Minerals Technologies (NYSE:MTX) Hits New 52-Week High at $78.46

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

Analysts Set New Price Targets

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

Minerals Technologies Stock Performance

The business has a 50 day moving average price of $73.37 and a 200 day moving average price of $67.96. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.49 and a quick ratio of 1.75. The stock has a market capitalization of $2.55 billion, a PE ratio of 27.40 and a beta of 1.32.

Minerals Technologies (NYSE:MTX) last issued its earnings results on Thursday, April 25th. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.22. Minerals Technologies had a net margin of 4.35% and a return on equity of 10.87%. The firm had revenue of $534.50 million for the quarter, compared to the consensus estimate of $545.55 million. During the same quarter in the prior year, the firm posted $1.14 earnings per share. The business’s revenue was down 2.1% on a year-over-year basis. As a group, equities research analysts expect that Minerals Technologies Inc. will post 6.29 earnings per share for the current year.

Insider Buying and Selling at Minerals Technologies

In other news, SVP Jonathan J. Hastings sold 12,922 shares of Minerals Technologies stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $71.48, for a total transaction of $923,664.56. Following the transaction, the senior vice president now directly owns 53,862 shares of the company’s stock, valued at approximately $3,850,055.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Minerals Technologies news, SVP Jonathan J. Hastings sold 12,922 shares of the stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly owns 53,862 shares of the company’s stock, valued at approximately $3,850,055.76. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Dj Monagle III sold 1,180 shares of the business’s 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 transaction, the insider now directly owns 81,031 shares in the company, valued at approximately $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 Trading of Minerals Technologies

Several hedge funds have recently modified their holdings of MTX. Commonwealth Equity Services LLC purchased a new position in Minerals Technologies in the third quarter worth about $235,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Minerals Technologies by 33.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,940 shares of the basic materials company’s stock worth $380,000 after purchasing an additional 1,734 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Minerals Technologies by 9.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 234,651 shares of the basic materials company’s stock valued at $12,849,000 after buying an additional 19,519 shares during the period. Inspire Investing LLC grew its stake in shares of Minerals Technologies by 3.2% during the third quarter. Inspire Investing LLC now owns 6,395 shares of the basic materials company’s stock valued at $350,000 after buying an additional 197 shares during the last quarter. Finally, Skylands Capital LLC raised its holdings in shares of Minerals Technologies by 65.7% in the third quarter. Skylands Capital LLC now owns 44,000 shares of the basic materials company’s stock worth $2,409,000 after buying an additional 17,450 shares during the period. 97.29% of the stock is owned by hedge funds and other 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.