE:MTX) – Stock analysts at Seaport Res Ptn raised their Q3 2024 earnings estimates for shares of Minerals Technologies in a report issued on Monday, April 29th. Seaport Res Ptn analyst M. Harrison now anticipates that the basic materials company will post earnings of $1.64 per share for the quarter, up from their previous forecast of $1.63. Seaport Res Ptn currently has a “Buy” rating on the stock. The consensus estimate for Minerals Technologies’ current full-year earnings is $6.14 per share. Seaport Res Ptn also issued estimates for Minerals Technologies’ Q4 2024 earnings at $1.52 EPS, Q2 2025 earnings at $1.87 EPS, Q4 2025 earnings at $1.75 EPS and FY2025 earnings at $7.25 EPS.

Minerals Technologies (NYSE:MTX) last released its quarterly earnings data on Thursday, April 25th. The basic materials company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.27 by $0.22. The business had revenue of $534.50 million for the quarter, compared to the consensus estimate of $545.55 million. Minerals Technologies had a net margin of 4.35% and a return on equity of 10.87%. The company’s revenue was down 2.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.14 earnings per share.

MTX has been the topic of several other reports. StockNews.com raised shares of Minerals Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, February 8th. TheStreet upgraded shares of Minerals Technologies from a “c+” rating to a “b” rating in a report on Friday, February 2nd. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Minerals Technologies presently has an average rating of “Buy” and a consensus price target of $68.50.

Minerals Technologies Trading Up 1.1 %

Shares of MTX opened at $73.70 on Wednesday. The business’s 50-day moving average price is $72.90 and its 200-day moving average price is $67.11. Minerals Technologies has a twelve month low of $48.61 and a twelve month high of $78.04. The stock has a market cap of $2.38 billion, a PE ratio of 25.50 and a beta of 1.33. The company has a quick ratio of 1.75, a current ratio of 2.49 and a debt-to-equity ratio of 0.53.

Insider Activity

In other news, SVP Jonathan J. Hastings sold 12,922 shares of Minerals Technologies stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $71.48, for a total value of $923,664.56. Following the completion of the transaction, the senior vice president now owns 53,862 shares of the company’s stock, valued at approximately $3,850,055.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Minerals Technologies news, insider Dj Monagle III sold 1,180 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $74.12, for a total value of $87,461.60. Following the completion of the transaction, the insider now owns 81,031 shares of the company’s stock, valued at approximately $6,006,017.72. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Jonathan J. Hastings sold 12,922 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $71.48, for a total transaction of $923,664.56. Following the sale, the senior vice president now directly owns 53,862 shares of the company’s stock, valued at approximately $3,850,055.76. The disclosure for this sale can be found here. Company insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On Minerals Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in MTX. Parallel Advisors LLC increased its position in shares of Minerals Technologies by 97.9% during the 4th quarter. Parallel Advisors LLC now owns 556 shares of the basic materials company’s stock valued at $40,000 after purchasing an additional 275 shares during the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Minerals Technologies during the 3rd quarter worth approximately $44,000. Acadian Asset Management LLC purchased a new stake in shares of Minerals Technologies during the 3rd quarter worth approximately $58,000. International Assets Investment Management LLC raised its holdings in Minerals Technologies by 1,266.0% during the 4th quarter. International Assets Investment Management LLC now owns 1,284 shares of the basic materials company’s stock valued at $92,000 after buying an additional 1,190 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in Minerals Technologies during the 4th quarter valued at $158,000. Hedge funds and other institutional investors own 97.29% of the company’s stock.

About Minerals Technologies

Minerals Technologies Inc develops, produces, and markets various mineral, mineral-based, and related systems and services. The company operates through two segments, Consumer & Specialties, and Engineered Solutions segments. The Consumer & Specialties segment offers household and personal care products, such as pet litter, personal care, fabric care, edible oil and other fluid purification, animal health, and agricultural products; and specialty additives products, including precipitated calcium carbonate and ground calcium carbonate products that are used in the paper, paperboard, and fiber based packaging industries, as well as automotive, construction, and table and food applications.