Research Analysts’ Recent Ratings Updates for Minerals Technologies (MTX)

Several brokerages have updated their recommendations and price targets on shares of Minerals Technologies (NYSE: MTX) in the last few weeks:

  • 2/8/2024 – Minerals Technologies was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
  • 2/5/2024 – Minerals Technologies was upgraded by analysts at Seaport Res Ptn from a “neutral” rating to a “buy” rating.
  • 2/2/2024 – Minerals Technologies was upgraded by analysts at TheStreet from a “c+” rating to a “b” rating.
  • 1/30/2024 – Minerals Technologies was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.

Minerals Technologies Stock Up 1.4 %

Shares of MTX stock opened at $69.71 on Friday. The stock has a market cap of $2.27 billion, a P/E ratio of 26.92 and a beta of 1.32. Minerals Technologies Inc. has a 52 week low of $48.61 and a 52 week high of $72.10. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.54. The company’s fifty day simple moving average is $67.07 and its two-hundred day simple moving average is $60.44.

Minerals Technologies (NYSE:MTXGet Free Report) last issued its earnings results on Friday, February 2nd. The basic materials company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.03. Minerals Technologies had a net margin of 3.88% and a return on equity of 10.26%. The business had revenue of $524.50 million for the quarter, compared to the consensus estimate of $506.67 million. During the same period in the prior year, the firm earned $0.67 EPS. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. Analysts predict that Minerals Technologies Inc. will post 5.96 EPS for the current fiscal year.

Minerals Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 7th. Shareholders of record on Thursday, February 15th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.57%. Minerals Technologies’s dividend payout ratio is currently 15.44%.

Insider Buying and Selling

In related news, SVP Jonathan J. Hastings sold 8,960 shares of the business’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $62.44, for a total transaction of $559,462.40. Following the transaction, the senior vice president now directly owns 49,131 shares in the company, valued at $3,067,739.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Brett Argirakis sold 2,655 shares of the firm’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $66.84, for a total transaction of $177,460.20. Following the completion of the sale, the insider now directly owns 19,011 shares of the company’s stock, valued at approximately $1,270,695.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jonathan J. Hastings sold 8,960 shares of the company’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $62.44, for a total transaction of $559,462.40. Following the completion of the sale, the senior vice president now owns 49,131 shares of the company’s stock, valued at approximately $3,067,739.64. The disclosure for this sale can be found here. Insiders sold a total of 26,213 shares of company stock valued at $1,730,754 over the last 90 days. Insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company lifted its holdings in shares of Minerals Technologies by 1.4% in the second quarter. The Manufacturers Life Insurance Company now owns 12,898 shares of the basic materials company’s stock valued at $744,000 after purchasing an additional 174 shares in the last quarter. Inspire Investing LLC raised its holdings in Minerals Technologies by 3.2% during the 3rd quarter. Inspire Investing LLC now owns 6,395 shares of the basic materials company’s stock worth $350,000 after buying an additional 197 shares during the period. Bank of Montreal Can grew its position in Minerals Technologies by 3.3% in the second quarter. Bank of Montreal Can now owns 6,827 shares of the basic materials company’s stock valued at $423,000 after purchasing an additional 219 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Minerals Technologies by 4.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 5,582 shares of the basic materials company’s stock valued at $322,000 after acquiring an additional 246 shares during the period. Finally, Yousif Capital Management LLC grew its position in shares of Minerals Technologies by 1.7% in the first quarter. Yousif Capital Management LLC now owns 17,936 shares of the basic materials company’s stock valued at $1,186,000 after purchasing an additional 295 shares during the last quarter. Hedge funds and other institutional investors own 94.24% of the company’s stock.

Minerals Technologies Inc develops, produces, and markets various specialty mineral, mineral-based, and synthetic mineral products, and supporting systems and services. The company operates through three segments: Performance Materials, Specialty Minerals and Refractories. The Performance Materials segment supplies bentonite and bentonite-related products, as well as leonardite.

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