Minerals Technologies (NYSE:MTX) Now Covered by Analysts at Seaport Global Securities

Seaport Global Securities assumed coverage on shares of Minerals Technologies (NYSE:MTX) in a research report report published on Monday morning, Benzinga reports. The firm issued a buy rating and a $65.00 price objective on the basic materials company’s stock. Seaport Global Securities also issued estimates for Minerals Technologies’ Q3 2020 earnings at $0.86 EPS, Q4 2020 earnings at $0.95 EPS, FY2020 earnings at $3.81 EPS, Q1 2021 earnings at $1.05 EPS, Q2 2021 earnings at $1.08 EPS, Q3 2021 earnings at $1.13 EPS, Q4 2021 earnings at $1.06 EPS and FY2021 earnings at $4.35 EPS.

A number of other brokerages have also weighed in on MTX. Zacks Investment Research upgraded Minerals Technologies from a sell rating to a hold rating in a research note on Tuesday, August 4th. JPMorgan Chase & Co. upgraded Minerals Technologies from a neutral rating to an overweight rating in a research report on Monday, August 3rd. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. Minerals Technologies has an average rating of Buy and a consensus target price of $57.33.

MTX stock opened at $48.10 on Monday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.74 and a quick ratio of 1.21. The business has a 50-day moving average price of $50.89 and a 200 day moving average price of $44.88. The company has a market capitalization of $1.64 billion, a P/E ratio of 13.94, a PEG ratio of 2.97 and a beta of 1.74. Minerals Technologies has a 1-year low of $27.28 and a 1-year high of $59.18.

Minerals Technologies (NYSE:MTX) last released its quarterly earnings data on Thursday, July 30th. The basic materials company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.02). The firm had revenue of $357.20 million during the quarter, compared to the consensus estimate of $402.52 million. Minerals Technologies had a net margin of 7.21% and a return on equity of 9.67%. On average, analysts anticipate that Minerals Technologies will post 3.79 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Friday, August 21st were given a $0.05 dividend. The ex-dividend date of this dividend was Thursday, August 20th. This represents a $0.20 annualized dividend and a yield of 0.42%. Minerals Technologies’s dividend payout ratio is presently 4.73%.

Hedge funds have recently made changes to their positions in the company. AXA raised its stake in shares of Minerals Technologies by 7.4% during the 1st quarter. AXA now owns 115,600 shares of the basic materials company’s stock worth $4,192,000 after buying an additional 8,000 shares during the period. Rhumbline Advisers raised its stake in shares of Minerals Technologies by 3.2% during the 1st quarter. Rhumbline Advisers now owns 129,740 shares of the basic materials company’s stock worth $4,704,000 after buying an additional 3,976 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of Minerals Technologies during the 2nd quarter worth approximately $1,831,000. Canada Pension Plan Investment Board acquired a new position in shares of Minerals Technologies during the 2nd quarter worth approximately $1,389,000. Finally, State of Tennessee Treasury Department raised its stake in shares of Minerals Technologies by 10.3% during the 1st quarter. State of Tennessee Treasury Department now owns 60,598 shares of the basic materials company’s stock worth $2,197,000 after buying an additional 5,667 shares during the period. 96.03% of the stock is owned by institutional investors and hedge funds.

Minerals Technologies Company Profile

Minerals Technologies Inc develops, produces, and markets various specialty mineral, mineral-based, and synthetic mineral products, and supporting systems and services worldwide. The company's Specialty Minerals segment produces and sells precipitated calcium carbonate and quicklime; and provides natural mineral products comprising limestone and talc.

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