Minerals Technologies (NYSE:MTX) Sets New 1-Year High at $78.46

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

Wall Street Analysts Forecast Growth

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

Minerals Technologies Trading Up 1.6 %

The firm's 50-day simple moving average is $73.22 and its 200-day simple moving average is $67.77. The company has a quick ratio of 1.75, a current ratio of 2.49 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $2.53 billion, a PE ratio of 27.15 and a beta of 1.32.

Minerals Technologies (NYSE:MTX - Get Free Report) last announced its earnings results on Thursday, April 25th. The basic materials company reported $1.49 earnings per share for the quarter, beating analysts' consensus estimates of $1.27 by $0.22. Minerals Technologies had a net margin of 4.35% and a return on equity of 10.87%. The business had revenue of $534.50 million during the quarter, compared to the consensus estimate of $545.55 million. During the same quarter last year, the firm earned $1.14 earnings per share. The business's revenue for the quarter was down 2.1% on a year-over-year basis. Equities analysts expect that Minerals Technologies Inc. will post 6.29 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Jonathan J. Hastings sold 12,922 shares of Minerals Technologies stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $71.48, for a total transaction of $923,664.56. Following 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 SEC, which can be accessed through this link. In other news, SVP Jonathan J. Hastings sold 12,922 shares of the business's stock in a transaction dated 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 directly owns 53,862 shares in the company, valued at approximately $3,850,055.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Dj Monagle III sold 1,180 shares of the company's stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $74.12, for a total transaction of $87,461.60. Following the transaction, 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 Investors Weigh In On Minerals Technologies

Several large investors have recently added to or reduced their stakes in MTX. Parallel Advisors LLC raised its stake in shares of Minerals Technologies by 97.9% during the 4th quarter. Parallel Advisors LLC now owns 556 shares of the basic materials company's stock worth $40,000 after acquiring an additional 275 shares in the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new position in Minerals Technologies during the third quarter valued at $44,000. Acadian Asset Management LLC purchased a new position in Minerals Technologies during the third quarter valued at $58,000. Fidelis Capital Partners LLC purchased a new position in shares of Minerals Technologies in the first quarter worth about $77,000. Finally, International Assets Investment Management LLC lifted its stake in shares of Minerals Technologies by 1,266.0% in the fourth quarter. International Assets Investment Management LLC now owns 1,284 shares of the basic materials company's stock worth $92,000 after buying an additional 1,190 shares in the last quarter. 97.29% of the stock is owned by hedge funds and other institutional investors.

About Minerals Technologies

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.