Minerals Technologies Inc. (NYSE:MTX) Receives Average Recommendation of “Buy” from Analysts

Shares of Minerals Technologies Inc. (NYSE:MTX) have received a consensus recommendation of “Buy” from the three brokerages that are covering the company, Marketbeat reports. Three research analysts have rated the stock with a buy rating. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $68.50.

Several research firms have recently commented on MTX. Seaport Res Ptn raised Minerals Technologies from a “neutral” rating to a “buy” rating in a report on Monday, February 5th. StockNews.com raised Minerals Technologies from a “hold” rating to a “buy” rating in a report on Thursday, February 8th. Finally, TheStreet raised Minerals Technologies from a “c+” rating to a “b” rating in a report on Friday, February 2nd.

Minerals Technologies Trading Up 0.8 %

Shares of NYSE MTX opened at $71.61 on Friday. The stock’s 50 day moving average price is $72.72 and its two-hundred day moving average price is $65.77. Minerals Technologies has a 52-week low of $48.61 and a 52-week high of $76.80. The stock has a market capitalization of $2.31 billion, a P/E ratio of 27.65 and a beta of 1.33. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.54.

Minerals Technologies (NYSE:MTX) last announced its quarterly earnings data on Friday, February 2nd. The basic materials company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.03. Minerals Technologies had a return on equity of 10.26% and a net margin of 3.88%. The firm had revenue of $524.50 million for the quarter, compared to analysts’ expectations of $506.67 million. During the same quarter in the prior year, the firm posted $0.67 earnings per share. Minerals Technologies’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, analysts anticipate that Minerals Technologies will post 5.9 earnings per share for the current fiscal year.

Minerals Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Thursday, February 15th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend was Wednesday, February 14th. Minerals Technologies’s dividend payout ratio (DPR) is 15.44%.

Insider Buying and Selling

In related news, insider Dj Monagle III sold 1,180 shares of the stock in a transaction that occurred 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 directly owns 81,031 shares of the company’s stock, valued at approximately $6,006,017.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Jonathan J. Hastings sold 12,922 shares of the stock in a transaction that occurred 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 directly owns 53,862 shares of the company’s stock, valued at approximately $3,850,055.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Dj Monagle III sold 1,180 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 81,031 shares of the company’s stock, valued at $6,006,017.72. The disclosure for this sale can be found here. Corporate insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On Minerals Technologies

Institutional investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue lifted its position in Minerals Technologies by 116.3% in the fourth quarter. State of Alaska Department of Revenue now owns 43,822 shares of the basic materials company’s stock worth $3,124,000 after purchasing an additional 23,559 shares during the period. Duality Advisers LP lifted its position in Minerals Technologies by 76.8% in the third quarter. Duality Advisers LP now owns 7,576 shares of the basic materials company’s stock worth $415,000 after purchasing an additional 3,292 shares during the period. New York State Common Retirement Fund lifted its position in Minerals Technologies by 52.7% in the third quarter. New York State Common Retirement Fund now owns 20,558 shares of the basic materials company’s stock worth $1,126,000 after purchasing an additional 7,098 shares during the period. Jump Financial LLC acquired a new stake in Minerals Technologies in the third quarter worth approximately $867,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Minerals Technologies by 5.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 458,840 shares of the basic materials company’s stock worth $25,126,000 after purchasing an additional 22,790 shares during the period. 97.29% of the stock is currently owned by institutional investors and hedge funds.

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.