Minerals Technologies (NYSE:MTX) Hits New 52-Week High – What’s Next?

Minerals Technologies Inc. (NYSE:MTX) hit a new 52-week high on Thursday . The company traded as high as $80.99 and last traded at $79.2020, with a volume of 350946 shares. The stock had previously closed at $79.00.

Wall Street Analyst Weigh In

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

Minerals Technologies Stock Performance

The company’s fifty day moving average is $70.74 and its 200 day moving average is $65.72. The company has a current ratio of 2.13, a quick ratio of 1.47 and a debt-to-equity ratio of 0.54. The company has a market cap of $2.46 billion, a P/E ratio of 15.37 and a beta of 1.12.

Minerals Technologies (NYSE:MTX) last posted its quarterly earnings results on Thursday, April 30th. The basic materials company reported $1.38 earnings per share (EPS) 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 business had revenue of $546.90 million for the quarter, compared to analyst estimates of $516.39 million. During the same period last year, the company earned $1.14 EPS. Minerals Technologies’s revenue for the quarter was up 11.2% compared to the same quarter last year. As a group, equities analysts predict that Minerals Technologies Inc. will post 6.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Minerals Technologies

A number of large investors have recently made changes to their positions in the business. Parallel Advisors LLC boosted its stake in shares of Minerals Technologies by 36.0% during the 1st quarter. Parallel Advisors LLC now owns 552 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 146 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of Minerals Technologies by 10,630.5% during the first quarter. Fifth Third Bancorp now owns 15,130 shares of the basic materials company’s stock valued at $1,073,000 after purchasing an additional 14,989 shares in the last quarter. Isthmus Partners LLC lifted its holdings in shares of Minerals Technologies by 5.9% during the first quarter. Isthmus Partners LLC now owns 47,596 shares of the basic materials company’s stock valued at $3,376,000 after purchasing an additional 2,669 shares in the last quarter. DGS Capital Management LLC bought a new position in Minerals Technologies during the first quarter valued at approximately $218,000. Finally, QRG Capital Management Inc. bought a new position in Minerals Technologies during the first quarter valued at approximately $214,000. 97.29% of the stock is currently owned by institutional investors.

About Minerals Technologies

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.