Minerals Technologies Inc. (NYSE:MTX) Expected to Post Earnings of $1.46 Per Share

Analysts forecast that Minerals Technologies Inc. (NYSE:MTX – Get Rating) will announce earnings per share (EPS) of $1.46 for the current quarter, according to Zacks. Two analysts have issued estimates for Minerals Technologies’ earnings, with the lowest EPS estimate coming in at $1.45 and the highest estimate coming in at $1.47. Minerals Technologies reported earnings of $1.29 per share during the same quarter last year, which would indicate a positive year over year growth rate of 13.2%. The business is expected to announce its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Minerals Technologies will report full year earnings of $5.67 per share for the current financial year, with EPS estimates ranging from $5.65 to $5.70. For the next financial year, analysts expect that the company will report earnings of $6.37 per share, with EPS estimates ranging from $6.15 to $6.65. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Minerals Technologies.

Minerals Technologies (NYSE:MTX – Get Rating) last released its earnings results on Thursday, April 28th. The basic materials company reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.11. Minerals Technologies had a return on equity of 11.17% and a net margin of 8.75%. The company had revenue of $519.10 million during the quarter, compared to analyst estimates of $513.83 million. During the same quarter in the previous year, the company posted $1.17 EPS. Minerals Technologies’s revenue for the quarter was up 14.7% on a year-over-year basis.

A number of brokerages have recently weighed in on MTX. JPMorgan Chase & Co. upgraded Minerals Technologies from a “neutral” rating to an “overweight” rating and cut their price objective for the company from $80.00 to $75.00 in a research report on Monday, February 7th. CL King reduced their target price on shares of Minerals Technologies from $90.00 to $87.00 in a research report on Monday, February 7th. Zacks Investment Research raised Minerals Technologies from a “sell” rating to a “hold” rating in a research report on Friday, May 6th. Finally, StockNews.com cut Minerals Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, May 11th.

MTX stock traded up $1.24 during midday trading on Friday, hitting $67.41. The company’s stock had a trading volume of 98,250 shares, compared to its average volume of 142,966. The company has a market cap of $2.22 billion, a PE ratio of 13.46 and a beta of 1.30. Minerals Technologies has a 12 month low of $60.31 and a 12 month high of $88.62. The company has a current ratio of 2.40, a quick ratio of 1.66 and a debt-to-equity ratio of 0.58. The firm’s 50-day moving average is $64.59 and its 200-day moving average is $68.38.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 16th. Investors of record on Thursday, June 2nd will be issued a dividend of $0.05 per share. The ex-dividend date is Wednesday, June 1st. This represents a $0.20 annualized dividend and a yield of 0.30%. Minerals Technologies’s dividend payout ratio is currently 3.99%.

Several institutional investors and hedge funds have recently modified their holdings of the company. Pinebridge Investments L.P. acquired a new position in shares of Minerals Technologies during the 4th quarter valued at $88,000. Harbor Investment Advisory LLC increased its position in shares of Minerals Technologies by 19.9% in the 4th quarter. Harbor Investment Advisory LLC now owns 1,373 shares of the basic materials company’s stock worth $100,000 after purchasing an additional 228 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of Minerals Technologies by 22.4% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,866 shares of the basic materials company’s stock valued at $136,000 after buying an additional 342 shares during the period. Advisor Group Holdings Inc. boosted its holdings in shares of Minerals Technologies by 24.9% in the 4th quarter. Advisor Group Holdings Inc. now owns 2,075 shares of the basic materials company’s stock valued at $151,000 after buying an additional 414 shares during the period. Finally, Ethic Inc. acquired a new position in Minerals Technologies during the 1st quarter valued at about $203,000. 94.87% of the stock is owned by institutional investors and hedge funds.

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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