Analysts Set Expectations for Minerals Technologies Inc.'s Q3 2024 Earnings (NYSE:MTX)

Minerals Technologies Inc. (NYSE:MTX - Free Report) - Research analysts at Seaport Res Ptn boosted their Q3 2024 earnings per share estimates for shares of Minerals Technologies in a report released on Monday, April 29th. Seaport Res Ptn analyst M. Harrison now expects that the basic materials company will earn $1.64 per share for the quarter, up from their previous forecast of $1.63. Seaport Res Ptn currently has a "Buy" rating on the stock. The consensus estimate for Minerals Technologies' current full-year earnings is $6.14 per share. Seaport Res Ptn also issued estimates for Minerals Technologies' Q4 2024 earnings at $1.52 EPS, Q2 2025 earnings at $1.87 EPS, Q4 2025 earnings at $1.75 EPS and FY2025 earnings at $7.25 EPS.

A number of other research analysts also recently weighed in on the company. TheStreet raised Minerals Technologies from a "c+" rating to a "b" rating in a research note on Friday, February 2nd. StockNews.com raised Minerals Technologies from a "hold" rating to a "buy" rating in a research note on Thursday, February 8th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $68.50.

Minerals Technologies Trading Up 1.1 %

Shares of Minerals Technologies stock traded up $0.81 on Wednesday, hitting $73.70. 191,714 shares of the company's stock traded hands, compared to its average volume of 152,997. Minerals Technologies has a one year low of $48.61 and a one year high of $78.04. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.49 and a quick ratio of 1.75. The company has a fifty day moving average of $72.90 and a two-hundred day moving average of $67.11. The company has a market capitalization of $2.38 billion, a price-to-earnings ratio of 25.50 and a beta of 1.33.

Minerals Technologies (NYSE:MTX - Get Free Report) last announced its earnings results on Thursday, April 25th. The basic materials company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.27 by $0.22. Minerals Technologies had a return on equity of 10.87% and a net margin of 4.35%. The company had revenue of $534.50 million for the quarter, compared to analyst estimates of $545.55 million. During the same quarter in the prior year, the company earned $1.14 EPS. The firm's revenue for the quarter was down 2.1% compared to the same quarter last year.

Institutional Trading of Minerals Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the business. Capstone Investment Advisors LLC purchased a new stake in shares of Minerals Technologies during the first quarter valued at approximately $223,000. BNP Paribas Financial Markets increased its position in Minerals Technologies by 27.6% in the first quarter. BNP Paribas Financial Markets now owns 44,236 shares of the basic materials company's stock worth $3,330,000 after buying an additional 9,580 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Minerals Technologies by 10.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 514,036 shares of the basic materials company's stock worth $38,697,000 after buying an additional 48,378 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Minerals Technologies by 52.5% in the first quarter. Assenagon Asset Management S.A. now owns 195,608 shares of the basic materials company's stock worth $14,725,000 after buying an additional 67,379 shares during the last quarter. Finally, New Mexico Educational Retirement Board purchased a new stake in Minerals Technologies in the first quarter worth $527,000. 97.29% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Minerals Technologies

In other news, insider Dj Monagle III sold 1,180 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $74.12, for a total value of $87,461.60. Following the completion of the sale, 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 document filed with the SEC, which is accessible through the SEC website. In related news, SVP Jonathan J. Hastings sold 12,922 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $71.48, for a total transaction of $923,664.56. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dj Monagle III sold 1,180 shares of the 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 sale, the insider now directly owns 81,031 shares of the company's stock, valued at $6,006,017.72. The disclosure for this sale can be found here. Company 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.