Minerals Technologies (NYSE:MTX) Announces Quarterly Earnings Results, Beats Expectations By $0.22 EPS

Minerals Technologies (NYSE:MTX) issued its quarterly earnings results on Thursday. The basic materials company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.27 by $0.22, Briefing.com reports. The firm had revenue of $534.50 million during the quarter, compared to analysts’ expectations of $545.55 million. Minerals Technologies had a return on equity of 10.94% and a net margin of 4.35%. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.14 earnings per share.

Minerals Technologies Trading Up 3.5 %

Shares of Minerals Technologies stock opened at $73.70 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.40 and a quick ratio of 1.69. The business has a fifty day simple moving average of $72.78 and a two-hundred day simple moving average of $66.60. Minerals Technologies has a 1 year low of $48.61 and a 1 year high of $78.04. The company has a market capitalization of $2.38 billion, a price-to-earnings ratio of 25.50 and a beta of 1.33.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on MTX shares. StockNews.com raised Minerals Technologies from a “hold” rating to a “buy” rating in a report on Thursday, February 8th. TheStreet raised shares of Minerals Technologies from a “c+” rating to a “b” rating in a report on Friday, February 2nd. Finally, Seaport Res Ptn upgraded shares of Minerals Technologies from a “neutral” rating to a “buy” rating in a research note on Monday, February 5th. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $68.50.

Insider Buying and Selling at Minerals Technologies

In other news, SVP Jonathan J. Hastings sold 12,922 shares of the firm’s 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 sale, the senior vice president now owns 53,862 shares in the company, valued at approximately $3,850,055.76. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Minerals Technologies news, insider Dj Monagle III sold 1,180 shares of the stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $74.12, for a total transaction of $87,461.60. Following the transaction, the insider now owns 81,031 shares in the company, valued at approximately $6,006,017.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jonathan J. Hastings sold 12,922 shares of the business’s 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 sale, the senior vice president now directly owns 53,862 shares of the company’s stock, valued at approximately $3,850,055.76. The disclosure for this sale can be found here. Corporate insiders own 3.50% of the company’s stock.

Minerals Technologies Company Profile

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.