Minerals Technologies (NYSE:MTX) Issues Earnings Results, Beats Expectations By $0.12 EPS

Minerals Technologies (NYSE:MTX) posted its quarterly earnings data on Thursday. The basic materials company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.12, FiscalAI reports. Minerals Technologies had a negative net margin of 0.89% and a positive return on equity of 10.22%.

Minerals Technologies Price Performance

NYSE:MTX traded up $1.44 during mid-day trading on Thursday, hitting $71.85. 185,907 shares of the stock traded hands, compared to its average volume of 191,200. The business’s 50-day moving average price is $70.27 and its 200 day moving average price is $65.19. The company has a market cap of $2.23 billion, a PE ratio of -140.88 and a beta of 1.19. Minerals Technologies has a 12-month low of $51.03 and a 12-month high of $75.29. The company has a quick ratio of 1.45, a current ratio of 2.08 and a debt-to-equity ratio of 0.55.

Analyst Ratings Changes

MTX has been the subject of a number of research analyst reports. Wall Street Zen downgraded shares of Minerals Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 18th. Weiss Ratings restated a “sell (d+)” rating on shares of Minerals Technologies in a report on Wednesday, April 22nd. Truist Financial raised their price objective on shares of Minerals Technologies from $84.00 to $89.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Finally, Zacks Research upgraded shares of Minerals Technologies from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 14th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $89.00.

Hedge Funds Weigh In On Minerals Technologies

Several hedge funds have recently bought and sold shares of MTX. Hsbc Holdings PLC lifted its position in Minerals Technologies by 4.5% during the fourth quarter. Hsbc Holdings PLC now owns 4,514 shares of the basic materials company’s stock valued at $276,000 after purchasing an additional 193 shares during the last quarter. Jain Global LLC lifted its position in Minerals Technologies by 6.4% during the fourth quarter. Jain Global LLC now owns 4,143 shares of the basic materials company’s stock valued at $253,000 after purchasing an additional 248 shares during the last quarter. Gotham Asset Management LLC lifted its position in Minerals Technologies by 2.5% during the fourth quarter. Gotham Asset Management LLC now owns 11,841 shares of the basic materials company’s stock valued at $722,000 after purchasing an additional 285 shares during the last quarter. California State Teachers Retirement System lifted its position in Minerals Technologies by 1.0% during the second quarter. California State Teachers Retirement System now owns 29,716 shares of the basic materials company’s stock valued at $1,636,000 after purchasing an additional 304 shares during the last quarter. Finally, Cetera Investment Advisers lifted its position in Minerals Technologies by 3.8% during the fourth quarter. Cetera Investment Advisers now owns 8,668 shares of the basic materials company’s stock valued at $528,000 after purchasing an additional 315 shares during the last quarter. Hedge funds and other institutional investors own 97.29% of the company’s stock.

About Minerals Technologies

Minerals Technologies Inc develops, produces and processes a broad range of mineral-based products and solutions that serve a variety of industrial applications. Its offerings include bentonite, perlite, precipitated calcium carbonate (PCC), mineral sands, foundry additives, performance minerals and specialty chemicals designed to enhance performance in markets such as paper, steel, construction, oil and gas, environmental remediation and consumer products.

The company operates through several business segments, including Specialty Minerals, Refractory Minerals, Performance Materials and Recycled Materials.