Minerals Technologies Downgraded by Zacks (MTX)
Minerals Technologies (NYSE:MTX) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research note issued on Tuesday. They currently have a $69.80 price target on the stock. Zacks‘s price target points to a potential upside of 13.35% from the company’s current price.
Separately, analysts at Wedbush initiated coverage on shares of Minerals Technologies in a research note on Monday, July 21st. They set an “outperform” rating on the stock. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Minerals Technologies has a consensus rating of “Buy” and a consensus price target of $71.90.
Shares of Minerals Technologies (NYSE:MTX) traded up 1.12% during mid-day trading on Tuesday, hitting $62.27. 87,298 shares of the company’s stock traded hands. Minerals Technologies has a 52-week low of $43.66 and a 52-week high of $67.35. The stock has a 50-day moving average of $62.1 and a 200-day moving average of $60.35. The company has a market cap of $2.149 billion and a P/E ratio of 27.22.
Minerals Technologies (NYSE:MTX) last announced its earnings results on Thursday, August 7th. The company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.20. The company had revenue of $421.10 million for the quarter, compared to the consensus estimate of $364.63 million. During the same quarter in the previous year, the company posted $0.63 earnings per share. The company’s revenue for the quarter was up 64.0% on a year-over-year basis. On average, analysts predict that Minerals Technologies will post $3.45 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, September 11th. Stockholders of record on Thursday, August 28th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.32%. The ex-dividend date is Tuesday, August 26th.
Minerals Technologies Inc is a resource- and technology-based company that develops, produces and markets worldwide a broad range of specialty mineral, mineral-based and synthetic mineral products and supporting systems and services.
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