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

Minerals Technologies Inc. (NYSE:MTX) has been given a consensus rating of “Buy” by the two brokerages that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $65.00.

Separately, StockNews.com downgraded shares of Minerals Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday.

Insiders Place Their Bets

In related news, insider Dj Monagle III sold 14,229 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $83.63, for a total transaction of $1,189,971.27. Following the completion of the transaction, the insider now directly owns 79,731 shares in the company, valued at approximately $6,667,903.53. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On Minerals Technologies

Hedge funds have recently added to or reduced their stakes in the business. Parallel Advisors LLC grew its position in shares of Minerals Technologies by 97.9% in the 4th quarter. Parallel Advisors LLC now owns 556 shares of the basic materials company’s stock valued at $40,000 after buying an additional 275 shares during the last quarter. Picton Mahoney Asset Management acquired a new stake in Minerals Technologies during the 2nd quarter valued at approximately $52,000. Innealta Capital LLC bought a new position in Minerals Technologies during the 2nd quarter worth approximately $76,000. Fidelis Capital Partners LLC acquired a new position in shares of Minerals Technologies in the 1st quarter worth approximately $77,000. Finally, Quarry LP increased its position in shares of Minerals Technologies by 1,857.4% during the second quarter. Quarry LP now owns 920 shares of the basic materials company’s stock worth $77,000 after buying an additional 873 shares during the period. 97.29% of the stock is currently owned by institutional investors and hedge funds.

Minerals Technologies Stock Down 1.3 %

Shares of Minerals Technologies stock traded down $0.95 on Tuesday, reaching $71.58. 184,881 shares of the company were exchanged, compared to its average volume of 162,007. The company has a market capitalization of $2.31 billion, a price-to-earnings ratio of 24.77 and a beta of 1.30. The company has a current ratio of 2.46, a quick ratio of 1.72 and a debt-to-equity ratio of 0.53. Minerals Technologies has a one year low of $48.61 and a one year high of $90.29. The company has a 50-day moving average of $76.95 and a 200 day moving average of $77.76.

Minerals Technologies (NYSE:MTX) last released its quarterly earnings data on Thursday, July 25th. The basic materials company reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.05. Minerals Technologies had a net margin of 4.05% and a return on equity of 11.46%. The company had revenue of $541.20 million for the quarter, compared to analyst estimates of $561.60 million. During the same period in the previous year, the business earned $1.31 EPS. Minerals Technologies’s revenue for the quarter was down 1.9% compared to the same quarter last year. On average, equities research analysts forecast that Minerals Technologies will post 6.22 earnings per share for the current year.

Minerals Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 16th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.40 annualized dividend and a dividend yield of 0.56%. Minerals Technologies’s payout ratio is 13.84%.

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.