Minerals Technologies (NYSE:MTX) Issues Earnings Results, Beats Expectations By $0.09 EPS

Key Points

• Minerals Technologies beat quarterly earnings expectations: EPS was $1.53 versus the $1.44 consensus, while revenue reached $554.9 million, slightly above estimates.
• The stock declined 0.2% to $61.80 despite the earnings beat. Analysts remain cautious, with a consensus “Reduce” rating and an average price target of $90.
• The company raised its quarterly dividend to $0.13 per share from $0.12, implying an annualized dividend of $0.52 and a yield of approximately 0.8%.

Minerals Technologies (NYSE:MTX - Get Free Report) posted its earnings results on Thursday. The basic materials company reported $1.53 earnings per share for the quarter, beating analysts' consensus estimates of $1.44 by $0.09, FiscalAI reports. Minerals Technologies had a negative net margin of 3.13% and a positive return on equity of 10.63%. The business had revenue of $554.90 million for the quarter, compared to analysts' expectations of $552.20 million.

Minerals Technologies Stock Down 0.2%

Shares of Minerals Technologies stock traded down $0.12 on Thursday, hitting $61.80. The company had a trading volume of 302,458 shares, compared to its average volume of 210,775. The firm has a market capitalization of $1.92 billion, a P/E ratio of -28.48 and a beta of 1.12. Minerals Technologies has a twelve month low of $53.94 and a twelve month high of $84.34. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.43 and a quick ratio of 1.00. The stock has a 50-day moving average of $67.12 and a 200-day moving average of $71.37.

Minerals Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Thursday, November 5th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Thursday, November 5th. This is an increase from Minerals Technologies's previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a yield of 0.8%. Minerals Technologies's payout ratio is presently -22.12%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Zacks Research cut shares of Minerals Technologies from a "hold" rating to a "strong sell" rating in a research note on Wednesday, October 14th. Weiss Ratings lowered Minerals Technologies from a "sell (d+)" rating to a "sell (d)" rating in a research note on Tuesday. Finally, Wall Street Zen lowered Minerals Technologies from a "strong-buy" rating to a "hold" rating in a research note on Saturday, August 8th. One analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Reduce" and an average price target of $90.00.

Minerals Technologies Company Profile

Minerals Technologies Inc NYSE: MTX is a global specialty minerals and materials company that develops, produces and markets mineral-based products and engineered solutions for industrial and consumer applications. Its products are used in industries including paper and packaging, construction, environmental services, agriculture, food, personal care and automotive manufacturing.

The company supplies materials such as precipitated calcium carbonate, talc, bentonite, perlite and other specialty minerals.

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