Minerals Technologies Inc (MTX) reported quarterly earnings results on Thursday, Aug-4-2016. The company said it had a profit of $1.20 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.04. Analysts had a consensus of $1.16. The company posted revenue of $427.00 million in the period, compared to analysts expectations of $437.23 million. The company’s revenue was down -7.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.18 EPS.
Many Wall Street Analysts have commented on Minerals Technologies Inc. Wedbush Downgraded Minerals Technologies Inc on May 12, 2016 to ” Neutral”, Price Target of the shares are set at $62.
Minerals Technologies Inc closed down -0.39 points or -0.60% at $64.87 with 1,38,159 shares getting traded on Tusday. Post opening the session at $65.4, the shares hit an intraday low of $64.83 and an intraday high of $65.6 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.
Investors should note that on Jul 20, 2016, Minerals Technologies Inc announced a cash dividend of $0.0500. The company’s management has announced Aug 24, 2016 as the ex-dividend date and fixed the record date on Aug 26, 2016. The payable date has been fixed on Sep 8, 2016.
In a different news, on Jul 1, 2016, Rick Honey (Vice President) sold 6,811 shares at $55.80 per share price. According to the SEC, on Feb 16, 2016, Michael Cipolla (VICE PRESIDENT) sold 170 shares at $44.46 per share price. On Feb 11, 2016, Johannes C Schut (Vice President) sold 9,090 shares at $44.72 per share price, according to the Form-4 filing with the securities and exchange commission.
Minerals Technologies Inc. is a resource-based and technology-based company that develops produces and markets a range of specialty mineral mineral-based and synthetic mineral products and supporting systems and services. The Company operates through five segments: Specialty Minerals which produces and sells the synthetic mineral product precipitated calcium carbonate (PCC) and processed mineral product quicklime (lime); Refractories which produces and markets monolithic and shaped refractory materials and specialty products; Performance Materials which includes the supply of bentonite and bentonite-related products; Construction Technologies which provides products for non-residential construction environmental and infrastructure projects and Energy Services which offers a range of technologies products and services for all phases of oil and gas production refining and storage.