Shares of Minerals Technologies Inc. (NYSE:MTX) have received a consensus rating of "Buy" from the seven brokerages that are currently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $60.00.
MTX has been the subject of several analyst reports. ValuEngine upgraded Minerals Technologies from a "sell" rating to a "hold" rating in a report on Monday, November 2nd. Seaport Global Securities initiated coverage on Minerals Technologies in a report on Monday, September 21st. They set a "buy" rating and a $65.00 target price for the company. TheStreet upgraded Minerals Technologies from a "c" rating to a "b-" rating in a report on Friday, October 30th. JPMorgan Chase & Co. raised Minerals Technologies from a "neutral" rating to an "overweight" rating in a research report on Monday, August 3rd. They noted that the move was a valuation call. Finally, Sidoti assumed coverage on Minerals Technologies in a research report on Monday, October 19th. They set a "buy" rating for the company.
In other news, SVP Thomas J. Meek sold 11,807 shares of the stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $61.54, for a total value of $726,602.78. Following the completion of the transaction, the senior vice president now owns 83,987 shares of the company's stock, valued at approximately $5,168,559.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Douglas T. Dietrich sold 11,856 shares of the stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $61.46, for a total value of $728,669.76. Following the completion of the transaction, the chief executive officer now directly owns 97,280 shares of the company's stock, valued at approximately $5,978,828.80. The disclosure for this sale can be found here. Corporate insiders own 2.80% of the company's stock.
Several large investors have recently made changes to their positions in MTX. Harbor Investment Advisory LLC increased its position in Minerals Technologies by 105.1% during the 3rd quarter. Harbor Investment Advisory LLC now owns 798 shares of the basic materials company's stock valued at $41,000 after buying an additional 409 shares in the last quarter. Signaturefd LLC increased its position in Minerals Technologies by 95.0% during the 2nd quarter. Signaturefd LLC now owns 852 shares of the basic materials company's stock valued at $40,000 after buying an additional 415 shares in the last quarter. Advisor Group Holdings Inc. bought a new position in Minerals Technologies during the 1st quarter valued at approximately $56,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Minerals Technologies by 14.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,792 shares of the basic materials company's stock valued at $178,000 after buying an additional 483 shares in the last quarter. Finally, Mackay Shields LLC bought a new position in Minerals Technologies during the 3rd quarter valued at approximately $210,000. 96.03% of the stock is owned by hedge funds and other institutional investors.
Shares of MTX stock opened at $59.31 on Friday. The stock has a market capitalization of $2.02 billion, a PE ratio of 18.53, a P/E/G ratio of 3.08 and a beta of 1.57. Minerals Technologies has a 1-year low of $27.28 and a 1-year high of $66.24. The business has a 50-day moving average of $57.20 and a 200 day moving average of $50.47. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.85 and a quick ratio of 2.91.
Minerals Technologies (NYSE:MTX) last issued its earnings results on Thursday, October 29th. The basic materials company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.05. The company had revenue of $388.00 million during the quarter, compared to analysts' expectations of $386.08 million. Minerals Technologies had a return on equity of 9.20% and a net margin of 6.88%. Minerals Technologies's quarterly revenue was down 13.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.06 EPS. Analysts anticipate that Minerals Technologies will post 3.84 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Monday, November 2nd will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend is Friday, October 30th. Minerals Technologies's payout ratio is 4.73%.
About Minerals Technologies
Minerals Technologies Inc develops, produces, and markets various specialty mineral, mineral-based, and synthetic mineral products, and supporting systems and services worldwide. The company's Performance Materials segment supplies bentonite and bentonite-related products, as well as chromite and leonardite.
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