FY2022 Earnings Estimate for Minerals Technologies Inc. Issued By Seaport Res Ptn (NYSE:MTX)

Minerals Technologies Inc. (NYSE:MTXGet Rating) – Equities researchers at Seaport Res Ptn cut their FY2022 earnings per share (EPS) estimates for shares of Minerals Technologies in a report issued on Wednesday, September 14th. Seaport Res Ptn analyst M. Harrison now anticipates that the basic materials company will post earnings of $5.56 per share for the year, down from their previous forecast of $5.67. The consensus estimate for Minerals Technologies’ current full-year earnings is $5.52 per share. Seaport Res Ptn also issued estimates for Minerals Technologies’ Q4 2022 earnings at $1.30 EPS and FY2023 earnings at $6.21 EPS.

Minerals Technologies (NYSE:MTXGet Rating) last released its quarterly earnings data on Thursday, July 28th. The basic materials company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.04. The business had revenue of $577.00 million for the quarter, compared to analysts’ expectations of $533.65 million. Minerals Technologies had a return on equity of 11.44% and a net margin of 8.46%. Minerals Technologies’s quarterly revenue was up 26.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.29 earnings per share.

Other analysts have also issued research reports about the company. CL King lowered Minerals Technologies from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 30th. StockNews.com lowered Minerals Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, June 28th.

Minerals Technologies Stock Performance

MTX opened at $57.56 on Monday. The stock has a market cap of $1.88 billion, a PE ratio of 11.20 and a beta of 1.28. The company has a current ratio of 2.29, a quick ratio of 1.56 and a debt-to-equity ratio of 0.60. Minerals Technologies has a 1 year low of $54.61 and a 1 year high of $79.03. The stock’s 50 day simple moving average is $62.30 and its 200-day simple moving average is $63.42.

Minerals Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Friday, August 19th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date was Thursday, August 18th. Minerals Technologies’s dividend payout ratio is currently 3.89%.

Insiders Place Their Bets

In other news, VP Michael Cipolla sold 6,356 shares of the company’s stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $64.27, for a total transaction of $408,500.12. Following the transaction, the vice president now owns 32,286 shares of the company’s stock, valued at $2,075,021.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Minerals Technologies news, insider Jonathan J. Hastings sold 11,739 shares of the stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $65.67, for a total value of $770,900.13. Following the transaction, the insider now owns 44,468 shares of the company’s stock, valued at $2,920,213.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Michael Cipolla sold 6,356 shares of the business’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $64.27, for a total value of $408,500.12. Following the transaction, the vice president now owns 32,286 shares of the company’s stock, valued at $2,075,021.22. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,067 shares of company stock valued at $3,404,799. 3.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Minerals Technologies

A number of hedge funds have recently modified their holdings of the company. Verdence Capital Advisors LLC raised its position in shares of Minerals Technologies by 6.2% in the 1st quarter. Verdence Capital Advisors LLC now owns 3,532 shares of the basic materials company’s stock valued at $234,000 after acquiring an additional 207 shares during the period. Ellevest Inc. raised its position in shares of Minerals Technologies by 74.9% in the 2nd quarter. Ellevest Inc. now owns 488 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 209 shares during the period. Bank of Montreal Can raised its position in shares of Minerals Technologies by 3.3% in the 2nd quarter. Bank of Montreal Can now owns 6,827 shares of the basic materials company’s stock valued at $423,000 after acquiring an additional 219 shares during the period. Texas Permanent School Fund raised its holdings in Minerals Technologies by 1.0% during the 2nd quarter. Texas Permanent School Fund now owns 23,828 shares of the basic materials company’s stock worth $1,462,000 after buying an additional 225 shares during the period. Finally, Xponance Inc. raised its holdings in Minerals Technologies by 4.9% during the 2nd quarter. Xponance Inc. now owns 5,109 shares of the basic materials company’s stock worth $313,000 after buying an additional 240 shares during the period. 96.13% of the stock is currently owned by institutional investors and hedge funds.

About Minerals Technologies

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Minerals Technologies Inc develops, produces, and markets various specialty mineral, mineral-based, and synthetic mineral products, and supporting systems and services. The company operates through three segments: Performance Materials, Specialty Minerals and Refractories. The Performance Materials segment supplies bentonite and bentonite-related products, as well as leonardite.

Further Reading

Earnings History and Estimates for Minerals Technologies (NYSE:MTX)

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