Shares of Minerals Technologies Inc (NYSE:MTX) have earned a consensus broker rating score of 2.00 (Buy) from the four analysts that cover the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a hold rating and two have issued a strong buy rating on the company.
Brokerages have set a 12-month consensus price objective of $77.00 for the company and are forecasting that the company will post $1.09 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Minerals Technologies an industry rank of 104 out of 265 based on the ratings given to related companies.
A number of equities research analysts have commented on the stock. Zacks Investment Research upgraded shares of Minerals Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, October 25th. KeyCorp restated a “hold” rating on shares of Minerals Technologies in a report on Monday, November 6th. Finally, ValuEngine upgraded shares of Minerals Technologies from a “hold” rating to a “buy” rating in a report on Thursday, January 4th.
Shares of Minerals Technologies (NYSE MTX) traded down $0.25 during midday trading on Friday, reaching $70.50. 105,277 shares of the company were exchanged, compared to its average volume of 123,183. Minerals Technologies has a fifty-two week low of $62.55 and a fifty-two week high of $83.85. The company has a market capitalization of $2,510.00, a P/E ratio of 16.10 and a beta of 2.26. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.66 and a quick ratio of 1.98.
Minerals Technologies (NYSE:MTX) last posted its quarterly earnings results on Thursday, November 2nd. The basic materials company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.02. The business had revenue of $424.40 million during the quarter, compared to analysts’ expectations of $404.80 million. Minerals Technologies had a net margin of 9.48% and a return on equity of 14.59%. The business’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period last year, the company posted $1.17 earnings per share. analysts anticipate that Minerals Technologies will post 4.57 earnings per share for the current year.
Minerals Technologies declared that its Board of Directors has initiated a share repurchase plan on Thursday, September 21st that allows the company to buyback $150.00 million in shares. This buyback authorization allows the basic materials company to repurchase up to 6.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
Several hedge funds and other institutional investors have recently modified their holdings of MTX. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Minerals Technologies by 9.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,471 shares of the basic materials company’s stock valued at $108,000 after buying an additional 125 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Minerals Technologies by 17.6% during the second quarter. Victory Capital Management Inc. now owns 2,054 shares of the basic materials company’s stock valued at $150,000 after buying an additional 307 shares during the last quarter. Riverhead Capital Management LLC grew its holdings in shares of Minerals Technologies by 69.0% during the second quarter. Riverhead Capital Management LLC now owns 2,197 shares of the basic materials company’s stock valued at $161,000 after buying an additional 897 shares during the last quarter. Quantbot Technologies LP grew its holdings in shares of Minerals Technologies by 93.0% during the second quarter. Quantbot Technologies LP now owns 2,349 shares of the basic materials company’s stock valued at $171,000 after buying an additional 1,132 shares during the last quarter. Finally, Boothbay Fund Management LLC acquired a new position in shares of Minerals Technologies during the third quarter valued at about $218,000. Hedge funds and other institutional investors own 94.63% of the company’s stock.
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Minerals Technologies Company Profile
Minerals Technologies Inc is a resource- and technology-based company that develops, produces and markets a range of specialty mineral, mineral-based and synthetic mineral products and related systems and services around the world. It operates through four segments. The Specialty Minerals segment produces and sells the synthetic mineral product precipitated calcium carbonate (PCC), mines mineral ores, and processes and sells natural mineral products, primarily limestone and talc.
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