Minerals Technologies Inc. (MTX) Reaches New 1-Year High at $70.75
Shares of Minerals Technologies Inc. (NYSE:MTX) reached a new 52-week high during trading on Thursday . The stock traded as high as $70.75 and last traded at $70.62, with a volume of 54,072 shares trading hands. The stock had previously closed at $69.77.
Several research firms have recently commented on MTX. Zacks Investment Research raised Minerals Technologies from a “hold” rating to a “buy” rating and set a $78.00 price target for the company in a report on Wednesday. Wedbush cut Minerals Technologies from an “outperform” rating to a “neutral” rating and set a $62.00 price target for the company. in a report on Thursday, May 12th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Minerals Technologies currently has an average rating of “Buy” and a consensus price target of $69.50.
The stock has a market capitalization of $2.46 billion and a PE ratio of 24.43. The firm’s 50-day moving average is $62.69 and its 200-day moving average is $56.20.
Minerals Technologies (NYSE:MTX) last released its earnings results on Thursday, August 4th. The company reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.04. During the same quarter last year, the company earned $1.18 earnings per share. The firm earned $427 million during the quarter, compared to analyst estimates of $437.20 million. The business’s revenue for the quarter was down 7.9% on a year-over-year basis. On average, analysts predict that Minerals Technologies Inc. will post $4.46 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 8th. Shareholders of record on Friday, August 26th will be given a $0.05 dividend. The ex-dividend date is Wednesday, August 24th. This represents a $0.20 dividend on an annualized basis and a yield of 0.28%.
In other Minerals Technologies news, VP Michael Cipolla sold 8,267 shares of the company’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $69.21, for a total value of $572,159.07. Following the completion of the sale, the vice president now directly owns 27,181 shares in the company, valued at $1,881,197.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 disclosure for this sale can be found here.
Other large investors recently made changes to their positions in the company. Liberty Mutual Group Asset Management Inc. increased its stake 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 worth $1,027,000 after buying an additional 7,627 shares during the period. Mutual of America Capital Management LLC increased its stake 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 worth $1,074,000 after buying an additional 254 shares during the period. New York State Common Retirement Fund increased its stake in shares of 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 worth $1,541,000 after buying an additional 1,900 shares during the period. Calvert Investment Management Inc. bought a new stake in shares of Minerals Technologies during the fourth quarter worth approximately $2,012,000. Finally, Trexquant Investment LP increased its stake in shares of Minerals Technologies by 119.4% in the fourth quarter. Trexquant Investment LP now owns 71,100 shares of the company’s stock worth $3,261,000 after buying an additional 38,700 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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