According to Zacks, “Minerals Technologies Inc. is a resource- and technology-based company that develops, produces and markets worldwide a broad range of specialty mineral, mineral-based and synthetic mineral products and related systems and services. The Company has five reportable segments: Specialty Minerals, Refractories, Performance Materials, Construction Technologies and Energy Services. “
Several other brokerages have also recently issued reports on MTX. JPMorgan Chase & Co. cut Minerals Technologies from an overweight rating to a neutral rating and set a $65.00 price objective for the company. in a report on Wednesday, May 1st. TheStreet raised Minerals Technologies from a c+ rating to a b- rating in a report on Thursday, April 25th. Finally, Gabelli reaffirmed a buy rating on shares of Minerals Technologies in a report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $65.00.
Minerals Technologies (NYSE:MTX) last issued its quarterly earnings data on Thursday, May 2nd. The basic materials company reported $1.11 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.11. The business had revenue of $437.70 million during the quarter, compared to analysts’ expectations of $447.65 million. Minerals Technologies had a return on equity of 12.52% and a net margin of 9.37%. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.12 EPS. As a group, equities research analysts expect that Minerals Technologies will post 4.97 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 30th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, May 29th. This represents a $0.20 dividend on an annualized basis and a yield of 0.38%. Minerals Technologies’s payout ratio is 4.13%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MTX. Norges Bank acquired a new position in Minerals Technologies in the 4th quarter worth about $22,597,000. Daruma Capital Management LLC acquired a new position in Minerals Technologies in the 1st quarter worth about $22,314,000. Wellington Management Group LLP raised its holdings in Minerals Technologies by 18.6% in the 1st quarter. Wellington Management Group LLP now owns 1,134,548 shares of the basic materials company’s stock worth $66,701,000 after purchasing an additional 178,001 shares during the period. BlackRock Inc. raised its holdings in Minerals Technologies by 3.8% in the 4th quarter. BlackRock Inc. now owns 4,122,961 shares of the basic materials company’s stock worth $211,673,000 after purchasing an additional 152,414 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in Minerals Technologies by 13.7% in the 4th quarter. Victory Capital Management Inc. now owns 1,138,004 shares of the basic materials company’s stock worth $58,425,000 after purchasing an additional 137,465 shares during the period. 94.55% 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 worldwide. The company's Specialty Minerals segment produces and sells precipitated calcium carbonate and quicklime; and provides natural mineral products comprising limestone and talc.
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