Analysts Set Minerals Technologies Inc. (NYSE:MTX) PT at $68.50

Shares of Minerals Technologies Inc. (NYSE:MTX) have earned a consensus recommendation of “Buy” from the three research firms that are currently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a buy recommendation. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $68.50.

Several equities research analysts have issued reports on MTX shares. Seaport Res Ptn upgraded shares of Minerals Technologies from a “neutral” rating to a “buy” rating in a research note on Monday, February 5th. StockNews.com upgraded Minerals Technologies from a “hold” rating to a “buy” rating in a report on Thursday, February 8th. Finally, TheStreet upgraded Minerals Technologies from a “c+” rating to a “b” rating in a report on Friday, February 2nd.

Minerals Technologies Stock Down 1.8 %

Shares of NYSE MTX opened at $75.32 on Tuesday. The firm has a market capitalization of $2.44 billion, a PE ratio of 29.08 and a beta of 1.33. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.54. Minerals Technologies has a 1 year low of $48.61 and a 1 year high of $76.80. The firm’s 50-day moving average is $70.93 and its 200-day moving average is $63.75.

Minerals Technologies (NYSE:MTX) last announced its earnings results on Friday, February 2nd. The basic materials company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.25 by $0.03. The firm had revenue of $524.50 million for the quarter, compared to the consensus estimate of $506.67 million. Minerals Technologies had a net margin of 3.88% and a return on equity of 10.26%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the company posted $0.67 EPS. Equities analysts expect that Minerals Technologies will post 5.9 EPS for the current year.

Minerals Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Thursday, February 15th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date was Wednesday, February 14th. Minerals Technologies’s payout ratio is currently 15.44%.

Insider Buying and Selling

In related news, insider Dj Monagle III sold 1,180 shares of Minerals Technologies stock in a transaction dated 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 transaction, the insider now owns 81,031 shares in the company, valued at $6,006,017.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Minerals Technologies news, SVP Jonathan J. Hastings sold 12,922 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $71.48, for a total transaction of $923,664.56. Following the completion of the sale, the senior vice president now directly owns 53,862 shares in the company, valued at $3,850,055.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Dj Monagle III sold 1,180 shares of the firm’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 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. 3.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Minerals Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company raised its position 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 buying an additional 174 shares in the last quarter. US Bancorp DE grew its stake in shares of Minerals Technologies by 1.6% in the fourth quarter. US Bancorp DE now owns 12,457 shares of the basic materials company’s stock worth $888,000 after purchasing an additional 196 shares during the last quarter. Inspire Investing LLC grew its stake in shares of Minerals Technologies by 3.2% in the third quarter. Inspire Investing LLC now owns 6,395 shares of the basic materials company’s stock worth $350,000 after purchasing an additional 197 shares during the last quarter. Bank of Montreal Can lifted its holdings 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 buying an additional 219 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in Minerals Technologies by 4.6% in the second quarter. PNC Financial Services Group Inc. now owns 5,582 shares of the basic materials company’s stock valued at $322,000 after buying an additional 246 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.