Minerals Technologies (NYSE:MTX) Reaches New 52-Week High at $78.46

Minerals Technologies Inc. (NYSE:MTX) shares reached a new 52-week high on Monday . The stock traded as high as $78.46 and last traded at $78.13, with a volume of 15546 shares. The stock had previously closed at $77.19.

Analyst Ratings Changes

MTX has been the topic of a number of analyst reports. Seaport Res Ptn upgraded shares of Minerals Technologies from a “neutral” rating to a “buy” rating in a report on Monday, February 5th. TheStreet raised Minerals Technologies from a “c+” rating to a “b” rating in a research note on Friday, February 2nd. Finally, StockNews.com raised Minerals Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, February 8th. Four research analysts have rated the stock with a buy rating, According to MarketBeat.com, Minerals Technologies currently has a consensus rating of “Buy” and an average target price of $68.50.

Minerals Technologies Stock Up 1.8 %

The company has a current ratio of 2.49, a quick ratio of 1.75 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $2.53 billion, a P/E ratio of 26.71 and a beta of 1.32. The stock’s 50-day simple moving average is $73.08 and its 200-day simple moving average is $67.59.

Minerals Technologies (NYSE:MTX) last released its earnings results on Thursday, April 25th. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.22. The company had revenue of $534.50 million during the quarter, compared to analyst estimates of $545.55 million. Minerals Technologies had a return on equity of 10.87% and a net margin of 4.35%. Minerals Technologies’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.14 earnings per share. As a group, research analysts predict that Minerals Technologies Inc. will post 6.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Jonathan J. Hastings sold 12,922 shares of Minerals Technologies stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $71.48, for a total value of $923,664.56. Following the sale, the senior vice president now owns 53,862 shares of the company’s stock, valued at approximately $3,850,055.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Jonathan J. Hastings sold 12,922 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $71.48, for a total transaction of $923,664.56. Following the completion of the transaction, the senior vice president now owns 53,862 shares in the company, valued at approximately $3,850,055.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Dj Monagle III sold 1,180 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $74.12, for a total value of $87,461.60. Following the completion of the sale, the insider now owns 81,031 shares in the company, valued at $6,006,017.72. The disclosure for this sale can be found here. 3.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MTX. Commonwealth Equity Services LLC bought a new position in shares of Minerals Technologies in the third quarter worth $235,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Minerals Technologies by 33.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,940 shares of the basic materials company’s stock worth $380,000 after purchasing an additional 1,734 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Minerals Technologies by 9.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 234,651 shares of the basic materials company’s stock valued at $12,849,000 after buying an additional 19,519 shares in the last quarter. Inspire Investing LLC increased its position in shares of Minerals Technologies by 3.2% during the third quarter. Inspire Investing LLC now owns 6,395 shares of the basic materials company’s stock valued at $350,000 after buying an additional 197 shares during the period. Finally, Skylands Capital LLC lifted its holdings in shares of Minerals Technologies by 65.7% in the third quarter. Skylands Capital LLC now owns 44,000 shares of the basic materials company’s stock worth $2,409,000 after buying an additional 17,450 shares in the last quarter. 97.29% of the stock is owned by institutional investors.

Minerals Technologies Company Profile

Minerals Technologies Inc develops, produces, and markets various mineral, mineral-based, and related systems and services. The company operates through two segments, Consumer & Specialties, and Engineered Solutions segments. The Consumer & Specialties segment offers household and personal care products, such as pet litter, personal care, fabric care, edible oil and other fluid purification, animal health, and agricultural products; and specialty additives products, including precipitated calcium carbonate and ground calcium carbonate products that are used in the paper, paperboard, and fiber based packaging industries, as well as automotive, construction, and table and food applications.