Minerals Technologies Inc (NYSE:MTX) – Equities researchers at First Analysis reduced their Q3 2019 earnings per share (EPS) estimates for shares of Minerals Technologies in a note issued to investors on Wednesday, August 28th, according to Zacks Investment Research. First Analysis analyst now forecasts that the basic materials company will post earnings of $1.00 per share for the quarter, down from their previous estimate of $1.22. First Analysis also issued estimates for Minerals Technologies’ Q4 2019 earnings at $1.03 EPS, FY2019 earnings at $4.25 EPS, Q1 2020 earnings at $1.10 EPS and Q2 2020 earnings at $1.14 EPS.
MTX has been the subject of a number of other reports. Zacks Investment Research downgraded Minerals Technologies from a “hold” rating to a “sell” rating in a research report on Tuesday, July 9th. ValuEngine upgraded Minerals Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, September 14th. Finally, TheStreet downgraded Minerals Technologies from a “b-” rating to a “c+” rating in a research report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $65.00.MTX traded down $0.07 during trading on Friday, reaching $53.25. The stock had a trading volume of 249,738 shares, compared to its average volume of 188,340. The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of 11.00, a price-to-earnings-growth ratio of 3.58 and a beta of 1.86. The company has a quick ratio of 1.66, a current ratio of 2.30 and a debt-to-equity ratio of 0.61. Minerals Technologies has a 1-year low of $45.26 and a 1-year high of $70.22. The stock has a 50 day moving average of $49.94 and a two-hundred day moving average of $55.48.
Minerals Technologies (NYSE:MTX) last issued its quarterly earnings data on Thursday, August 1st. The basic materials company reported $1.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.05. The business had revenue of $463.80 million during the quarter, compared to the consensus estimate of $458.47 million. Minerals Technologies had a return on equity of 11.82% and a net margin of 8.40%. The business’s revenue was down .2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.28 earnings per share.
Large investors have recently made changes to their positions in the business. Point72 Hong Kong Ltd acquired a new stake in Minerals Technologies during the 2nd quarter valued at $44,000. Quantamental Technologies LLC raised its stake in Minerals Technologies by 11.8% during the 1st quarter. Quantamental Technologies LLC now owns 1,895 shares of the basic materials company’s stock valued at $111,000 after purchasing an additional 200 shares during the period. Starr International Co. Inc. purchased a new position in shares of Minerals Technologies during the 1st quarter valued at $147,000. Tower Research Capital LLC TRC grew its holdings in shares of Minerals Technologies by 123.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,933 shares of the basic materials company’s stock valued at $157,000 after acquiring an additional 1,620 shares in the last quarter. Finally, Magnus Financial Group LLC purchased a new position in shares of Minerals Technologies during the 1st quarter valued at $205,000. 94.33% of the stock is currently owned by institutional investors.
In other Minerals Technologies news, SVP Thomas J. Meek sold 7,502 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $45.90, for a total transaction of $344,341.80. Following the sale, the senior vice president now directly owns 65,752 shares of the company’s stock, valued at approximately $3,018,016.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Douglas T. Dietrich bought 1,500 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were purchased at an average cost of $47.99 per share, for a total transaction of $71,985.00. Following the completion of the purchase, the chief executive officer now owns 71,841 shares in the company, valued at $3,447,649.59. The disclosure for this purchase can be found here. 2.50% of the stock is currently owned by corporate insiders.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Friday, August 23rd were given a $0.05 dividend. The ex-dividend date was Thursday, August 22nd. This represents a $0.20 dividend on an annualized basis and a yield of 0.38%. Minerals Technologies’s dividend payout ratio (DPR) is 4.13%.
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.