Minerals Technologies Inc. (NYSE:MTX) Given Average Rating of "Hold" by Brokerages – MarketBeat

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Minerals Technologies Inc. (NYSE:MTX – Get Rating) has been given an average recommendation of “Hold” by the four ratings firms that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $75.00.
Several equities research analysts recently issued reports on MTX shares. StockNews.com started coverage on shares of Minerals Technologies in a research note on Wednesday. They set a “hold” rating on the stock. CL King downgraded shares of Minerals Technologies from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 30th. Finally, TheStreet downgraded shares of Minerals Technologies from a “b-” rating to a “c+” rating in a research report on Monday.

Minerals Technologies Price Performance

MTX opened at $52.38 on Thursday. Minerals Technologies has a 52-week low of $49.38 and a 52-week high of $79.03. The company has a 50 day moving average of $58.36 and a two-hundred day moving average of $61.83. The company has a market cap of $1.71 billion, a P/E ratio of 10.19 and a beta of 1.29. The company has a quick ratio of 1.56, a current ratio of 2.29 and a debt-to-equity ratio of 0.60.
Minerals Technologies (NYSE:MTX – Get Rating) last released its quarterly earnings results on Thursday, July 28th. The basic materials company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.04. Minerals Technologies had a net margin of 8.46% and a return on equity of 11.44%. The firm had revenue of $577.00 million for the quarter, compared to the consensus estimate of $533.65 million. During the same quarter in the previous year, the firm posted $1.29 EPS. The firm’s quarterly revenue was up 26.5% on a year-over-year basis. On average, analysts expect that Minerals Technologies will post 5.52 earnings per share for the current year.

Minerals Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Friday, August 19th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.38%. The ex-dividend date of this dividend was Thursday, August 18th. Minerals Technologies’s payout ratio is currently 3.89%.

Insider Transactions at Minerals Technologies

In other news, insider Dj Monagle III sold 19,673 shares of the business’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $63.36, for a total value of $1,246,481.28. Following the completion of the sale, the insider now owns 72,402 shares of the company’s stock, valued at approximately $4,587,390.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Dj Monagle III sold 19,673 shares of Minerals Technologies stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $63.36, for a total value of $1,246,481.28. Following the completion of the transaction, the insider now directly owns 72,402 shares of the company’s stock, valued at approximately $4,587,390.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Michael Cipolla sold 6,356 shares of Minerals Technologies stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $64.27, for a total transaction of $408,500.12. Following the completion of the transaction, the vice president now directly owns 32,286 shares of the company’s stock, valued at $2,075,021.22. The disclosure for this sale can be found here. In the last 90 days, insiders sold 54,067 shares of company stock valued at $3,404,799. Insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of MTX. ExodusPoint Capital Management LP acquired a new position in Minerals Technologies during the 2nd quarter valued at about $4,957,000. Goldman Sachs Group Inc. boosted its stake in Minerals Technologies by 17.6% during the 2nd quarter. Goldman Sachs Group Inc. now owns 237,734 shares of the basic materials company’s stock valued at $14,583,000 after purchasing an additional 35,559 shares during the period. AQR Capital Management LLC boosted its stake in Minerals Technologies by 3.9% during the 2nd quarter. AQR Capital Management LLC now owns 221,857 shares of the basic materials company’s stock valued at $13,394,000 after purchasing an additional 8,271 shares during the period. Macquarie Group Ltd. boosted its stake in Minerals Technologies by 3.3% during the 2nd quarter. Macquarie Group Ltd. now owns 1,813,110 shares of the basic materials company’s stock valued at $111,216,000 after purchasing an additional 58,310 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new position in Minerals Technologies during the 2nd quarter valued at about $72,000. 96.13% of the stock is owned by institutional investors and hedge funds.

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.

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