Minerals Technologies Inc. (MTX) Sets New 52-Week High at $71.00
Minerals Technologies Inc. (NYSE:MTX) reached a new 52-week high on Thursday . The stock traded as high as $71.00 and last traded at $70.68, with a volume of 28,387 shares changing hands. The stock had previously closed at $70.37.
A number of equities research analysts recently commented on the company. Wedbush lowered Minerals Technologies from an “outperform” rating to a “neutral” rating and set a $62.00 price target on the stock. in a research report on Thursday, May 12th. Zacks Investment Research upgraded Minerals Technologies from a “hold” rating to a “buy” rating and set a $78.00 price target on the stock in a research report on Wednesday, August 10th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Minerals Technologies presently has an average rating of “Buy” and an average target price of $69.50.
The stock has a market cap of $2.47 billion and a PE ratio of 24.49. The stock has a 50-day moving average of $65.23 and a 200-day moving average of $57.52.
Minerals Technologies (NYSE:MTX) last issued its quarterly earnings data on Thursday, August 4th. The company reported $1.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.04. During the same quarter last year, the business earned $1.18 earnings per share. The company had revenue of $427 million for the quarter, compared to analyst estimates of $437.20 million. The company’s revenue was down 7.9% on a year-over-year basis. On average, analysts expect that Minerals Technologies Inc. will post $4.48 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 8th. Shareholders of record on Friday, August 26th will be given 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 yield of 0.28%.
In other news, VP Rick Honey sold 6,811 shares of Minerals Technologies stock in a transaction that occurred on Monday, June 27th. The shares were sold at an average price of $52.95, for a total value of $360,642.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Douglas W. Mayger sold 2,825 shares of Minerals Technologies stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $70.77, for a total transaction of $199,925.25. Following the completion of the sale, the vice president now owns 26,585 shares of the company’s stock, valued at $1,881,420.45. The disclosure for this sale can be found here.
Other large investors have added to or reduced their stakes in the company. Mutual of America Capital Management LLC increased its stake 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 worth $1,074,000 after buying an additional 254 shares during the last quarter. Calvert Investment Management Inc. acquired a new stake in Minerals Technologies during the fourth quarter worth $2,012,000. Dimensional Fund Advisors LP increased its stake in 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 during the last quarter. Finally, Morgan Stanley increased its stake in 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 during 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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