Zacks: Minerals Technologies Inc (MTX) Receives Consensus Recommendation of “Buy” from Analysts
Minerals Technologies Inc (NYSE:MTX) has received a consensus broker rating score of 1.67 (Buy) from the three brokers that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating and two have issued a strong buy rating on the company.
Brokers have set a 12 month consensus price target of $76.00 for the company and are predicting that the company will post $1.27 EPS for the current quarter, according to Zacks. Zacks has also given Minerals Technologies an industry rank of 226 out of 255 based on the ratings given to related companies.
Several analysts recently commented on MTX shares. Zacks Investment Research upgraded Minerals Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday. ValuEngine cut Minerals Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, August 8th.
Minerals Technologies (NYSE:MTX) last announced its earnings results on Thursday, August 2nd. The basic materials company reported $1.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.26 by $0.02. Minerals Technologies had a return on equity of 13.02% and a net margin of 11.50%. The business had revenue of $464.70 million during the quarter, compared to the consensus estimate of $442.45 million. During the same period in the prior year, the company posted $1.23 EPS. The business’s quarterly revenue was up 12.2% on a year-over-year basis. sell-side analysts forecast that Minerals Technologies will post 4.89 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 6th. Investors of record on Friday, August 24th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.29%. The ex-dividend date was Thursday, August 23rd. Minerals Technologies’s payout ratio is 4.36%.
In related news, Director Franklin Feder bought 450 shares of the company’s stock in a transaction on Thursday, June 28th. The stock was bought at an average cost of $75.10 per share, for a total transaction of $33,795.00. Following the acquisition, the director now directly owns 450 shares in the company, valued at $33,795. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John J. Carmola bought 800 shares of the company’s stock in a transaction on Wednesday, August 8th. The stock was bought at an average price of $68.00 per share, with a total value of $54,400.00. Following the completion of the acquisition, the director now owns 1,200 shares in the company, valued at $81,600. The disclosure for this purchase can be found here. 2.40% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of the business. Barclays PLC grew its holdings in Minerals Technologies by 7.9% in the 1st quarter. Barclays PLC now owns 9,741 shares of the basic materials company’s stock valued at $653,000 after buying an additional 715 shares in the last quarter. Skylands Capital LLC grew its holdings in Minerals Technologies by 10.1% in the 2nd quarter. Skylands Capital LLC now owns 9,245 shares of the basic materials company’s stock valued at $697,000 after buying an additional 845 shares in the last quarter. Cubist Systematic Strategies LLC grew its holdings in Minerals Technologies by 16.9% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 6,139 shares of the basic materials company’s stock valued at $463,000 after buying an additional 887 shares in the last quarter. FMR LLC grew its holdings in Minerals Technologies by 5.9% in the 2nd quarter. FMR LLC now owns 21,810 shares of the basic materials company’s stock valued at $1,643,000 after buying an additional 1,210 shares in the last quarter. Finally, NumerixS Investment Technologies Inc grew its holdings in Minerals Technologies by 1,300.0% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 1,400 shares of the basic materials company’s stock valued at $105,000 after buying an additional 1,300 shares in the last quarter. Institutional investors own 94.24% 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 worldwide. The company's Specialty Minerals segment produces and sells precipitated calcium carbonate and quicklime; and provides natural mineral products comprising limestone and talc.
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