Minerals Technologies Inc. (NYSE:MTX) Expected to Post Quarterly Sales of $529.80 Million

Equities research analysts forecast that Minerals Technologies Inc. (NYSE:MTXGet Rating) will announce sales of $529.80 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Minerals Technologies’ earnings, with the highest sales estimate coming in at $534.50 million and the lowest estimate coming in at $525.09 million. Minerals Technologies posted sales of $455.60 million in the same quarter last year, which would suggest a positive year over year growth rate of 16.3%. The company is expected to announce its next earnings report on Monday, January 1st.

On average, analysts expect that Minerals Technologies will report full-year sales of $2.09 billion for the current fiscal year, with estimates ranging from $2.07 billion to $2.11 billion. For the next year, analysts expect that the business will report sales of $2.18 billion, with estimates ranging from $2.14 billion to $2.23 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Minerals Technologies.

Minerals Technologies (NYSE:MTXGet Rating) last released its quarterly earnings results on Thursday, April 28th. The basic materials company reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.11. The company had revenue of $519.10 million for the quarter, compared to analysts’ expectations of $513.83 million. Minerals Technologies had a return on equity of 11.17% and a net margin of 8.75%. The business’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.17 earnings per share.

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

Minerals Technologies stock opened at $67.41 on Monday. The stock’s 50 day moving average is $64.59 and its 200 day moving average is $68.32. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.40 and a quick ratio of 1.66. The firm has a market cap of $2.22 billion, a P/E ratio of 13.46 and a beta of 1.30. Minerals Technologies has a one year low of $60.31 and a one year high of $88.62.

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

Several large investors have recently added to or reduced their stakes in the business. Mutual of America Capital Management LLC raised its holdings in shares of Minerals Technologies by 0.5% in the 4th quarter. Mutual of America Capital Management LLC now owns 29,784 shares of the basic materials company’s stock valued at $2,179,000 after acquiring an additional 160 shares in the last quarter. First Republic Investment Management Inc. increased its position in shares of Minerals Technologies by 4.6% during the 3rd quarter. First Republic Investment Management Inc. now owns 4,174 shares of the basic materials company’s stock valued at $292,000 after purchasing an additional 183 shares during the last quarter. Comerica Bank increased its position in shares of Minerals Technologies by 1.2% during the 4th quarter. Comerica Bank now owns 15,638 shares of the basic materials company’s stock valued at $1,099,000 after purchasing an additional 185 shares during the last quarter. Verdence Capital Advisors LLC increased its position in shares of Minerals Technologies by 6.2% during the 1st quarter. Verdence Capital Advisors LLC now owns 3,532 shares of the basic materials company’s stock valued at $234,000 after purchasing an additional 207 shares during the last quarter. Finally, Harbor Investment Advisory LLC increased its position in shares of Minerals Technologies by 19.9% during the 4th quarter. Harbor Investment Advisory LLC now owns 1,373 shares of the basic materials company’s stock valued at $100,000 after purchasing an additional 228 shares during the last quarter. 94.87% of the stock is currently owned by hedge funds and other institutional investors.

About Minerals Technologies (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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