Minerals Technologies (NYSE:MTX) Sets New 52-Week High Following Earnings Beat

Minerals Technologies Inc. (NYSE:MTX)’s stock price reached a new 52-week high during trading on Friday following a stronger than expected earnings report. The company traded as high as $78.04 and last traded at $76.87, with a volume of 21786 shares traded. The stock had previously closed at $71.18.

The basic materials company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.27 by $0.22. The company had revenue of $534.50 million during the quarter, compared to analyst estimates of $545.55 million. Minerals Technologies had a return on equity of 10.26% and a net margin of 3.88%. Minerals Technologies’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.14 EPS.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. TheStreet upgraded Minerals Technologies from a “c+” rating to a “b” rating in a research report on Friday, February 2nd. StockNews.com upgraded Minerals Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, February 8th. Finally, Seaport Res Ptn upgraded Minerals Technologies from a “neutral” rating to a “buy” rating in a research report on Monday, February 5th. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $68.50.

Insider Transactions at Minerals Technologies

In other news, insider Dj Monagle III sold 1,180 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $74.12, for a total transaction of $87,461.60. Following the completion of the transaction, the insider now directly owns 81,031 shares in the company, valued at $6,006,017.72. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Dj Monagle III sold 1,180 shares of Minerals Technologies stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $74.12, for a total value of $87,461.60. Following the completion of the transaction, the insider now directly owns 81,031 shares in the company, valued at $6,006,017.72. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Jonathan J. Hastings sold 12,922 shares of Minerals Technologies stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $71.48, for a total value of $923,664.56. Following the completion of the transaction, the senior vice president now owns 53,862 shares of the company’s stock, valued at $3,850,055.76. The disclosure for this sale can be found here. Company insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC raised its stake in 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 buying an additional 275 shares in the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new stake in Minerals Technologies in the third quarter valued at $44,000. Acadian Asset Management LLC acquired a new stake in Minerals Technologies in the third quarter valued at $58,000. International Assets Investment Management LLC increased its position in shares of Minerals Technologies by 1,266.0% during the fourth quarter. International Assets Investment Management LLC now owns 1,284 shares of the basic materials company’s stock worth $92,000 after purchasing an additional 1,190 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Minerals Technologies during the fourth quarter worth about $158,000. 97.29% of the stock is currently owned by hedge funds and other institutional investors.

Minerals Technologies Stock Performance

The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.54. The stock has a fifty day moving average of $72.75 and a 200-day moving average of $66.33. The stock has a market cap of $2.48 billion, a PE ratio of 29.60 and a beta of 1.33.

About Minerals Technologies

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.