Timothy Jordan Sells 6,000 Shares of Minerals Technologies (NYSE:MTX) Stock

Minerals Technologies Inc. (NYSE:MTX) VP Timothy Jordan sold 6,000 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $80.27, for a total value of $481,620.00. Following the completion of the transaction, the vice president directly owned 1,279 shares in the company, valued at $102,665.33. This represents a 82.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Minerals Technologies Price Performance

NYSE MTX opened at $80.58 on Friday. The stock has a market capitalization of $2.50 billion, a P/E ratio of 15.59 and a beta of 1.12. Minerals Technologies Inc. has a 1 year low of $53.10 and a 1 year high of $84.34. The business’s fifty day moving average is $71.74 and its two-hundred day moving average is $66.42. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.47 and a current ratio of 2.13.

Minerals Technologies (NYSE:MTX) last posted its quarterly earnings results on Thursday, April 30th. The basic materials company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.12. Minerals Technologies had a return on equity of 10.40% and a net margin of 7.60%.The company had revenue of $546.90 million for the quarter, compared to analysts’ expectations of $516.39 million. During the same quarter in the prior year, the company earned $1.14 earnings per share. The firm’s revenue was up 11.2% on a year-over-year basis. On average, research analysts forecast that Minerals Technologies Inc. will post 6.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Truist Financial boosted their target price on shares of Minerals Technologies from $89.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Seaport Research Partners reissued a “buy” rating on shares of Minerals Technologies in a research note on Monday, May 4th. Wall Street Zen raised shares of Minerals Technologies from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 2nd. Finally, Weiss Ratings raised shares of Minerals Technologies from a “sell (d+)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $90.00.

Hedge Funds Weigh In On Minerals Technologies

A number of hedge funds have recently modified their holdings of the stock. Parallel Advisors LLC increased its stake in shares of Minerals Technologies by 36.0% in the first quarter. Parallel Advisors LLC now owns 552 shares of the basic materials company’s stock worth $39,000 after acquiring an additional 146 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of Minerals Technologies by 3.2% in the fourth quarter. ProShare Advisors LLC now owns 6,139 shares of the basic materials company’s stock worth $374,000 after acquiring an additional 192 shares during the last quarter. Rockefeller Capital Management L.P. increased its stake in shares of Minerals Technologies by 7.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,878 shares of the basic materials company’s stock worth $175,000 after acquiring an additional 192 shares during the last quarter. Hsbc Holdings PLC increased its stake in shares of Minerals Technologies by 4.5% in the fourth quarter. Hsbc Holdings PLC now owns 4,514 shares of the basic materials company’s stock worth $276,000 after acquiring an additional 193 shares during the last quarter. Finally, Jain Global LLC boosted its holdings in Minerals Technologies by 6.4% in the fourth quarter. Jain Global LLC now owns 4,143 shares of the basic materials company’s stock worth $253,000 after purchasing an additional 248 shares in the last quarter. 97.29% of the stock is owned by institutional investors and hedge funds.

Minerals Technologies Company Profile

Minerals Technologies Inc develops, produces and processes a broad range of mineral-based products and solutions that serve a variety of industrial applications. Its offerings include bentonite, perlite, precipitated calcium carbonate (PCC), mineral sands, foundry additives, performance minerals and specialty chemicals designed to enhance performance in markets such as paper, steel, construction, oil and gas, environmental remediation and consumer products.

The company operates through several business segments, including Specialty Minerals, Refractory Minerals, Performance Materials and Recycled Materials.