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

Minerals Technologies Inc. (NYSE:MTX)’s stock price reached a new 52-week high 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 equities research analysts recently commented on MTX shares. TheStreet raised shares of Minerals Technologies from a “c+” rating to a “b” rating in a report on Friday, February 2nd. Seaport Res Ptn upgraded shares of Minerals Technologies from a “neutral” rating to a “buy” rating in a research report on Monday, February 5th. Finally, StockNews.com upgraded shares of Minerals Technologies from a “hold” rating to a “buy” rating in a report on Thursday, February 8th. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $68.50.

Minerals Technologies Stock Performance

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 company has a market cap of $2.53 billion, a price-to-earnings ratio of 26.71 and a beta of 1.32. The firm has a 50 day simple moving average of $73.08 and a 200-day simple moving average of $67.59.

Minerals Technologies (NYSE:MTX) last posted its earnings results on Thursday, April 25th. 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 net margin of 4.35% and a return on equity of 10.87%. The firm had revenue of $534.50 million during the quarter, compared to the consensus estimate of $545.55 million. During the same quarter last year, the firm earned $1.14 EPS. The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. As a group, analysts predict that Minerals Technologies Inc. will post 6.29 EPS for the current fiscal year.

Insider Transactions at Minerals Technologies

In other Minerals Technologies news, SVP Jonathan J. Hastings sold 12,922 shares of the firm’s 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 owns 53,862 shares of the company’s stock, valued at $3,850,055.76. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Minerals Technologies news, 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 transaction of $87,461.60. Following the completion of the sale, the insider now directly owns 81,031 shares of the company’s stock, valued at approximately $6,006,017.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Jonathan J. Hastings sold 12,922 shares of Minerals Technologies stock in a transaction that occurred on Tuesday, February 20th. The shares were 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 $3,850,055.76. 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

A number of large investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC increased its position in Minerals Technologies by 97.9% during the fourth quarter. Parallel Advisors LLC now owns 556 shares of the basic materials company’s stock worth $40,000 after purchasing an additional 275 shares during the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of Minerals Technologies during the 3rd quarter worth $44,000. Acadian Asset Management LLC purchased a new position in shares of Minerals Technologies in the 3rd quarter worth $58,000. Fidelis Capital Partners LLC acquired a new position in Minerals Technologies in the first quarter valued at $77,000. Finally, International Assets Investment Management LLC grew its position in Minerals Technologies by 1,266.0% during the fourth quarter. International Assets Investment Management LLC now owns 1,284 shares of the basic materials company’s stock valued at $92,000 after acquiring an additional 1,190 shares during the period. 97.29% of the stock is 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.