Minerals Technologies (NYSE:MTX) Announces Quarterly Earnings Results, Beats Expectations By $0.22 EPS

Minerals Technologies (NYSE:MTX) issued its earnings results on Thursday. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.22, Briefing.com reports. Minerals Technologies had a net margin of 3.88% and a return on equity of 10.26%. The business had revenue of $534.50 million during the quarter, compared to the consensus estimate of $545.55 million. During the same period last year, the business posted $1.14 EPS. Minerals Technologies’s revenue was down 2.1% on a year-over-year basis.

Minerals Technologies Stock Performance

Shares of MTX traded up $2.95 during mid-day trading on Friday, hitting $74.13. 113,138 shares of the company’s stock were exchanged, compared to its average volume of 150,710. Minerals Technologies has a 52 week low of $48.61 and a 52 week high of $78.04. The stock’s 50-day simple moving average is $72.75 and its 200-day simple moving average is $66.33. The firm has a market cap of $2.39 billion, a price-to-earnings ratio of 29.60 and a beta of 1.33. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.54.

Wall Street Analyst Weigh In

Several research analysts have weighed in on MTX shares. TheStreet raised shares of Minerals Technologies from a “c+” rating to a “b” rating in a report on Friday, February 2nd. Seaport Res Ptn raised shares of Minerals Technologies from a “neutral” rating to a “buy” rating in a report on Monday, February 5th. Finally, StockNews.com raised shares of Minerals Technologies from a “hold” rating to a “buy” rating in a report on Thursday, February 8th. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Minerals Technologies presently has an average rating of “Buy” and a consensus target price of $68.50.

Insider Transactions at Minerals Technologies

In other news, SVP Jonathan J. Hastings sold 12,922 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $71.48, for a total transaction of $923,664.56. Following the transaction, the senior vice president now directly owns 53,862 shares of the company’s stock, valued at $3,850,055.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Dj Monagle III sold 1,180 shares of Minerals Technologies stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $74.12, for a total value of $87,461.60. Following the transaction, the insider now directly owns 81,031 shares of the company’s stock, valued at $6,006,017.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jonathan J. Hastings sold 12,922 shares of Minerals Technologies stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $71.48, for a total transaction of $923,664.56. Following the completion of the transaction, the senior vice president now directly owns 53,862 shares in the company, valued at $3,850,055.76. The disclosure for this sale can be found here. Insiders own 3.50% of the company’s stock.

Minerals Technologies Company Profile

Minerals Technologies Inc develops, produces, and markets various mineral, mineral-based, and related systems and services. The company operates through two segments, Consumer & Specialties, and Engineered Solutions segments. The Consumer & Specialties segment offers household and personal care products, such as pet litter, personal care, fabric care, edible oil and other fluid purification, animal health, and agricultural products; and specialty additives products, including precipitated calcium carbonate and ground calcium carbonate products that are used in the paper, paperboard, and fiber based packaging industries, as well as automotive, construction, and table and food applications.