Minerals Technologies Inc. (MTX) Sets New 52-Week High at $72.54
Minerals Technologies Inc. (NYSE:MTX) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $72.54 and last traded at $72.51, with a volume of 105,055 shares trading hands. The stock had previously closed at $71.33.
A number of research analysts recently issued reports on MTX shares. Wedbush cut shares of Minerals Technologies from an “outperform” rating to a “neutral” rating and set a $62.00 price objective on the stock. in a research note on Thursday, May 12th. Zacks Investment Research raised shares of Minerals Technologies from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a research note on Wednesday, August 10th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $69.50.
The company has a market cap of $2.53 billion and a PE ratio of 25.09. The firm has a 50 day moving average price of $68.17 and a 200-day moving average price of $59.38.
Minerals Technologies (NYSE:MTX) last released its earnings results on Thursday, August 4th. The company reported $1.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.04. The company earned $427 million during the quarter, compared to analysts’ expectations of $437.20 million. During the same quarter in the previous year, the firm earned $1.18 earnings per share. The firm’s revenue was down 7.9% compared to the same quarter last year. Equities analysts expect that Minerals Technologies Inc. will post $4.48 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 8th. Shareholders of record on Friday, August 26th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date of this dividend is Wednesday, August 24th.
In related news, VP Rick Honey sold 6,811 shares of the company’s stock in a transaction that occurred on Monday, June 27th. The shares were sold at an average price of $52.95, for a total transaction of $360,642.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jonathan J. Hastings sold 7,606 shares of the company’s stock in a transaction that occurred on Wednesday, August 31st. The shares were sold at an average price of $70.85, for a total transaction of $538,885.10. Following the sale, the insider now owns 18,565 shares in the company, valued at $1,315,330.25. The disclosure for this sale can be found here.
Minerals Technologies Inc is a resource-and technology-based company that develops, produces and markets worldwide a range of specialty mineral, mineral-based and synthetic mineral products and related systems and services. It has five segments. The Specialty Minerals, Performance Materials, and Construction Technologies segments produce and sell products and technologies based primarily upon the mineral products calcium carbonate, bentonite, talc, chromite and leonardite.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.