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

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

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

Insiders Place Their Bets

In other news, insider Dj Monagle III sold 1,180 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were 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 of the company’s stock, valued at approximately $6,006,017.72. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Dj Monagle III sold 1,180 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jonathan J. Hastings sold 12,922 shares of the company’s 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 sale, the senior vice president now owns 53,862 shares of the company’s stock, valued at $3,850,055.76. The disclosure for this sale can be found here. 3.50% of the stock is owned by corporate insiders.

Institutional Trading of Minerals Technologies

A number of institutional investors have recently modified their holdings of MTX. Norges Bank acquired a new position in Minerals Technologies during the fourth quarter valued at approximately $19,192,000. Victory Capital Management Inc. boosted its position in 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 period. Wellington Management Group LLP raised its position in Minerals Technologies by 65.4% in the third quarter. Wellington Management Group LLP now owns 251,084 shares of the basic materials company’s stock valued at $13,749,000 after purchasing an additional 99,267 shares during the period. Aufman Associates Inc lifted its stake in shares of Minerals Technologies by 787.7% during the third quarter. Aufman Associates Inc now owns 74,187 shares of the basic materials company’s stock worth $4,062,000 after purchasing an additional 65,830 shares in the last quarter. Finally, Great Lakes Advisors LLC purchased a new stake in shares of Minerals Technologies in the fourth quarter worth about $3,869,000. Hedge funds and other institutional investors own 97.29% of the company’s stock.

Minerals Technologies Stock Down 0.4 %

Shares of NYSE MTX opened at $71.35 on Friday. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of 27.55 and a beta of 1.33. Minerals Technologies has a 52 week low of $48.61 and a 52 week high of $76.80. The firm has a 50-day moving average price of $72.70 and a 200 day moving average price of $66.11. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.54.

Minerals Technologies (NYSE:MTX) last issued its earnings results on Friday, February 2nd. The basic materials company reported $1.28 earnings per share (EPS) 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 quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the company posted $0.67 earnings per share. Equities research analysts anticipate that Minerals Technologies will post 5.9 EPS for the current fiscal year.

Minerals Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Thursday, February 15th were paid a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $0.40 annualized dividend and a yield of 0.56%. Minerals Technologies’s payout ratio is currently 15.44%.

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.