Brokerages expect Minerals Technologies Inc. (NYSE:MTX) to post sales of $421.90 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Minerals Technologies’ earnings. The lowest sales estimate is $414.60 million and the highest is $429.20 million. Minerals Technologies reported sales of $417.50 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 1.1%. The firm is scheduled to announce its next earnings results on Thursday, April 29th.
According to Zacks, analysts expect that Minerals Technologies will report full-year sales of $1.72 billion for the current year, with estimates ranging from $1.66 billion to $1.76 billion. For the next year, analysts expect that the company will post sales of $1.79 billion, with estimates ranging from $1.71 billion to $1.84 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Minerals Technologies.
Minerals Technologies (NYSE:MTX) last announced its earnings results on Thursday, February 4th. The basic materials company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.13. Minerals Technologies had a net margin of 6.88% and a return on equity of 9.20%.
In other Minerals Technologies news, insider Jonathan J. Hastings sold 5,190 shares of the business’s stock in a transaction on Monday, December 28th. The shares were sold at an average price of $62.52, for a total transaction of $324,478.80. Following the sale, the insider now directly owns 40,165 shares in the company, valued at approximately $2,511,115.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Andrew M. Jones sold 3,009 shares of Minerals Technologies stock in a transaction on Thursday, December 10th. The stock was sold at an average price of $61.93, for a total value of $186,347.37. Following the transaction, the vice president now directly owns 11,741 shares of the company’s stock, valued at approximately $727,120.13. The disclosure for this sale can be found here. Insiders have sold a total of 32,699 shares of company stock worth $2,185,646 over the last 90 days. Insiders own 2.80% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Aperio Group LLC raised its stake in shares of Minerals Technologies by 1.8% during the 3rd quarter. Aperio Group LLC now owns 55,969 shares of the basic materials company’s stock worth $2,860,000 after buying an additional 967 shares during the last quarter. Snyder Capital Management L P raised its stake in shares of Minerals Technologies by 11.2% during the 3rd quarter. Snyder Capital Management L P now owns 301,005 shares of the basic materials company’s stock worth $15,381,000 after buying an additional 30,391 shares during the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of Minerals Technologies by 3.2% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 40,759 shares of the basic materials company’s stock worth $2,083,000 after buying an additional 1,249 shares during the last quarter. Harbor Investment Advisory LLC raised its stake in shares of Minerals Technologies by 105.1% during the 3rd quarter. Harbor Investment Advisory LLC now owns 798 shares of the basic materials company’s stock worth $41,000 after buying an additional 409 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Minerals Technologies by 7.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 380,945 shares of the basic materials company’s stock valued at $19,490,000 after purchasing an additional 27,552 shares during the last quarter. 94.75% of the stock is owned by institutional investors and hedge funds.
NYSE:MTX traded down $0.19 during midday trading on Thursday, reaching $72.14. The stock had a trading volume of 5,946 shares, compared to its average volume of 127,045. The firm has a fifty day simple moving average of $66.86 and a two-hundred day simple moving average of $58.88. Minerals Technologies has a 12-month low of $27.28 and a 12-month high of $72.66. The company has a quick ratio of 2.91, a current ratio of 3.85 and a debt-to-equity ratio of 0.69. The stock has a market cap of $2.45 billion, a P/E ratio of 22.60, a P/E/G ratio of 3.30 and a beta of 1.47.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 11th. Shareholders of record on Friday, February 19th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, February 18th. This represents a $0.20 annualized dividend and a dividend yield of 0.28%. Minerals Technologies’s payout ratio is currently 4.73%.
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 Performance Materials segment supplies bentonite and bentonite-related products, as well as chromite and leonardite.
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