Minerals Technologies (NYSE:MTX) Research Coverage Started at Seaport Global Securities

Seaport Global Securities initiated coverage on shares of Minerals Technologies (NYSE:MTX) in a research note released on Monday, 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.

Several other equities analysts also recently commented on the stock. JPMorgan Chase & Co. raised shares of Minerals Technologies from a neutral rating to an overweight rating in a research note on Monday, August 3rd. They noted that the move was a valuation call. Zacks Investment Research raised shares of Minerals Technologies from a sell rating to a hold rating in a research note on Tuesday, August 4th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $57.33.

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

Minerals Technologies (NYSE:MTX) last issued its quarterly earnings data on Thursday, July 30th. The basic materials company reported $0.85 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.87 by ($0.02). The company 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, equities research analysts forecast that Minerals Technologies will post 3.79 earnings per share for the current year.

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

Several hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its stake in shares of Minerals Technologies by 1.1% during the second quarter. Russell Investments Group Ltd. now owns 27,596 shares of the basic materials company’s stock valued at $1,293,000 after acquiring an additional 299 shares during the last quarter. Signaturefd LLC raised its stake in Minerals Technologies by 95.0% during the second quarter. Signaturefd LLC now owns 852 shares of the basic materials company’s stock worth $40,000 after buying an additional 415 shares during the last quarter. Legal & General Group Plc raised its stake in Minerals Technologies by 0.9% during the first quarter. Legal & General Group Plc now owns 52,076 shares of the basic materials company’s stock worth $1,889,000 after buying an additional 467 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Minerals Technologies by 14.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,792 shares of the basic materials company’s stock worth $178,000 after buying an additional 483 shares during the last quarter. Finally, Swiss National Bank raised its stake in Minerals Technologies by 0.7% during the first quarter. Swiss National Bank now owns 67,600 shares of the basic materials company’s stock worth $2,451,000 after buying an additional 500 shares during the last quarter. 96.03% of the stock is owned by hedge funds and other institutional investors.

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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