Brokerages Set Minerals Technologies Inc. (NYSE:MTX) Price Target at $68.50

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

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

Insider Buying and Selling

In other Minerals Technologies news, insider Dj Monagle III sold 1,180 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $74.12, for a total value of $87,461.60. Following the transaction, the insider now directly owns 81,031 shares in the company, valued at approximately $6,006,017.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Minerals Technologies news, insider Dj Monagle III sold 1,180 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $74.12, for a total value of $87,461.60. Following the transaction, the insider now directly owns 81,031 shares in the company, valued at approximately $6,006,017.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jonathan J. Hastings sold 12,922 shares of the business’s stock in a transaction dated 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 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. 3.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Minerals Technologies

Large investors have recently added to or reduced their stakes in the business. Dark Forest Capital Management LP purchased a new stake in Minerals Technologies during the 1st quarter worth approximately $29,000. Parallel Advisors LLC increased its stake in Minerals Technologies by 97.9% during the 4th quarter. Parallel Advisors LLC now owns 556 shares of the basic materials company’s stock worth $40,000 after buying an additional 275 shares during the period. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Minerals Technologies in the 3rd quarter valued at approximately $44,000. Quarry LP purchased a new stake in shares of Minerals Technologies in the 2nd quarter valued at approximately $49,000. Finally, Quantbot Technologies LP increased its position in shares of Minerals Technologies by 126.1% in the 2nd quarter. Quantbot Technologies LP now owns 997 shares of the basic materials company’s stock valued at $61,000 after purchasing an additional 556 shares during the last quarter. 97.29% of the stock is owned by hedge funds and other institutional investors.

Minerals Technologies Stock Down 1.8 %

MTX opened at $75.32 on Tuesday. Minerals Technologies has a fifty-two week low of $48.61 and a fifty-two week high of $76.80. 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 company has a fifty day moving average of $70.93 and a two-hundred day moving average of $63.75. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of 29.08 and a beta of 1.33.

Minerals Technologies (NYSE:MTX) last released its quarterly earnings data on Friday, February 2nd. The basic materials company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.03. The company had revenue of $524.50 million during the quarter, compared to analysts’ expectations of $506.67 million. Minerals Technologies had a net margin of 3.88% and a return on equity of 10.26%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.67 earnings per share. On average, research analysts expect that Minerals Technologies will post 5.9 earnings per share 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 given a dividend of $0.10 per share. The ex-dividend date was Wednesday, February 14th. This represents a $0.40 dividend on an annualized basis and a yield of 0.53%. Minerals Technologies’s payout ratio is presently 15.44%.

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.