Shares of Minerals Technologies Inc (NYSE:MTX) have been assigned a consensus broker rating score of 2.00 (Buy) from the four analysts that cover the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a hold recommendation and two have issued a strong buy recommendation on the company.
Brokers have set a 12 month consensus target price of $77.00 for the company and are expecting that the company will post $1.09 EPS for the current quarter, according to Zacks. Zacks has also given Minerals Technologies an industry rank of 84 out of 265 based on the ratings given to its competitors.
MTX has been the subject of several research analyst reports. Zacks Investment Research upgraded Minerals Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, October 25th. KeyCorp reiterated a “hold” rating on shares of Minerals Technologies in a research report on Monday, November 6th.
Hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp increased its position in shares of Minerals Technologies by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 417,439 shares of the basic materials company’s stock valued at $30,557,000 after buying an additional 1,678 shares in the last quarter. FMR LLC purchased a new position in shares of Minerals Technologies in the second quarter valued at $1,183,000. Tocqueville Asset Management L.P. increased its position in shares of Minerals Technologies by 11.2% in the third quarter. Tocqueville Asset Management L.P. now owns 213,646 shares of the basic materials company’s stock valued at $15,094,000 after buying an additional 21,500 shares in the last quarter. GSA Capital Partners LLP purchased a new position in shares of Minerals Technologies in the second quarter valued at $423,000. Finally, Marshall Wace North America L.P. increased its position in shares of Minerals Technologies by 64.8% in the second quarter. Marshall Wace North America L.P. now owns 77,104 shares of the basic materials company’s stock valued at $5,629,000 after buying an additional 30,307 shares in the last quarter. Institutional investors and hedge funds own 94.16% of the company’s stock.
Minerals Technologies (NYSE:MTX) opened at $69.05 on Friday. The stock has a market capitalization of $2,404.95, a price-to-earnings ratio of 14.88 and a beta of 2.25. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.66 and a quick ratio of 1.98. Minerals Technologies has a 52-week low of $62.55 and a 52-week high of $83.85.
Minerals Technologies (NYSE:MTX) last released its quarterly earnings data on Thursday, November 2nd. The basic materials company reported $1.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.02. The firm had revenue of $424.40 million during the quarter, compared to analysts’ expectations of $404.80 million. Minerals Technologies had a return on equity of 14.61% and a net margin of 10.01%. Minerals Technologies’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.17 earnings per share. equities analysts expect that Minerals Technologies will post 4.58 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Shareholders of record on Monday, November 27th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.29%. The ex-dividend date was Friday, November 24th. Minerals Technologies’s payout ratio is 4.56%.
Minerals Technologies declared that its board has initiated a stock buyback program on Thursday, September 21st that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the basic materials company to buy up to 6.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
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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