Minerals Technologies Inc. (NYSE:MTX) – Research analysts at Gabelli reduced their FY2017 earnings per share estimates for Minerals Technologies in a report released on Friday, according to Zacks Investment Research. Gabelli analyst R. Morbelli now expects that the basic materials company will post earnings of $4.55 per share for the year, down from their previous forecast of $4.64. Gabelli also issued estimates for Minerals Technologies’ FY2018 earnings at $5.00 EPS, FY2019 earnings at $5.50 EPS and FY2020 earnings at $6.05 EPS.
Minerals Technologies (NYSE:MTX) last released its earnings results on Thursday, November 2nd. The basic materials company reported $1.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.02. The firm had revenue of $424.40 million during the quarter, compared to analysts’ expectations of $404.80 million. Minerals Technologies had a return on equity of 14.59% and a net margin of 9.48%. The company’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.17 EPS.
MTX has been the subject of a number of other research reports. KeyCorp reiterated a “hold” rating on shares of Minerals Technologies in a report on Monday, November 6th. Zacks Investment Research upgraded Minerals Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $80.00.
Minerals Technologies (NYSE MTX) traded down $0.60 during mid-day trading on Monday, reaching $69.25. The company’s stock had a trading volume of 165,620 shares, compared to its average volume of 140,611. The company has a market cap of $2,516.35, a PE ratio of 15.57 and a beta of 2.25. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.98 and a current ratio of 2.66. Minerals Technologies has a 52-week low of $62.55 and a 52-week high of $83.85.
Minerals Technologies declared that its board has approved a share repurchase program on Thursday, September 21st that allows the company to buyback $150.00 million in shares. This buyback authorization allows the basic materials company to reacquire up to 6.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Monday, November 27th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.29%. The ex-dividend date is Friday, November 24th. Minerals Technologies’s payout ratio is 4.56%.
In other news, insider Dj Monagle III sold 25,639 shares of the firm’s stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $70.03, for a total value of $1,795,499.17. Following the completion of the transaction, the insider now owns 39,579 shares in the company, valued at approximately $2,771,717.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.20% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Minerals Technologies by 9.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,471 shares of the basic materials company’s stock worth $108,000 after purchasing an additional 125 shares during the period. Victory Capital Management Inc. grew its holdings in Minerals Technologies by 17.6% during the second quarter. Victory Capital Management Inc. now owns 2,054 shares of the basic materials company’s stock worth $150,000 after purchasing an additional 307 shares during the period. Riverhead Capital Management LLC grew its holdings in Minerals Technologies by 69.0% during the second quarter. Riverhead Capital Management LLC now owns 2,197 shares of the basic materials company’s stock worth $161,000 after purchasing an additional 897 shares during the period. Quantbot Technologies LP grew its holdings in Minerals Technologies by 93.0% during the second quarter. Quantbot Technologies LP now owns 2,349 shares of the basic materials company’s stock worth $171,000 after purchasing an additional 1,132 shares during the period. Finally, First Mercantile Trust Co. grew its holdings in Minerals Technologies by 1.7% during the second quarter. First Mercantile Trust Co. now owns 2,420 shares of the basic materials company’s stock worth $177,000 after purchasing an additional 40 shares during the period. Institutional investors own 94.95% of the company’s stock.
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About Minerals Technologies
Minerals Technologies Inc is a resource- and technology-based company that develops, produces and markets a range of specialty mineral, mineral-based and synthetic mineral products and related systems and services around the world. It operates through four segments. The Specialty Minerals segment produces and sells the synthetic mineral product precipitated calcium carbonate (PCC), mines mineral ores, and processes and sells natural mineral products, primarily limestone and talc.
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