Minerals Technologies (NYSE:MTX) Announces Quarterly Earnings Results, Beats Estimates By $0.12 EPS

Key Points

• Beat estimates: Minerals Technologies reported Q EPS of $1.38, beating the $1.26 consensus by $0.12, while showing a positive return on equity of 10.22% despite a negative net margin of 0.89%.
• Shares rose to $71.85 on the news; the company has a market cap of $2.23 billion, a 12‑month trading range of $51.03–$75.29, and a negative trailing P/E of -140.88.
• Analyst coverage is mixed with an average rating of "Hold" and an average target price of $89, as individual firms' views span from sell to buy.

Minerals Technologies (NYSE:MTX - Get Free Report) announced its quarterly earnings results on Thursday. The basic materials company reported $1.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.26 by $0.12, FiscalAI reports. Minerals Technologies had a positive return on equity of 10.22% and a negative net margin of 0.89%.

Minerals Technologies Price Performance

Minerals Technologies stock traded up $1.44 during midday trading on Thursday, reaching $71.85. The company had a trading volume of 185,907 shares, compared to its average volume of 191,198. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.08 and a quick ratio of 1.45. Minerals Technologies has a 12-month low of $51.03 and a 12-month high of $75.29. The company has a market capitalization of $2.23 billion, a P/E ratio of -140.88 and a beta of 1.19. The firm's fifty day simple moving average is $70.27 and its 200-day simple moving average is $65.19.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on MTX shares. Weiss Ratings reiterated a "sell (d+)" rating on shares of Minerals Technologies in a research note on Wednesday, April 22nd. Truist Financial raised their price target on shares of Minerals Technologies from $84.00 to $89.00 and gave the company a "buy" rating in a research report on Monday, February 2nd. Zacks Research raised shares of Minerals Technologies from a "strong sell" rating to a "hold" rating in a research note on Wednesday, January 14th. Finally, Wall Street Zen lowered Minerals Technologies from a "strong-buy" rating to a "buy" rating in a research note on Saturday, April 18th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $89.00.

Institutional Trading of Minerals Technologies

Large investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its position in shares of Minerals Technologies by 626.8% in the second quarter. EverSource Wealth Advisors LLC now owns 596 shares of the basic materials company's stock valued at $33,000 after buying an additional 514 shares during the last quarter. Danske Bank A S acquired a new position in Minerals Technologies during the third quarter worth about $56,000. Strs Ohio purchased a new stake in Minerals Technologies during the 1st quarter valued at about $70,000. Smartleaf Asset Management LLC grew its stake in Minerals Technologies by 136.2% during the 2nd quarter. Smartleaf Asset Management LLC now owns 1,278 shares of the basic materials company's stock valued at $71,000 after acquiring an additional 737 shares in the last quarter. Finally, iSAM Funds UK Ltd acquired a new stake in Minerals Technologies in the 3rd quarter valued at about $124,000. 97.29% of the stock is currently owned by hedge funds and other institutional investors.

Minerals Technologies Company Profile

Minerals Technologies Inc develops, produces and processes a broad range of mineral-based products and solutions that serve a variety of industrial applications. Its offerings include bentonite, perlite, precipitated calcium carbonate (PCC), mineral sands, foundry additives, performance minerals and specialty chemicals designed to enhance performance in markets such as paper, steel, construction, oil and gas, environmental remediation and consumer products.

The company operates through several business segments, including Specialty Minerals, Refractory Minerals, Performance Materials and Recycled Materials.

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