Minerals Technologies (NYSE:MTX) Releases Quarterly Earnings Results

Minerals Technologies (NYSE:MTX) announced its earnings results on Thursday. The basic materials company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.12, FiscalAI reports. Minerals Technologies had a return on equity of 10.47% and a net margin of 7.60%.The firm had revenue of $546.90 million for the quarter, compared to the consensus estimate of $516.39 million. During the same quarter in the previous year, the business earned $1.14 EPS. The company’s revenue was up 11.2% compared to the same quarter last year.

Minerals Technologies Stock Performance

NYSE MTX opened at $76.02 on Friday. Minerals Technologies has a 52-week low of $51.87 and a 52-week high of $76.71. The company has a fifty day moving average of $70.26 and a 200-day moving average of $65.23. The company has a market capitalization of $2.36 billion, a P/E ratio of -149.06 and a beta of 1.12. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.45 and a current ratio of 2.08.

Institutional Trading of Minerals Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of MTX. Hsbc Holdings PLC grew its position in Minerals Technologies by 4.5% during the 4th quarter. Hsbc Holdings PLC now owns 4,514 shares of the basic materials company’s stock worth $276,000 after acquiring an additional 193 shares during the last quarter. Invesco Ltd. increased its stake in Minerals Technologies by 6.8% in the 4th quarter. Invesco Ltd. now owns 134,906 shares of the basic materials company’s stock worth $8,223,000 after purchasing an additional 8,535 shares during the period. Mercer Global Advisors Inc. ADV lifted its position in Minerals Technologies by 19.3% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 7,060 shares of the basic materials company’s stock valued at $430,000 after purchasing an additional 1,141 shares during the last quarter. EP Wealth Advisors LLC purchased a new stake in shares of Minerals Technologies during the fourth quarter valued at approximately $275,000. Finally, Mackenzie Financial Corp purchased a new stake in shares of Minerals Technologies during the fourth quarter valued at approximately $217,000. Hedge funds and other institutional investors own 97.29% of the company’s stock.

Wall Street Analyst Weigh In

MTX has been the topic of a number of recent research reports. Zacks Research raised Minerals Technologies from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 14th. Truist Financial boosted their price objective on Minerals Technologies from $84.00 to $89.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Wall Street Zen raised shares of Minerals Technologies from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Minerals Technologies in a research report on Wednesday, April 22nd. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $89.00.

Key Stories Impacting Minerals Technologies

Here are the key news stories impacting Minerals Technologies this week:

• Positive Sentiment: Q1 beats on both EPS and revenue — Minerals Technologies reported $1.38 EPS (beats consensus ~$1.25–$1.26) and revenue of $546.9M (vs. ~$516M est.), with revenue up ~11.2% year-over-year. These beats are the primary driver of the positive market reaction. Read More.
• Neutral Sentiment: Management hosted a conference call and posted a slide deck with operational detail and segment commentary — helpful for judging sustainability of margins and outlook, but no material guidance change was announced in the releases. Read More.
• Negative Sentiment: Reported EPS includes special items — GAAP EPS was $1.17, or $1.38 excluding special items, which suggests one-time items reduced headline results and warrants checking the nature of those adjustments. Also note a modest negative net margin reported in summaries, which investors should monitor for profitability consistency. Read More.

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.