Minerals Technologies Inc. (NYSE:MTX) Shares Purchased by Comerica Bank

Comerica Bank increased its stake in shares of Minerals Technologies Inc. (NYSE:MTX – Get Rating) by 62.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 25,150 shares of the basic materials company’s stock after purchasing an additional 9,692 shares during the period. Comerica Bank owned 0.08% of Minerals Technologies worth $1,379,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Wipfli Financial Advisors LLC acquired a new position in shares of Minerals Technologies during the 3rd quarter worth about $25,000. Pinebridge Investments L.P. raised its holdings in Minerals Technologies by 389.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 489 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 389 shares during the last quarter. Ellevest Inc. raised its holdings in Minerals Technologies by 74.9% in the 2nd quarter. Ellevest Inc. now owns 488 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 209 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in Minerals Technologies in the 2nd quarter valued at about $37,000. Finally, Washington Trust Advisors Inc. acquired a new stake in Minerals Technologies in the 2nd quarter valued at about $49,000. Institutional investors and hedge funds own 96.57% of the company’s stock.

Analyst Upgrades and Downgrades

MTX has been the subject of a number of recent research reports. StockNews.com initiated coverage on shares of Minerals Technologies in a report on Wednesday, October 12th. They issued a “hold” rating for the company. TheStreet downgraded shares of Minerals Technologies from a “b-” rating to a “c+” rating in a report on Monday, October 10th. Finally, Seaport Res Ptn cut shares of Minerals Technologies from a “buy” rating to a “neutral” rating in a research note on Thursday, October 13th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Minerals Technologies currently has a consensus rating of “Hold” and a consensus target price of $81.00.

Insider Buying and Selling

In related news, SVP Brett Argirakis sold 927 shares of the stock in a transaction that occurred on Tuesday, December 20th. The shares were sold at an average price of $60.03, for a total transaction of $55,647.81. Following the completion of the transaction, the senior vice president now owns 15,694 shares of the company’s stock, valued at approximately $942,110.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Brett Argirakis sold 927 shares of the stock in a transaction that occurred on Tuesday, December 20th. The shares were sold at an average price of $60.03, for a total transaction of $55,647.81. Following the completion of the transaction, the senior vice president now owns 15,694 shares of the company’s stock, valued at approximately $942,110.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Thomas J. Meek sold 16,795 shares of the stock in a transaction that occurred on Friday, December 2nd. The stock was sold at an average price of $62.52, for a total transaction of $1,050,023.40. Following the transaction, the senior vice president now directly owns 83,852 shares of the company’s stock, valued at approximately $5,242,427.04. The disclosure for this sale can be found here. 3.20% of the stock is currently owned by corporate insiders.

Minerals Technologies Stock Performance

Minerals Technologies stock opened at $66.07 on Monday. The firm has a 50 day simple moving average of $60.70 and a 200-day simple moving average of $59.28. Minerals Technologies Inc. has a 1-year low of $49.38 and a 1-year high of $72.64. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.18 and a quick ratio of 1.48. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of 15.26 and a beta of 1.28.

Minerals Technologies (NYSE:MTX – Get Rating) last posted its quarterly earnings results on Thursday, October 27th. The basic materials company reported $1.35 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.03). The firm had revenue of $541.90 million during the quarter, compared to analysts’ expectations of $531.20 million. Minerals Technologies had a net margin of 6.85% and a return on equity of 11.46%. On average, analysts expect that Minerals Technologies Inc. will post 5.39 EPS for the current year.

About Minerals Technologies

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Minerals Technologies Inc develops, produces, and markets various specialty mineral, mineral-based, and synthetic mineral products, and supporting systems and services. The company operates through three segments: Performance Materials, Specialty Minerals and Refractories. The Performance Materials segment supplies bentonite and bentonite-related products, as well as leonardite.