Minerals Technologies Inc. (NYSE:MTX) updated its fourth quarter earnings guidance on Friday. The company provided EPS guidance of $1.08 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.11.
A number of equities analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Minerals Technologies from a hold rating to a sell rating in a report on Thursday, August 10th. ValuEngine downgraded shares of Minerals Technologies from a buy rating to a hold rating in a report on Tuesday, July 25th.
Minerals Technologies Inc. (NYSE MTX) traded down $0.85 during midday trading on Friday, reaching $71.05. 113,405 shares of the company’s stock traded hands, compared to its average volume of 119,006. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.70 and a quick ratio of 1.98. The firm has a market capitalization of $2.52 billion, a PE ratio of 15.76 and a beta of 2.26.
Minerals Technologies (NYSE:MTX) last issued its quarterly earnings data on Thursday, November 2nd. The basic materials company reported $1.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.17 by $0.02. Minerals Technologies had a return on equity of 15.04% and a net margin of 9.62%. The business had revenue of $424.40 million during the quarter, compared to analysts’ expectations of $404.80 million. During the same period in the previous year, the firm posted $1.17 earnings per share. The company’s revenue was up 6.2% on a year-over-year basis. analysts anticipate that Minerals Technologies Inc. will post 4.6 earnings per share for the current fiscal year.
Minerals Technologies declared that its board has approved a stock buyback program on Thursday, September 21st that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the basic materials company to repurchase up to 6.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
In related news, insider Dj Monagle III sold 25,639 shares of the business’s stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $70.03, for a total transaction of $1,795,499.17. Following the completion of the transaction, the insider now directly owns 39,579 shares of the company’s stock, valued at approximately $2,771,717.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.20% of the company’s stock.
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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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