Minerals Technologies (NYSE:MTX) Sets New 1-Year High at $85.28

Minerals Technologies Inc. (NYSE:MTX - Get Free Report)'s share price reached a new 52-week high on Friday . The stock traded as high as $85.28 and last traded at $85.24, with a volume of 161821 shares changing hands. The stock had previously closed at $83.22.

Analyst Ratings Changes

Several research firms have recently weighed in on MTX. TheStreet upgraded shares of Minerals Technologies from a "c+" rating to a "b" rating in a research report on Friday, February 2nd. Seaport Res Ptn upgraded shares of Minerals Technologies from a "neutral" rating to a "buy" rating in a research report on Monday, February 5th. Finally, StockNews.com upgraded shares of Minerals Technologies from a "hold" rating to a "buy" rating in a research report on Thursday, February 8th. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $68.50.

Minerals Technologies Price Performance

The business's 50 day moving average price is $75.62 and its two-hundred day moving average price is $70.08. The stock has a market cap of $2.75 billion, a P/E ratio of 29.09 and a beta of 1.32. The company has a current ratio of 2.49, a quick ratio of 1.75 and a debt-to-equity ratio of 0.53.

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. The firm had revenue of $534.50 million for the quarter, compared to analyst estimates of $545.55 million. Minerals Technologies had a net margin of 4.35% and a return on equity of 10.87%. The company's revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.14 EPS. As a group, sell-side analysts expect that Minerals Technologies Inc. will post 6.29 earnings per share for the current fiscal year.

Minerals Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Friday, May 31st will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.47%. The ex-dividend date is Friday, May 31st. Minerals Technologies's payout ratio is currently 13.84%.

Insider Buying and Selling

In other Minerals Technologies news, SVP Jonathan J. Hastings sold 7,814 shares of Minerals Technologies stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $83.13, for a total value of $649,577.82. Following the completion of the transaction, the senior vice president now directly owns 53,862 shares of the company's stock, valued at $4,477,548.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Dj Monagle III sold 1,180 shares of the stock in a transaction that occurred on 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Jonathan J. Hastings sold 7,814 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $83.13, for a total transaction of $649,577.82. Following the completion of the transaction, the senior vice president now owns 53,862 shares in the company, valued at $4,477,548.06. The disclosure for this sale can be found here. 3.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MTX. Parallel Advisors LLC raised its position in Minerals Technologies by 97.9% in the fourth quarter. Parallel Advisors LLC now owns 556 shares of the basic materials company's stock worth $40,000 after acquiring an additional 275 shares during the period. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Minerals Technologies in the third quarter worth $44,000. Acadian Asset Management LLC purchased a new stake in shares of Minerals Technologies in the third quarter worth $58,000. Fidelis Capital Partners LLC purchased a new stake in shares of Minerals Technologies in the first quarter worth $77,000. Finally, International Assets Investment Management LLC increased 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 purchasing an additional 1,190 shares in the last quarter. 97.29% of the stock is currently 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.