Minerals Technologies (NYSE:MTX) Announces Earnings Results

Minerals Technologies (NYSE:MTX) released its earnings results on Thursday. The basic materials company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.22, Briefing.com reports. The firm had revenue of $534.50 million for the quarter, compared to the consensus estimate of $545.55 million. Minerals Technologies had a net margin of 3.88% and a return on equity of 10.26%. The company’s revenue was down 2.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.14 EPS.

Minerals Technologies Price Performance

NYSE MTX traded up $2.95 during mid-day trading on Friday, hitting $74.13. The stock had a trading volume of 113,138 shares, compared to its average volume of 150,710. The firm’s 50 day moving average is $72.75 and its 200 day moving average is $66.33. Minerals Technologies has a twelve month low of $48.61 and a twelve month high of $78.04. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.40 and a quick ratio of 1.69. The stock has a market capitalization of $2.39 billion, a price-to-earnings ratio of 29.60 and a beta of 1.33.

Insider Transactions at Minerals Technologies

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

Wall Street Analyst Weigh In

A number of equities research analysts have commented on MTX shares. TheStreet upgraded shares of Minerals Technologies from a “c+” rating to a “b” rating in a research note on Friday, February 2nd. Seaport Res Ptn upgraded Minerals Technologies from a “neutral” rating to a “buy” rating in a research report on Monday, February 5th. Finally, StockNews.com upgraded Minerals Technologies from a “hold” rating to a “buy” rating in a report on Thursday, February 8th. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Minerals Technologies presently has a consensus rating of “Buy” and a consensus target price of $68.50.

About Minerals Technologies

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.