Research Analysts Offer Predictions for Minerals Technologies Inc.’s Q3 2024 Earnings (NYSE:MTX)

Minerals Technologies Inc. (NYSE:MTX) – Seaport Res Ptn increased their Q3 2024 earnings per share (EPS) estimates for Minerals Technologies in a note issued to investors on Monday, April 29th. Seaport Res Ptn analyst M. Harrison now forecasts that the basic materials company will post earnings per share of $1.64 for the quarter, up from their previous forecast of $1.63. Seaport Res Ptn 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 have also commented on MTX. TheStreet upgraded Minerals Technologies from a “c+” rating to a “b” rating in a report on Friday, February 2nd. StockNews.com raised Minerals Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, February 8th. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $68.50.

Minerals Technologies Price Performance

NYSE MTX opened at $72.87 on Wednesday. The stock has a 50-day simple moving average of $72.86 and a 200 day simple moving average of $67.06. Minerals Technologies has a twelve month low of $48.61 and a twelve month high of $78.04. The stock has a market capitalization of $2.35 billion, a PE ratio of 25.21 and a beta of 1.33. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.75 and a current ratio of 2.49.

Minerals Technologies (NYSE:MTX) last released its earnings results on Thursday, April 25th. The basic materials company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.22. The firm had revenue of $534.50 million during the quarter, compared to analyst estimates of $545.55 million. Minerals Technologies had a net margin of 4.35% and a return on equity of 10.87%. The business’s revenue was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.14 EPS.

Insiders Place Their Bets

In related news, SVP Jonathan J. Hastings sold 12,922 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $71.48, for a total value of $923,664.56. Following the sale, the senior vice president now owns 53,862 shares of the company’s stock, valued at $3,850,055.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, SVP Jonathan J. Hastings sold 12,922 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $71.48, for a total value of $923,664.56. Following the sale, the senior vice president now owns 53,862 shares of the company’s stock, valued at approximately $3,850,055.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Dj Monagle III sold 1,180 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $74.12, for a total transaction of $87,461.60. Following the completion of the transaction, the insider now owns 81,031 shares in the company, valued at $6,006,017.72. The disclosure for this sale can be found here. Corporate insiders own 3.50% of the company’s stock.

Institutional Trading of Minerals Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC grew its stake in shares of Minerals Technologies by 97.9% during the fourth quarter. Parallel Advisors LLC now owns 556 shares of the basic materials company’s stock valued at $40,000 after purchasing an additional 275 shares during the last quarter. Skandinaviska Enskilda Banken AB publ bought a new position in Minerals Technologies in the 3rd quarter valued at $44,000. Acadian Asset Management LLC acquired a new stake in shares of Minerals Technologies in the 3rd quarter valued at $58,000. International Assets Investment Management LLC increased its stake in shares of Minerals Technologies by 1,266.0% in the 4th quarter. International Assets Investment Management LLC now owns 1,284 shares of the basic materials company’s stock valued at $92,000 after buying an additional 1,190 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of Minerals Technologies during the fourth quarter worth $158,000. 97.29% of the stock is currently owned by institutional investors and hedge funds.

About Minerals Technologies

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.