Minerals Technologies Inc. (NYSE:MTX) will announce its earnings results after the market closes on Thursday, November 2nd. Analysts expect the company to announce earnings of $1.17 per share for the quarter.
Minerals Technologies (NYSE:MTX) last released its earnings results on Thursday, August 3rd. The basic materials company reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.01). The company had revenue of $414.10 million for the quarter, compared to analysts’ expectations of $427.21 million. Minerals Technologies had a return on equity of 15.04% and a net margin of 9.62%. On average, analysts expect Minerals Technologies to post $4.6 EPS for the current fiscal year and $5.04 EPS for the next fiscal year.
Shares of Minerals Technologies Inc. (MTX) opened at 71.90 on Wednesday. Minerals Technologies Inc. has a 1-year low of $62.55 and a 1-year high of $83.85. The stock’s 50 day moving average is $71.15 and its 200-day moving average is $71.44. The stock has a market cap of $2.52 billion, a PE ratio of 16.36 and a beta of 2.23.
Minerals Technologies announced that its Board of Directors has approved a stock buyback plan on Thursday, September 21st that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the basic materials company to reacquire up to 6.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
In related news, insider Dj Monagle III sold 25,639 shares of the firm’s stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of $70.03, for a total value of $1,795,499.17. Following the completion of the sale, the insider now owns 39,579 shares in the company, valued at $2,771,717.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.20% of the stock is owned by company insiders.
Several analysts recently commented on MTX shares. Zacks Investment Research upgraded shares of Minerals Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, October 25th. ValuEngine cut shares of Minerals Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th.
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About Minerals Technologies
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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