Minerals Technologies (NYSE:MTX) VP Sells $481,620.00 in Stock

Minerals Technologies Inc. (NYSE:MTX) VP Timothy Jordan sold 6,000 shares of Minerals Technologies stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $80.27, for a total transaction of $481,620.00. Following the completion of the transaction, the vice president owned 1,279 shares of the company’s stock, valued at $102,665.33. This trade represents a 82.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Minerals Technologies Stock Up 0.7%

MTX traded up $0.61 during trading hours on Wednesday, hitting $81.62. 43,826 shares of the company’s stock were exchanged, compared to its average volume of 200,540. Minerals Technologies Inc. has a 12-month low of $53.10 and a 12-month high of $82.67. The firm has a 50 day moving average of $71.31 and a 200 day moving average of $66.12. The firm has a market cap of $2.53 billion, a P/E ratio of 15.84 and a beta of 1.12. The company has a current ratio of 2.13, a quick ratio of 1.47 and a debt-to-equity ratio of 0.54.

Minerals Technologies (NYSE:MTX) last issued its quarterly earnings results on Thursday, April 30th. The basic materials company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.12. Minerals Technologies had a return on equity of 10.40% and a net margin of 7.60%.The company had revenue of $546.90 million for the quarter, compared to the consensus estimate of $516.39 million. During the same quarter in the prior year, the business earned $1.14 EPS. Minerals Technologies’s revenue was up 11.2% on a year-over-year basis. Analysts predict that Minerals Technologies Inc. will post 6.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MTX. Royal Bank of Canada grew its stake in Minerals Technologies by 28.4% during the 1st quarter. Royal Bank of Canada now owns 19,629 shares of the basic materials company’s stock worth $1,249,000 after buying an additional 4,337 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Minerals Technologies by 9.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 110,044 shares of the basic materials company’s stock worth $6,995,000 after buying an additional 9,363 shares during the last quarter. Jane Street Group LLC grew its stake in Minerals Technologies by 177.6% during the 1st quarter. Jane Street Group LLC now owns 68,156 shares of the basic materials company’s stock worth $4,333,000 after buying an additional 43,604 shares during the last quarter. Intech Investment Management LLC lifted its position in Minerals Technologies by 30.5% during the 1st quarter. Intech Investment Management LLC now owns 18,504 shares of the basic materials company’s stock worth $1,176,000 after acquiring an additional 4,322 shares during the period. Finally, Strs Ohio acquired a new stake in Minerals Technologies during the 1st quarter worth approximately $70,000. Hedge funds and other institutional investors own 97.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Seaport Research Partners reiterated a “buy” rating on shares of Minerals Technologies in a report on Monday, May 4th. Weiss Ratings upgraded Minerals Technologies from a “sell (d+)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Zacks Research upgraded Minerals Technologies from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 14th. Wall Street Zen upgraded Minerals Technologies from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 2nd. Finally, Truist Financial increased their price objective on Minerals Technologies from $89.00 to $90.00 and gave the company a “buy” rating in a report on Monday, May 4th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Minerals Technologies has an average rating of “Hold” and a consensus price target of $90.00.

Minerals Technologies Company Profile

Minerals Technologies Inc develops, produces and processes a broad range of mineral-based products and solutions that serve a variety of industrial applications. Its offerings include bentonite, perlite, precipitated calcium carbonate (PCC), mineral sands, foundry additives, performance minerals and specialty chemicals designed to enhance performance in markets such as paper, steel, construction, oil and gas, environmental remediation and consumer products.

The company operates through several business segments, including Specialty Minerals, Refractory Minerals, Performance Materials and Recycled Materials.