Seaport Res Ptn Weighs in on Minerals Technologies Inc.’s Q2 2024 Earnings (NYSE:MTX)

Minerals Technologies Inc. (NYSE:MTX) – Equities research analysts at Seaport Res Ptn lifted their Q2 2024 earnings per share estimates for Minerals Technologies in a research note issued to investors on Monday, April 29th. Seaport Res Ptn analyst M. Harrison now forecasts that the basic materials company will post earnings of $1.62 per share for the quarter, up from their previous estimate of $1.56. Seaport Res Ptn currently has a “Buy” rating on the stock. The consensus estimate for Minerals Technologies’ current full-year earnings is $6.14 per share. Seaport Res Ptn also issued estimates for Minerals Technologies’ FY2024 earnings at $6.27 EPS and Q1 2025 earnings at $1.74 EPS.

MTX has been the topic of several other research reports. StockNews.com upgraded shares of Minerals Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, February 8th. TheStreet upgraded shares of Minerals Technologies from a “c+” rating to a “b” rating in a research report on Friday, February 2nd. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $68.50.

Minerals Technologies Price Performance

Shares of NYSE MTX opened at $73.70 on Thursday. Minerals Technologies has a 1 year low of $48.61 and a 1 year high of $78.04. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.49 and a quick ratio of 1.75. The company’s 50-day moving average is $72.90 and its 200 day moving average is $67.11. The stock has a market capitalization of $2.38 billion, a P/E ratio of 25.50 and a beta of 1.32.

Minerals Technologies (NYSE:MTX) last issued its quarterly earnings data on Thursday, April 25th. The basic materials company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.27 by $0.22. The business had revenue of $534.50 million during the quarter, compared to analyst estimates of $545.55 million. Minerals Technologies had a net margin of 4.35% and a return on equity of 10.87%. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.14 EPS.

Insider Buying and Selling at Minerals Technologies

In related news, SVP Jonathan J. Hastings sold 12,922 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $71.48, for a total transaction of $923,664.56. Following the completion of the transaction, the senior vice president now owns 53,862 shares of the company’s stock, valued at approximately $3,850,055.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, SVP Jonathan J. Hastings sold 12,922 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $71.48, for a total value of $923,664.56. Following the transaction, the senior vice president now owns 53,862 shares in the company, valued at approximately $3,850,055.76. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Dj Monagle III sold 1,180 shares of the firm’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $74.12, for a total transaction of $87,461.60. Following the sale, the insider now owns 81,031 shares of the company’s stock, valued at $6,006,017.72. The disclosure for this sale can be found here. Insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On Minerals Technologies

Hedge funds have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC bought a new stake in shares of Minerals Technologies in the 3rd quarter worth $235,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Minerals Technologies by 33.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,940 shares of the basic materials company’s stock worth $380,000 after buying an additional 1,734 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Minerals Technologies by 9.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 234,651 shares of the basic materials company’s stock valued at $12,849,000 after acquiring an additional 19,519 shares during the period. Inspire Investing LLC boosted its holdings in shares of Minerals Technologies by 3.2% during the 3rd quarter. Inspire Investing LLC now owns 6,395 shares of the basic materials company’s stock valued at $350,000 after acquiring an additional 197 shares during the last quarter. Finally, Skylands Capital LLC grew its stake in shares of Minerals Technologies by 65.7% in the third quarter. Skylands Capital LLC now owns 44,000 shares of the basic materials company’s stock worth $2,409,000 after acquiring an additional 17,450 shares during the period. 97.29% of the stock is currently owned by hedge funds and other institutional investors.

Minerals Technologies Company Profile

Minerals Technologies Inc develops, produces, and markets various mineral, mineral-based, and related systems and services. The company operates through two segments, Consumer & Specialties, and Engineered Solutions segments. The Consumer & Specialties segment offers household and personal care products, such as pet litter, personal care, fabric care, edible oil and other fluid purification, animal health, and agricultural products; and specialty additives products, including precipitated calcium carbonate and ground calcium carbonate products that are used in the paper, paperboard, and fiber based packaging industries, as well as automotive, construction, and table and food applications.