According to Zacks, “Minerals Technologies Inc. is a resource- and technology-based company that develops, produces and markets worldwide a broad range of specialty mineral, mineral-based and synthetic mineral products and related systems and services. The Company has five reportable segments: Specialty Minerals, Refractories, Performance Materials, Construction Technologies and Energy Services. “
A number of other equities research analysts have also recently commented on the stock. JPMorgan Chase & Co. cut shares of Minerals Technologies from an overweight rating to a neutral rating and set a $65.00 price target on the stock. in a report on Wednesday, May 1st. TheStreet raised shares of Minerals Technologies from a c+ rating to a b- rating in a report on Thursday, April 25th. Finally, Gabelli reissued a buy rating on shares of Minerals Technologies in a report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. Minerals Technologies currently has a consensus rating of Hold and a consensus price target of $65.00.
Minerals Technologies (NYSE:MTX) last posted its quarterly earnings results on Thursday, May 2nd. The basic materials company reported $1.11 EPS for the quarter, hitting analysts’ consensus estimates of $1.11. The company had revenue of $437.70 million for the quarter, compared to analysts’ expectations of $447.65 million. Minerals Technologies had a net margin of 9.37% and a return on equity of 12.52%. Minerals Technologies’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.12 EPS. As a group, sell-side analysts expect that Minerals Technologies will post 4.97 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, May 29th. This represents a $0.20 dividend on an annualized basis and a yield of 0.37%. Minerals Technologies’s payout ratio is 4.13%.
A number of hedge funds have recently modified their holdings of MTX. Morgan Stanley raised its holdings in Minerals Technologies by 16.6% during the 3rd quarter. Morgan Stanley now owns 151,822 shares of the basic materials company’s stock valued at $10,262,000 after acquiring an additional 21,621 shares during the period. Neuberger Berman Group LLC raised its holdings in Minerals Technologies by 0.3% during the 3rd quarter. Neuberger Berman Group LLC now owns 131,417 shares of the basic materials company’s stock valued at $8,884,000 after acquiring an additional 400 shares during the period. Nisa Investment Advisors LLC raised its holdings in Minerals Technologies by 5.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 12,060 shares of the basic materials company’s stock valued at $619,000 after acquiring an additional 600 shares during the period. Bank of Montreal Can raised its holdings in Minerals Technologies by 5.3% during the 4th quarter. Bank of Montreal Can now owns 5,232 shares of the basic materials company’s stock valued at $269,000 after acquiring an additional 264 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in Minerals Technologies by 220.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 96,305 shares of the basic materials company’s stock valued at $4,944,000 after acquiring an additional 66,283 shares during the period. 94.32% of the stock is currently owned by institutional investors and hedge funds.
Minerals Technologies Company Profile
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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