Minerals Technologies (NYSE:MTX) Issues Earnings Results

Minerals Technologies (NYSE:MTX) announced its quarterly earnings results on Thursday. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.22, Briefing.com reports. The business had revenue of $534.50 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm earned $1.14 EPS.

Minerals Technologies Trading Up 3.5 %

Shares of MTX traded up $2.52 during trading hours on Friday, reaching $73.70. 176,355 shares of the company traded hands, compared to its average volume of 151,071. The company’s fifty day moving average price is $72.75 and its two-hundred day moving average price is $66.33. The company has a market capitalization of $2.38 billion, a price-to-earnings ratio of 29.60 and a beta of 1.33. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.54. Minerals Technologies has a 12 month low of $48.61 and a 12 month high of $78.04.

Insider Activity

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

Analyst Ratings Changes

A number of brokerages have issued reports on MTX. TheStreet raised shares of Minerals Technologies from a “c+” rating to a “b” rating in a report on Friday, February 2nd. StockNews.com raised shares of Minerals Technologies from a “hold” rating to a “buy” rating in a report on Thursday, February 8th. Finally, Seaport Res Ptn raised shares of Minerals Technologies from a “neutral” rating to a “buy” rating in a report on Monday, February 5th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Minerals Technologies has a consensus rating of “Buy” and a consensus price target 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.