Minerals Technologies Inc. (MTX) Stock Price Down 2.1%
Minerals Technologies Inc. (NYSE:MTX)’s share price traded down 2.1% during trading on Friday . The company traded as low as $68.82 and last traded at $69.10, with a volume of 60,046 shares. The stock had previously closed at $70.60.
A number of equities research analysts have recently issued reports on the stock. Wedbush cut shares of Minerals Technologies from an “outperform” rating to a “neutral” rating and set a $62.00 target price on the stock. in a report on Thursday, May 26th. 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 report on Wednesday. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $69.50.
The company has a market cap of $2.40 billion and a PE ratio of 23.89. The firm’s 50-day moving average is $62.94 and its 200-day moving average is $56.42.
Minerals Technologies (NYSE:MTX) last posted its quarterly earnings results on Thursday, August 4th. The company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.04. During the same period last year, the firm posted $1.18 earnings per share. The company earned $427 million during the quarter, compared to the consensus estimate of $437.20 million. The company’s revenue for the quarter was down 7.9% on a year-over-year basis. Equities analysts anticipate that Minerals Technologies Inc. will post $4.48 earnings per share for the current year.
The business also recently declared 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 annualized dividend and a yield of 0.29%. The ex-dividend date of this dividend is Wednesday, August 24th.
In other Minerals Technologies news, CFO Douglas T. Dietrich sold 11,080 shares of Minerals Technologies 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 completion of the sale, the chief financial officer now directly owns 46,779 shares of the company’s stock, valued at $3,237,574.59. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Rick Honey sold 6,811 shares of Minerals Technologies 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.
A number of large investors recently bought and sold shares of the stock. Calvert Investment Management Inc. bought a new stake in Minerals Technologies during the fourth quarter valued at $2,012,000. Dimensional Fund Advisors LP boosted its position in shares of Minerals Technologies by 5.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,252,968 shares of the company’s stock worth $57,461,000 after buying an additional 62,845 shares in the last quarter. Trexquant Investment LP boosted its position 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 in the last quarter. Marshall Wace LLP boosted its position in shares of Minerals Technologies by 93.3% in the fourth quarter. Marshall Wace LLP now owns 177,526 shares of the company’s stock worth $8,141,000 after buying an additional 85,698 shares in the last quarter. Finally, Morgan Stanley boosted 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 worth $19,191,000 after buying an additional 231,085 shares in 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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