Minerals Technologies (NYSE:MTX) Sets New 12-Month High on Strong Earnings

Key Points

• Minerals Technologies shares hit a new 52-week high after reporting a quarterly beat — EPS of $1.38 vs. $1.26 expected and revenue of $546.9M vs. $516.4M expected, with revenue up 11.2% year‑over‑year.
• Analyst views are mixed but the consensus is a Hold with an average price target of $89; Truist raised its target to $89 and kept a "Buy," while Weiss reiterated a "Sell."
• Institutional investors own about 97.29% of shares and several major funds increased stakes, while the company has a $2.3B market cap, debt/equity of 0.55 and a negative net margin (-0.89%) and PE (-145.10).

Minerals Technologies Inc. (NYSE:MTX - Get Free Report) shares hit a new 52-week high during trading on Friday following a better than expected earnings announcement. The stock traded as high as $76.71 and last traded at $74.51, with a volume of 36578 shares. The stock had previously closed at $71.94.

The basic materials company reported $1.38 EPS for the quarter, beating analysts' consensus estimates of $1.26 by $0.12. The company had revenue of $546.90 million during the quarter, compared to analysts' expectations of $516.39 million. Minerals Technologies had a positive return on equity of 10.22% and a negative net margin of 0.89%.The firm's revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.14 EPS.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. American Century Companies Inc. raised its stake in shares of Minerals Technologies by 3.1% in the third quarter. American Century Companies Inc. now owns 1,324,392 shares of the basic materials company's stock worth $82,271,000 after purchasing an additional 39,860 shares during the last quarter. State Street Corp raised its stake in shares of Minerals Technologies by 0.5% in the fourth quarter. State Street Corp now owns 1,221,398 shares of the basic materials company's stock worth $74,444,000 after purchasing an additional 6,458 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Minerals Technologies by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 897,850 shares of the basic materials company's stock worth $54,732,000 after purchasing an additional 4,693 shares during the last quarter. Brandes Investment Partners LP raised its stake in shares of Minerals Technologies by 22.9% in the fourth quarter. Brandes Investment Partners LP now owns 819,908 shares of the basic materials company's stock worth $49,973,000 after purchasing an additional 152,950 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Minerals Technologies by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 597,297 shares of the basic materials company's stock worth $36,405,000 after purchasing an additional 15,467 shares during the last quarter. Hedge funds and other institutional investors own 97.29% of the company's stock.

Minerals Technologies Stock Up 2.9%

The company has a 50 day moving average price of $70.26 and a two-hundred day moving average price of $65.23. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.08 and a quick ratio of 1.45. The stock has a market cap of $2.30 billion, a PE ratio of -145.10 and a beta of 1.19.

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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