Minerals Technologies Inc. (MTX) Shares Gap Up to $63.01
Minerals Technologies Inc. (NYSE:MTX)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $62.72, but opened at $63.01. Minerals Technologies shares last traded at $64.16, with a volume of 40,258 shares.
A number of equities analysts recently weighed in on the stock. Wedbush downgraded shares of Minerals Technologies from an “outperform” rating to a “neutral” rating and set a $62.00 price target on the stock. in a report on Thursday, May 26th. TheStreet raised shares of Minerals Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, March 22nd. Finally, Zacks Investment Research downgraded shares of Minerals Technologies from a “hold” rating to a “sell” rating in a report on Saturday, July 9th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $66.67.
The firm has a market cap of $2.23 billion and a price-to-earnings ratio of 21.09. The company’s 50 day moving average is $58.04 and its 200-day moving average is $52.76.
Minerals Technologies (NYSE:MTX) last announced its quarterly earnings data on Thursday, May 5th. The company reported $1.02 EPS for the quarter, beating the consensus estimate of $0.97 by $0.05. The firm had revenue of $410.20 million for the quarter, compared to analysts’ expectations of $418.73 million. The business’s quarterly revenue was down 9.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.07 EPS. On average, analysts anticipate that Minerals Technologies Inc. will post $4.40 EPS for the current year.
In other Minerals Technologies news, VP Rick Honey sold 6,811 shares of the firm’s stock in a transaction on Monday, June 27th. The stock was sold at an average price of $52.95, for a total transaction of $360,642.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Several institutional investors recently modified their holdings of MTX. Wells Fargo & Company MN increased its position in shares of Minerals Technologies by 50.6% in the fourth quarter. Wells Fargo & Company MN now owns 28,888 shares of the company’s stock valued at $1,325,000 after buying an additional 9,706 shares during the last quarter. Morgan Stanley increased its position in shares of Minerals Technologies by 123.3% in the fourth quarter. Morgan Stanley now owns 418,460 shares of the company’s stock valued at $19,191,000 after buying an additional 231,085 shares during the last quarter. Mutual of America Capital Management LLC increased its position in shares of Minerals Technologies by 1.1% in the fourth quarter. Mutual of America Capital Management LLC now owns 23,415 shares of the company’s stock valued at $1,074,000 after buying an additional 254 shares during the last quarter. Liberty Mutual Group Asset Management Inc. increased its position in shares of Minerals Technologies by 51.7% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 22,389 shares of the company’s stock valued at $1,027,000 after buying an additional 7,627 shares during the last quarter. Finally, Boston Partners increased its position in shares of Minerals Technologies by 169.2% in the fourth quarter. Boston Partners now owns 808,068 shares of the company’s stock valued at $37,058,000 after buying an additional 507,884 shares during the last quarter.
Minerals Technologies Inc is a resource 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. It operates in five segments: Specialty Minerals, Refractories, Performance Materials, Construction Technologies and Energy Services.
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