Equities analysts expect that Minerals Technologies Inc. (NYSE:MTX) will announce sales of $458.17 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Minerals Technologies’ earnings. The lowest sales estimate is $456.22 million and the highest is $459.80 million. Minerals Technologies reported sales of $357.20 million in the same quarter last year, which indicates a positive year over year growth rate of 28.3%. The business is scheduled to issue its next earnings report on Thursday, July 29th.
According to Zacks, analysts expect that Minerals Technologies will report full year sales of $1.82 billion for the current fiscal year, with estimates ranging from $1.80 billion to $1.84 billion. For the next financial year, analysts expect that the firm will post sales of $1.89 billion, with estimates ranging from $1.85 billion to $1.93 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Minerals Technologies.
Minerals Technologies (NYSE:MTX) last released its quarterly earnings data on Thursday, May 6th. The basic materials company reported $1.17 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.12. The business had revenue of $452.60 million during the quarter, compared to analyst estimates of $425.63 million. Minerals Technologies had a return on equity of 9.28% and a net margin of 6.98%. The company’s revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the business posted $1.13 EPS.
Shares of NYSE:MTX traded down $1.19 during trading on Friday, reaching $82.65. 2,572 shares of the company’s stock traded hands, compared to its average volume of 136,758. Minerals Technologies has a fifty-two week low of $42.06 and a fifty-two week high of $88.62. The company has a current ratio of 3.62, a quick ratio of 2.76 and a debt-to-equity ratio of 0.62. The stock has a market cap of $2.79 billion, a price-to-earnings ratio of 25.18 and a beta of 1.48. The stock has a 50-day simple moving average of $81.18.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 17th. Investors of record on Thursday, June 3rd will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.24%. The ex-dividend date of this dividend is Wednesday, June 2nd. Minerals Technologies’s payout ratio is 5.01%.
A number of hedge funds have recently bought and sold shares of MTX. Norges Bank acquired a new stake in Minerals Technologies in the 4th quarter worth about $28,594,000. Franklin Resources Inc. boosted its holdings in shares of Minerals Technologies by 19.0% during the 1st quarter. Franklin Resources Inc. now owns 2,014,692 shares of the basic materials company’s stock worth $151,746,000 after purchasing an additional 322,358 shares during the last quarter. GW&K Investment Management LLC boosted its holdings in shares of Minerals Technologies by 138.3% during the 4th quarter. GW&K Investment Management LLC now owns 507,144 shares of the basic materials company’s stock worth $31,504,000 after purchasing an additional 294,327 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Minerals Technologies by 7.2% during the 1st quarter. BlackRock Inc. now owns 4,070,048 shares of the basic materials company’s stock worth $306,557,000 after purchasing an additional 272,907 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in shares of Minerals Technologies by 75.8% during the 4th quarter. Wells Fargo & Company MN now owns 402,544 shares of the basic materials company’s stock worth $25,007,000 after purchasing an additional 173,513 shares during the last quarter. Institutional investors own 95.94% of the company’s stock.
About Minerals Technologies
Minerals Technologies Inc develops, produces, and markets various specialty mineral, mineral-based, and synthetic mineral products, and supporting systems and services. The company's Performance Materials segment supplies bentonite and bentonite-related products, as well as chromite and leonardite.
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