Minerals Technologies (NYSE:MTX) Issues Quarterly Earnings Results, Beats Expectations By $0.11 EPS

Minerals Technologies (NYSE:MTX) announced its quarterly earnings results on Thursday. The basic materials company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.11, Zacks reports. Minerals Technologies had a return on equity of 11.27% and a net margin of 7.20%.

Minerals Technologies Stock Performance

Shares of MTX traded up $0.17 during mid-day trading on Thursday, reaching $76.06. 247,445 shares of the company’s stock were exchanged, compared to its average volume of 147,260. The business’s fifty day simple moving average is $77.05 and its 200-day simple moving average is $76.88. The stock has a market capitalization of $2.43 billion, a PE ratio of 16.12 and a beta of 1.30. Minerals Technologies has a 52-week low of $67.92 and a 52-week high of $90.29. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.46 and a quick ratio of 1.72.

Minerals Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend is Friday, February 14th. Minerals Technologies’s dividend payout ratio is currently 9.32%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on MTX shares. StockNews.com cut shares of Minerals Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Truist Financial initiated coverage on shares of Minerals Technologies in a research note on Tuesday, January 28th. They issued a “buy” rating and a $103.00 price objective for the company.

Minerals Technologies Company Profile

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.