Minerals Technologies (NYSE:MTX – Get Free Report) issued its quarterly earnings results on Thursday. The basic materials company reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.09, FiscalAI reports. The business had revenue of $554.90 million for the quarter, compared to the consensus estimate of $552.20 million. Minerals Technologies had a negative net margin of 3.13% and a positive return on equity of 10.63%.
Minerals Technologies Price Performance
MTX stock traded down $0.12 during mid-day trading on Thursday, hitting $61.80. The company had a trading volume of 302,458 shares, compared to its average volume of 210,775. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of -28.48 and a beta of 1.12. Minerals Technologies has a 12-month low of $53.94 and a 12-month high of $84.34. The company has a quick ratio of 1.00, a current ratio of 1.43 and a debt-to-equity ratio of 0.60. The company has a 50-day moving average price of $67.12 and a 200 day moving average price of $71.37.
Minerals Technologies Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Thursday, November 5th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.8%. The ex-dividend date is Thursday, November 5th. This is an increase from Minerals Technologies’s previous quarterly dividend of $0.12. Minerals Technologies’s dividend payout ratio is presently -22.12%.
Analyst Ratings Changes
Several brokerages have recently commented on MTX. Zacks Research downgraded shares of Minerals Technologies from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 14th. Weiss Ratings cut shares of Minerals Technologies from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday. Finally, Wall Street Zen downgraded shares of Minerals Technologies from a “strong-buy” rating to a “hold” rating in a report on Saturday, August 8th. One research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $90.00.
Check Out Our Latest Stock Report on Minerals Technologies
About Minerals Technologies
Minerals Technologies Inc (NYSE: MTX) is a global specialty minerals and materials company that develops, produces and markets mineral-based products and engineered solutions for industrial and consumer applications. Its products are used in industries including paper and packaging, construction, environmental services, agriculture, food, personal care and automotive manufacturing.
The company supplies materials such as precipitated calcium carbonate, talc, bentonite, perlite and other specialty minerals.
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