Minerals Technologies Inc. (NYSE:MTX) Given Average Recommendation of “Buy” by Brokerages

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

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

Minerals Technologies Stock Up 0.8 %

NYSE MTX opened at $71.61 on Friday. 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 firm has a 50-day simple moving average of $72.72 and a 200 day simple moving average of $65.77. Minerals Technologies has a twelve month low of $48.61 and a twelve month high of $76.80. The stock has a market cap of $2.31 billion, a PE ratio of 27.65 and a beta of 1.33.

Minerals Technologies (NYSE:MTX) last released its earnings results on Friday, February 2nd. The basic materials company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.03. Minerals Technologies had a net margin of 3.88% and a return on equity of 10.26%. The business had revenue of $524.50 million during the quarter, compared to analysts’ expectations of $506.67 million. During the same quarter last year, the company earned $0.67 earnings per share. The firm’s revenue was up 3.3% on a year-over-year basis. On average, research analysts forecast that Minerals Technologies will post 5.9 EPS for the current year.

Minerals Technologies Announces Dividend

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

Insider Transactions at Minerals Technologies

In other 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 owns 53,862 shares of the company’s stock, valued at $3,850,055.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Dj Monagle III sold 1,180 shares of the firm’s stock in a transaction that occurred 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 owns 81,031 shares of the company’s stock, valued at $6,006,017.72. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Jonathan J. Hastings sold 12,922 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $71.48, for a total transaction of $923,664.56. Following the sale, the senior vice president now directly owns 53,862 shares of the company’s stock, valued at approximately $3,850,055.76. The disclosure for this sale can be found here. Company insiders own 3.50% of the company’s stock.

Institutional Trading of Minerals Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of MTX. Dark Forest Capital Management LP acquired a new stake in shares of Minerals Technologies in the first quarter valued at approximately $29,000. Parallel Advisors LLC increased its holdings in shares of Minerals Technologies by 97.9% in the fourth quarter. Parallel Advisors LLC now owns 556 shares of the basic materials company’s stock valued at $40,000 after purchasing an additional 275 shares in the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of Minerals Technologies in the third quarter valued at approximately $44,000. Quarry LP acquired a new stake in shares of Minerals Technologies in the second quarter valued at approximately $49,000. Finally, Acadian Asset Management LLC acquired a new stake in shares of Minerals Technologies in the third quarter valued at approximately $58,000. Institutional investors and hedge funds own 97.29% of the company’s stock.

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.