Minerals Technologies Inc. (NYSE:MTX) Forecasted to Post Q2 2024 Earnings of $1.62 Per Share

Minerals Technologies Inc. (NYSE:MTX) – Seaport Res Ptn boosted their Q2 2024 earnings per share estimates for Minerals Technologies in a research note issued on Monday, April 29th. Seaport Res Ptn analyst M. Harrison now expects that the basic materials company will earn $1.62 per share for the quarter, up from their previous estimate of $1.56. Seaport Res Ptn has a “Buy” rating on the stock. The consensus estimate for Minerals Technologies’ current full-year earnings is $6.29 per share. Seaport Res Ptn also issued estimates for Minerals Technologies’ FY2024 earnings at $6.27 EPS and Q1 2025 earnings at $1.74 EPS.

A number of other brokerages have also recently weighed in on MTX. StockNews.com raised 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 research note on Friday, February 2nd. Four investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Minerals Technologies presently has a consensus rating of “Buy” and a consensus target price of $68.50.

Minerals Technologies Stock Up 2.6 %

Minerals Technologies stock opened at $77.20 on Thursday. The company has a market capitalization of $2.49 billion, a PE ratio of 26.71 and a beta of 1.32. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.75 and a current ratio of 2.49. Minerals Technologies has a fifty-two week low of $48.61 and a fifty-two week high of $78.04. The firm has a 50 day moving average price of $73.08 and a 200 day moving average price of $67.35.

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

Institutional Investors Weigh In On Minerals Technologies

Several institutional investors have recently modified their holdings of MTX. Parallel Advisors LLC raised its stake in Minerals Technologies by 97.9% in the fourth quarter. Parallel Advisors LLC now owns 556 shares of the basic materials company’s stock valued at $40,000 after buying an additional 275 shares in the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of Minerals Technologies during the 3rd quarter worth about $44,000. Acadian Asset Management LLC purchased a new stake in Minerals Technologies during the third quarter worth approximately $58,000. Fidelis Capital Partners LLC acquired a new position in Minerals Technologies in the first quarter valued at approximately $77,000. Finally, International Assets Investment Management LLC increased its stake in Minerals Technologies by 1,266.0% in the fourth quarter. International Assets Investment Management LLC now owns 1,284 shares of the basic materials company’s stock valued at $92,000 after purchasing an additional 1,190 shares during the last quarter. 97.29% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Minerals Technologies

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

Minerals Technologies Company Profile

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.