Kristina M. Johnson Acquires 1,000 Shares of Minerals Technologies Inc. (NYSE:MTX) Stock

Minerals Technologies Inc. (NYSE:MTX) Director Kristina M. Johnson purchased 1,000 shares of Minerals Technologies stock in a transaction dated Friday, May 2nd. The shares were purchased at an average cost of $53.79 per share, for a total transaction of $53,790.00. Following the transaction, the director now owns 1,400 shares in the company, valued at approximately $75,306. This trade represents a 250.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Minerals Technologies Stock Down 0.2 %

Shares of NYSE MTX opened at $52.92 on Tuesday. The company has a quick ratio of 1.98, a current ratio of 2.84 and a debt-to-equity ratio of 0.54. The business’s 50 day moving average is $60.89 and its two-hundred day moving average is $71.39. Minerals Technologies Inc. has a 52-week low of $49.54 and a 52-week high of $90.30. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of 10.22 and a beta of 1.22.

Minerals Technologies (NYSE:MTX) last announced its earnings results on Thursday, April 24th. The basic materials company reported $1.14 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.02). The business had revenue of $491.80 million for the quarter, compared to analysts’ expectations of $502.03 million. Minerals Technologies had a return on equity of 11.49% and a net margin of 7.89%. Minerals Technologies’s quarterly revenue was down 8.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.49 earnings per share. Research analysts predict that Minerals Technologies Inc. will post 6.62 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. raised its position in Minerals Technologies by 2.7% in the 4th quarter. Principal Financial Group Inc. now owns 166,647 shares of the basic materials company’s stock valued at $12,700,000 after purchasing an additional 4,356 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Minerals Technologies by 9.7% in the third quarter. JPMorgan Chase & Co. now owns 115,887 shares of the basic materials company’s stock valued at $8,950,000 after acquiring an additional 10,284 shares in the last quarter. Franklin Resources Inc. lifted its stake in Minerals Technologies by 21.1% in the third quarter. Franklin Resources Inc. now owns 47,847 shares of the basic materials company’s stock worth $3,728,000 after acquiring an additional 8,335 shares during the last quarter. Y Intercept Hong Kong Ltd grew its holdings in Minerals Technologies by 74.4% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 17,264 shares of the basic materials company’s stock worth $1,316,000 after acquiring an additional 7,364 shares in the last quarter. Finally, M&T Bank Corp increased its position in shares of Minerals Technologies by 13.2% in the 4th quarter. M&T Bank Corp now owns 37,770 shares of the basic materials company’s stock valued at $2,878,000 after purchasing an additional 4,402 shares during the last quarter. 97.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MTX has been the topic of several recent analyst reports. StockNews.com lowered Minerals Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, April 9th. Truist Financial decreased their target price on shares of Minerals Technologies from $92.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, April 28th.

About Minerals Technologies

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.