Minerals Technologies (NYSE:MTX) Releases Quarterly Earnings Results, Beats Expectations By $0.12 EPS

Minerals Technologies (NYSE:MTX) posted its quarterly earnings data on Thursday. The basic materials company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.12, FiscalAI reports. Minerals Technologies had a positive return on equity of 10.22% and a negative net margin of 0.89%.The company had revenue of $546.90 million during the quarter, compared to analysts’ expectations of $516.39 million. During the same period in the prior year, the business earned $1.14 earnings per share. Minerals Technologies’s revenue for the quarter was up 11.2% compared to the same quarter last year.

Minerals Technologies Price Performance

Shares of MTX stock traded up $3.27 during trading hours on Friday, hitting $75.21. The company had a trading volume of 19,986 shares, compared to its average volume of 189,050. Minerals Technologies has a 12 month low of $51.87 and a 12 month high of $76.71. The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of -147.47 and a beta of 1.19. The firm’s fifty day moving average is $70.26 and its 200 day moving average is $65.23. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.45 and a current ratio of 2.08.

Institutional Investors Weigh In On Minerals Technologies

Several large investors have recently modified their holdings of MTX. Guggenheim Capital LLC acquired a new position in shares of Minerals Technologies in the 4th quarter worth approximately $207,000. Jain Global LLC boosted its holdings in shares of Minerals Technologies by 6.4% in the 4th quarter. Jain Global LLC now owns 4,143 shares of the basic materials company’s stock worth $253,000 after acquiring an additional 248 shares in the last quarter. &PARTNERS acquired a new position in shares of Minerals Technologies in the 4th quarter worth approximately $244,000. CIBC Bancorp USA Inc. acquired a new position in shares of Minerals Technologies in the 3rd quarter worth approximately $209,000. Finally, Mariner LLC acquired a new position in shares of Minerals Technologies in the 3rd quarter worth approximately $262,000. 97.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MTX has been the topic of a number of recent research reports. Wall Street Zen downgraded Minerals Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 18th. Truist Financial lifted their target price on Minerals Technologies from $84.00 to $89.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Weiss Ratings reissued a “sell (d+)” rating on shares of Minerals Technologies in a research report on Wednesday, April 22nd. Finally, Zacks Research raised Minerals Technologies from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 14th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Minerals Technologies has an average rating of “Hold” and an average price target of $89.00.

About Minerals Technologies

Minerals Technologies Inc develops, produces and processes a broad range of mineral-based products and solutions that serve a variety of industrial applications. Its offerings include bentonite, perlite, precipitated calcium carbonate (PCC), mineral sands, foundry additives, performance minerals and specialty chemicals designed to enhance performance in markets such as paper, steel, construction, oil and gas, environmental remediation and consumer products.

The company operates through several business segments, including Specialty Minerals, Refractory Minerals, Performance Materials and Recycled Materials.