Analysts Set Minerals Technologies Inc. (NYSE:MTX) PT at $68.50

Minerals Technologies Inc. (NYSE:MTX) has been given a consensus rating of “Buy” by the three research firms that are presently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a buy rating. The average twelve-month price target among analysts that have covered the stock in the last year is $68.50.

MTX has been the topic of several recent research reports. StockNews.com raised Minerals Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, February 8th. TheStreet raised Minerals Technologies from a “c+” rating to a “b” rating in a research report on Friday, February 2nd. Finally, Seaport Res Ptn raised Minerals Technologies from a “neutral” rating to a “buy” rating in a research report on Monday, February 5th.

Minerals Technologies Stock Up 3.5 %

Shares of NYSE MTX opened at $73.68 on Friday. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $2.38 billion, a PE ratio of 28.45 and a beta of 1.33. The stock’s fifty day simple moving average is $72.78 and its two-hundred day simple moving average is $66.49. Minerals Technologies has a 12-month low of $48.61 and a 12-month high of $78.04.

Minerals Technologies (NYSE:MTX) last announced 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 business had revenue of $534.50 million for the quarter, compared to analysts’ expectations of $545.55 million. Minerals Technologies had a return on equity of 10.26% and a net margin of 3.88%. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.14 EPS. As a group, analysts expect that Minerals Technologies will post 5.9 EPS for the current fiscal year.

Insider Activity

In other news, insider Dj Monagle III sold 1,180 shares of the stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $74.12, for a total transaction of $87,461.60. Following the completion of the sale, the insider now owns 81,031 shares in the company, valued at approximately $6,006,017.72. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, SVP Jonathan J. Hastings sold 12,922 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $71.48, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dj Monagle III sold 1,180 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $74.12, for a total value of $87,461.60. Following the completion of the transaction, the insider now owns 81,031 shares of the company’s stock, valued at approximately $6,006,017.72. The disclosure for this sale can be found here. Company insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On Minerals Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MTX. Norges Bank purchased a new position in Minerals Technologies in the 4th quarter worth $19,192,000. Victory Capital Management Inc. grew its position in Minerals Technologies by 6.4% during the 3rd quarter. Victory Capital Management Inc. now owns 1,737,753 shares of the basic materials company’s stock worth $95,159,000 after purchasing an additional 104,982 shares during the period. Wellington Management Group LLP grew its position in Minerals Technologies by 65.4% during the 3rd quarter. Wellington Management Group LLP now owns 251,084 shares of the basic materials company’s stock worth $13,749,000 after purchasing an additional 99,267 shares during the period. Assenagon Asset Management S.A. grew its position in Minerals Technologies by 52.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 195,608 shares of the basic materials company’s stock worth $14,725,000 after purchasing an additional 67,379 shares during the period. Finally, Aufman Associates Inc grew its position in Minerals Technologies by 787.7% during the 3rd quarter. Aufman Associates Inc now owns 74,187 shares of the basic materials company’s stock worth $4,062,000 after purchasing an additional 65,830 shares during the period. Hedge funds and other institutional investors own 97.29% of the company’s stock.

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.