Minerals Technologies (MTX) Scheduled to Post Quarterly Earnings on Thursday – MarketBeat

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Minerals Technologies (NYSE:MTX – Get Rating) will be posting its quarterly earnings results after the market closes on Thursday, October 27th. Analysts expect Minerals Technologies to post earnings of $1.39 per share for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.
Minerals Technologies (NYSE:MTX – Get Rating) last released its earnings results on Thursday, July 28th. The basic materials company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.04. Minerals Technologies had a net margin of 8.46% and a return on equity of 11.44%. The company had revenue of $577.00 million for the quarter, compared to the consensus estimate of $533.65 million. During the same quarter in the previous year, the company earned $1.29 EPS. Minerals Technologies’s quarterly revenue was up 26.5% compared to the same quarter last year. On average, analysts expect Minerals Technologies to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Minerals Technologies Stock Performance

MTX opened at $54.40 on Thursday. The company has a current ratio of 2.29, a quick ratio of 1.56 and a debt-to-equity ratio of 0.60. The company’s fifty day moving average price is $57.38 and its two-hundred day moving average price is $61.39. Minerals Technologies has a 1-year low of $49.38 and a 1-year high of $79.03. The company has a market cap of $1.77 billion, a price-to-earnings ratio of 10.58 and a beta of 1.29.

Analyst Ratings Changes

A number of equities analysts have weighed in on MTX shares. CL King lowered shares of Minerals Technologies from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 30th. Seaport Res Ptn downgraded shares of Minerals Technologies from a “buy” rating to a “neutral” rating in a research note on Thursday, October 13th. StockNews.com initiated coverage on shares of Minerals Technologies in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, TheStreet downgraded shares of Minerals Technologies from a “b-” rating to a “c+” rating in a research report on Monday, October 10th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $81.00.

Insider Buying and Selling at Minerals Technologies

In other Minerals Technologies news, insider Jonathan J. Hastings sold 11,739 shares of the business’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $65.67, for a total value of $770,900.13. Following the completion of the transaction, the insider now directly owns 44,468 shares of the company’s stock, valued at $2,920,213.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Michael Cipolla sold 6,356 shares of the firm’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $64.27, for a total transaction of $408,500.12. Following the sale, the vice president now owns 32,286 shares of the company’s stock, valued at approximately $2,075,021.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jonathan J. Hastings sold 11,739 shares of the firm’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $65.67, for a total value of $770,900.13. Following the transaction, the insider now owns 44,468 shares in the company, valued at approximately $2,920,213.56. The disclosure for this sale can be found here. Insiders have sold 54,067 shares of company stock worth $3,404,799 over the last quarter. Insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Minerals Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of MTX. Quantbot Technologies LP grew its position in Minerals Technologies by 126.1% during the second quarter. Quantbot Technologies LP now owns 997 shares of the basic materials company’s stock valued at $61,000 after acquiring an additional 556 shares during the period. Point72 Hong Kong Ltd bought a new position in shares of Minerals Technologies during the second quarter valued at approximately $72,000. Ethic Inc. bought a new position in Minerals Technologies in the 1st quarter worth approximately $203,000. Jane Street Group LLC grew its holdings in Minerals Technologies by 36.6% in the 1st quarter. Jane Street Group LLC now owns 5,458 shares of the basic materials company’s stock worth $361,000 after buying an additional 1,463 shares in the last quarter. Finally, LPL Financial LLC boosted its stake in Minerals Technologies by 5.7% during the 2nd quarter. LPL Financial LLC now owns 5,917 shares of the basic materials company’s stock valued at $363,000 after purchasing an additional 318 shares in the last quarter. 96.13% of the stock is owned by institutional investors and hedge funds.

Minerals Technologies Company Profile

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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.

Featured Articles

Earnings History for Minerals Technologies (NYSE:MTX)
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