Minerals Technologies Inc. (MTX) Hits New 52-Week High at $72.54
Minerals Technologies Inc. (NYSE:MTX) 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 changing hands. The stock had previously closed at $71.33.
A number of equities research analysts have recently issued reports on MTX shares. Zacks Investment Research upgraded 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. Wedbush lowered shares of Minerals Technologies from an “outperform” rating to a “neutral” rating and set a $62.00 target price on the stock. in a research note on Thursday, May 26th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $69.50.
The firm has a 50 day moving average of $68.17 and a 200-day moving average of $59.38. The firm has a market cap of $2.53 billion and a PE ratio of 25.09.
Minerals Technologies (NYSE:MTX) last announced its quarterly earnings results on Thursday, August 4th. The company reported $1.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.04. During the same quarter last year, the company earned $1.18 EPS. The business had revenue of $427 million for the quarter, compared to analyst estimates of $437.20 million. The business’s revenue for the quarter was down 7.9% compared to the same quarter last year. Equities research analysts expect that Minerals Technologies Inc. will post $4.48 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 8th. Stockholders of record on Friday, August 26th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, August 24th. This represents a $0.20 annualized dividend and a dividend yield of 0.28%.
In related news, CFO Douglas T. Dietrich sold 11,080 shares of the firm’s stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $69.21, for a total value of $766,846.80. Following the transaction, the chief financial officer now directly owns 46,779 shares in the company, valued at approximately $3,237,574.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Rick Honey sold 6,811 shares of the firm’s stock in a transaction on Monday, June 27th. The shares were sold at an average price of $52.95, for a total transaction of $360,642.45. 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.
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