Seaport Res Ptn Has Bearish Forecast for MTX FY2024 Earnings

Minerals Technologies Inc. (NYSE:MTX) – Seaport Res Ptn reduced their FY2024 earnings estimates for shares of Minerals Technologies in a research note issued on Wednesday, January 22nd. Seaport Res Ptn analyst M. Harrison now anticipates that the basic materials company will earn $6.02 per share for the year, down from their prior forecast of $6.04. The consensus estimate for Minerals Technologies’ current full-year earnings is $6.05 per share. Seaport Res Ptn also issued estimates for Minerals Technologies’ Q4 2024 earnings at $1.36 EPS, Q1 2025 earnings at $1.57 EPS, Q2 2025 earnings at $1.80 EPS, Q3 2025 earnings at $1.71 EPS, Q4 2025 earnings at $1.62 EPS, FY2025 earnings at $6.70 EPS and FY2026 earnings at $7.68 EPS.

Separately, StockNews.com lowered shares of Minerals Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th.

Minerals Technologies Price Performance

Minerals Technologies stock opened at $76.30 on Thursday. Minerals Technologies has a 1 year low of $64.91 and a 1 year high of $90.29. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.72 and a current ratio of 2.46. The firm has a 50 day moving average price of $78.24 and a 200 day moving average price of $77.47. The company has a market cap of $2.43 billion, a price-to-earnings ratio of 16.17 and a beta of 1.31.

Minerals Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.58%. Minerals Technologies’s dividend payout ratio (DPR) is 9.32%.

Institutional Trading of Minerals Technologies

A number of institutional investors have recently modified their holdings of MTX. State Street Corp raised its holdings in Minerals Technologies by 2.6% in the third quarter. State Street Corp now owns 1,268,792 shares of the basic materials company’s stock valued at $97,989,000 after buying an additional 32,196 shares during the period. FMR LLC raised its stake in shares of Minerals Technologies by 64.2% in the 3rd quarter. FMR LLC now owns 1,234,719 shares of the basic materials company’s stock valued at $95,357,000 after acquiring an additional 482,674 shares during the period. Geode Capital Management LLC raised its stake in shares of Minerals Technologies by 3.8% in the 3rd quarter. Geode Capital Management LLC now owns 865,343 shares of the basic materials company’s stock valued at $66,841,000 after acquiring an additional 31,616 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Minerals Technologies by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 552,510 shares of the basic materials company’s stock valued at $42,670,000 after acquiring an additional 7,593 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in Minerals Technologies by 2.0% during the 3rd quarter. Principal Financial Group Inc. now owns 162,291 shares of the basic materials company’s stock worth $12,534,000 after purchasing an additional 3,230 shares during the period. Hedge funds and other institutional investors own 97.29% of the company’s stock.

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.