Minerals Technologies Inc. (MTX) Expected to Post FY2017 Earnings of $4.85 Per Share
Minerals Technologies Inc. (NYSE:MTX) – Analysts at Gabelli cut their FY2017 earnings per share estimates for shares of Minerals Technologies in a note issued to investors on Wednesday. Gabelli analyst R. Morbelli now anticipates that the firm will post earnings per share of $4.85 for the year, down from their prior estimate of $4.95. Gabelli also issued estimates for Minerals Technologies’ FY2018 earnings at $5.35 EPS and FY2019 earnings at $5.90 EPS.
Separately, Zacks Investment Research upgraded Minerals Technologies from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a research report on Wednesday, August 10th.
Shares of Minerals Technologies (NYSE:MTX) traded up 2.57% during mid-day trading on Thursday, hitting $73.80. The stock had a trading volume of 229,179 shares. Minerals Technologies has a 12 month low of $35.89 and a 12 month high of $74.05. The stock’s 50-day moving average is $68.54 and its 200 day moving average is $64.20. The company has a market cap of $2.58 billion, a PE ratio of 22.84 and a beta of 2.00.
In other Minerals Technologies news, insider Jonathan J. Hastings sold 7,606 shares of the company’s stock in a transaction dated Wednesday, August 31st. The stock was sold at an average price of $70.85, for a total value of $538,885.10. Following the completion of the sale, the insider now owns 18,565 shares in the company, valued at $1,315,330.25. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Douglas W. Mayger sold 2,825 shares of the company’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $70.77, for a total value of $199,925.25. Following the completion of the sale, the vice president now owns 26,585 shares of the company’s stock, valued at approximately $1,881,420.45. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company’s stock.
A number of hedge funds have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Minerals Technologies by 10.5% in the first quarter. BlackRock Inc. now owns 13,710 shares of the company’s stock worth $780,000 after buying an additional 1,305 shares during the last quarter. BlackRock Group LTD boosted its stake in shares of Minerals Technologies by 24.0% in the first quarter. BlackRock Group LTD now owns 23,174 shares of the company’s stock worth $1,318,000 after buying an additional 4,487 shares during the last quarter. State Street Corp boosted its stake in shares of Minerals Technologies by 0.5% in the first quarter. State Street Corp now owns 1,096,521 shares of the company’s stock worth $62,336,000 after buying an additional 5,756 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Minerals Technologies by 4.6% in the first quarter. Geode Capital Management LLC now owns 275,885 shares of the company’s stock worth $15,684,000 after buying an additional 12,111 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Minerals Technologies by 23.2% in the first quarter. Wellington Management Group LLP now owns 1,319,174 shares of the company’s stock worth $74,995,000 after buying an additional 248,125 shares during the last quarter. Institutional investors and hedge funds own 95.61% of the company’s stock.
About Minerals Technologies
Minerals Technologies Inc is a resource-and technology-based company that develops, produces and markets worldwide a range of specialty mineral, mineral-based and synthetic mineral products and related systems and services. It has five segments. The Specialty Minerals, Performance Materials, and Construction Technologies segments produce and sell products and technologies based primarily upon the mineral products calcium carbonate, bentonite, talc, chromite and leonardite.
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