Minerals Technologies Inc. (NYSE:MTX – Get Rating) – Seaport Res Ptn cut their Q3 2022 earnings per share (EPS) estimates for shares of Minerals Technologies in a report issued on Monday, August 1st. Seaport Res Ptn analyst M. Harrison now forecasts that the basic materials company will post earnings of $1.44 per share for the quarter, down from their prior estimate of $1.45. The consensus estimate for Minerals Technologies’ current full-year earnings is $5.59 per share.
Separately, StockNews.com downgraded Minerals Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, June 28th.
Minerals Technologies Stock Down 0.2 %
Minerals Technologies (NYSE:MTX – Get Rating) last released its quarterly earnings results on Thursday, July 28th. The basic materials company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.04. The firm had revenue of $577.00 million for the quarter, compared to analyst estimates of $533.65 million. Minerals Technologies had a return on equity of 11.44% and a net margin of 8.46%. The business’s revenue was up 26.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.29 EPS.
Minerals Technologies Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 9th. Stockholders of record on Friday, August 19th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.31%. The ex-dividend date of this dividend is Thursday, August 18th. Minerals Technologies’s dividend payout ratio (DPR) is presently 3.89%.
Hedge Funds Weigh In On Minerals Technologies
Several institutional investors have recently modified their holdings of MTX. Vanguard Group Inc. grew its holdings in Minerals Technologies by 1.0% during the first quarter. Vanguard Group Inc. now owns 3,239,029 shares of the basic materials company’s stock valued at $214,261,000 after purchasing an additional 32,968 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Minerals Technologies by 1.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,039,353 shares of the basic materials company’s stock worth $134,905,000 after acquiring an additional 29,182 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Minerals Technologies by 12.4% during the first quarter. American Century Companies Inc. now owns 1,143,759 shares of the basic materials company’s stock worth $75,660,000 after acquiring an additional 125,830 shares in the last quarter. State Street Corp raised its position in shares of Minerals Technologies by 3.8% in the first quarter. State Street Corp now owns 1,053,774 shares of the basic materials company’s stock worth $69,707,000 after buying an additional 38,342 shares in the last quarter. Finally, Eaton Vance Management raised its position in Minerals Technologies by 21.2% during the first quarter. Eaton Vance Management now owns 994,955 shares of the basic materials company’s stock valued at $65,816,000 after purchasing an additional 174,127 shares in the last quarter. 94.87% of the stock is owned by institutional investors.
Minerals Technologies Company Profile
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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