Minerals Technologies (NYSE:MTX) Sets New 1-Year High After Strong Earnings

Shares of Minerals Technologies Inc. (NYSE:MTX) hit a new 52-week high during trading on Friday following a stronger than expected earnings report. The company traded as high as $78.04 and last traded at $76.87, with a volume of 21786 shares. The stock had previously closed at $71.18.

The basic materials company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.22. Minerals Technologies had a return on equity of 10.94% and a net margin of 4.35%. The company had revenue of $534.50 million for the quarter, compared to analyst estimates of $545.55 million. During the same quarter in the prior year, the firm posted $1.14 EPS. Minerals Technologies’s quarterly revenue was down 2.1% compared to the same quarter last year.

Wall Street Analyst Weigh In

MTX has been the topic of several recent research reports. StockNews.com upgraded 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 upgraded Minerals Technologies from a “c+” rating to a “b” rating in a report on Friday, February 2nd. Four research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $68.50.

Insider Buying and Selling at Minerals Technologies

In other Minerals Technologies news, insider Dj Monagle III sold 1,180 shares of the company’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 transaction, the insider now 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 hyperlink. 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 transaction, the insider now owns 81,031 shares of the company’s stock, valued at approximately $6,006,017.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Jonathan J. Hastings sold 12,922 shares of the 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 transaction, the senior vice president now directly owns 53,862 shares in the company, valued at approximately $3,850,055.76. The disclosure for this sale can be found here. 3.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Minerals Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its position in shares of Minerals Technologies by 2.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,267,569 shares of the basic materials company’s stock worth $161,702,000 after buying an additional 49,192 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of 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 last quarter. American Century Companies Inc. lifted its stake in shares of Minerals Technologies by 1.4% during the 3rd quarter. American Century Companies Inc. now owns 1,241,758 shares of the basic materials company’s stock worth $67,999,000 after purchasing an additional 17,742 shares during the last quarter. Boston Trust Walden Corp lifted its stake in shares of Minerals Technologies by 0.5% during the 4th quarter. Boston Trust Walden Corp now owns 644,055 shares of the basic materials company’s stock worth $45,928,000 after purchasing an additional 3,135 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Minerals Technologies by 10.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 514,036 shares of the basic materials company’s stock worth $38,697,000 after purchasing an additional 48,378 shares during the last quarter. Institutional investors own 97.29% of the company’s stock.

Minerals Technologies Stock Up 3.5 %

The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.69 and a current ratio of 2.40. The stock has a market capitalization of $2.38 billion, a PE ratio of 25.50 and a beta of 1.33. The business has a 50 day moving average of $72.78 and a two-hundred day moving average of $66.60.

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.