Shares of Minerals Technologies Inc (NYSE:MTX) have earned an average broker rating score of 2.00 (Buy) from the four brokers that provide coverage for the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a hold recommendation and two have issued a strong buy recommendation on the company.
Analysts have set a 1-year consensus target price of $77.00 for the company and are forecasting that the company will post $1.09 EPS for the current quarter, according to Zacks. Zacks has also assigned Minerals Technologies an industry rank of 99 out of 265 based on the ratings given to related companies.
Several equities analysts recently issued reports on the stock. ValuEngine raised shares of Minerals Technologies from a “hold” rating to a “buy” rating in a report on Thursday. KeyCorp reissued a “hold” rating on shares of Minerals Technologies in a report on Monday, November 6th. Finally, Zacks Investment Research raised shares of Minerals Technologies from a “sell” rating to a “hold” rating in a report on Friday, September 15th.
Minerals Technologies (NYSE:MTX) last issued its earnings results on Thursday, November 2nd. The basic materials company reported $1.19 EPS for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.02. The business had revenue of $424.40 million for the quarter, compared to analyst estimates of $404.80 million. Minerals Technologies had a net margin of 9.48% and a return on equity of 14.59%. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period last year, the company posted $1.17 earnings per share. research analysts anticipate that Minerals Technologies will post 4.57 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Monday, November 27th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.28%. The ex-dividend date of this dividend was Friday, November 24th. Minerals Technologies’s payout ratio is 4.57%.
Minerals Technologies declared that its Board of Directors has initiated a stock buyback plan on Thursday, September 21st that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the basic materials company to purchase up to 6.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
A number of hedge funds have recently modified their holdings of MTX. Investment Counselors of Maryland LLC acquired a new stake in Minerals Technologies in the third quarter valued at approximately $14,577,000. Macquarie Group Ltd. boosted its stake in Minerals Technologies by 20.6% in the second quarter. Macquarie Group Ltd. now owns 1,082,223 shares of the basic materials company’s stock valued at $79,219,000 after acquiring an additional 184,867 shares in the last quarter. American Century Companies Inc. boosted its stake in Minerals Technologies by 16.6% in the third quarter. American Century Companies Inc. now owns 609,589 shares of the basic materials company’s stock valued at $43,067,000 after acquiring an additional 86,577 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in Minerals Technologies by 15.7% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 555,925 shares of the basic materials company’s stock valued at $39,277,000 after acquiring an additional 75,250 shares in the last quarter. Finally, Prudential Financial Inc. boosted its stake in Minerals Technologies by 87.5% in the third quarter. Prudential Financial Inc. now owns 119,724 shares of the basic materials company’s stock valued at $8,458,000 after acquiring an additional 55,878 shares in the last quarter. 94.16% of the stock is currently owned by institutional investors.
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Minerals Technologies Company Profile
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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