Minerals Technologies Inc. (MTX) Shares Gap Up to $67.78
Minerals Technologies Inc. (NYSE:MTX)’s share price gapped up prior to trading on Monday . The stock had previously closed at $67.31, but opened at $67.78. Minerals Technologies shares last traded at $70.07, with a volume of 155,928 shares trading hands.
Separately, Wedbush cut Minerals Technologies from an “outperform” rating to a “neutral” rating and set a $62.00 price target for the company. in a research report on Thursday, May 26th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. Minerals Technologies presently has an average rating of “Hold” and an average target price of $66.67.
The company has a market capitalization of $2.45 billion and a P/E ratio of 24.38. The firm’s 50-day moving average is $61.70 and its 200 day moving average is $55.78.
Minerals Technologies (NYSE:MTX) last released its quarterly earnings data on Thursday, August 4th. The company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.04. During the same period last year, the company posted $1.18 earnings per share. The business earned $427 million during the quarter, compared to the consensus estimate of $437.20 million. The business’s revenue was down 7.9% compared to the same quarter last year. On average, equities analysts anticipate that Minerals Technologies Inc. will post $4.42 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 8th. Investors of record on Friday, August 26th will be given a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, August 24th. This represents a $0.20 annualized dividend and a yield of 0.28%.
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 stock was sold at an average price of $52.95, for a total value of $360,642.45. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
A number of institutional investors have added to or reduced their stakes in MTX. Liberty Mutual Group Asset Management Inc. boosted its position in 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 period. Mutual of America Capital Management LLC boosted its position in 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 period. New York State Common Retirement Fund boosted its position in Minerals Technologies by 6.0% in the fourth quarter. New York State Common Retirement Fund now owns 33,600 shares of the company’s stock valued at $1,541,000 after buying an additional 1,900 shares during the period. Trexquant Investment LP boosted its position in Minerals Technologies by 119.4% in the fourth quarter. Trexquant Investment LP now owns 71,100 shares of the company’s stock valued at $3,261,000 after buying an additional 38,700 shares during the period. Finally, Rhumbline Advisers boosted its position in Minerals Technologies by 3.5% in the fourth quarter. Rhumbline Advisers now owns 74,051 shares of the company’s stock valued at $3,396,000 after buying an additional 2,535 shares during the period.
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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