Minerals Technologies (NYSE:MTX) VP Timothy Jordan Sells 6,000 Shares

Minerals Technologies Inc. (NYSE:MTX) VP Timothy Jordan sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $80.27, for a total value of $481,620.00. Following the completion of the sale, the vice president directly owned 1,279 shares of the company’s stock, valued at $102,665.33. This represents a 82.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Minerals Technologies Price Performance

Shares of MTX traded up $0.61 during mid-day trading on Wednesday, hitting $81.62. The company’s stock had a trading volume of 43,826 shares, compared to its average volume of 200,540. The company has a current ratio of 2.13, a quick ratio of 1.47 and a debt-to-equity ratio of 0.54. The firm has a 50-day simple moving average of $71.31 and a 200 day simple moving average of $66.12. The firm has a market capitalization of $2.53 billion, a P/E ratio of 15.84 and a beta of 1.12. Minerals Technologies Inc. has a 1-year low of $53.10 and a 1-year high of $82.67.

Minerals Technologies (NYSE:MTX) last posted its quarterly earnings results on Thursday, April 30th. The basic materials company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.26 by $0.12. The business had revenue of $546.90 million during the quarter, compared to analysts’ expectations of $516.39 million. Minerals Technologies had a return on equity of 10.40% and a net margin of 7.60%.The company’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period last year, the firm earned $1.14 EPS. Analysts predict that Minerals Technologies Inc. will post 6.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MTX. Wall Street Zen raised Minerals Technologies from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 2nd. Zacks Research raised Minerals Technologies from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 14th. Weiss Ratings raised Minerals Technologies from a “sell (d+)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. Truist Financial raised their price objective on Minerals Technologies from $89.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Finally, Seaport Research Partners reaffirmed a “buy” rating on shares of Minerals Technologies in a research note on Monday, May 4th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $90.00.

Hedge Funds Weigh In On Minerals Technologies

Several hedge funds have recently bought and sold shares of MTX. Parallel Advisors LLC increased its position in Minerals Technologies by 36.0% during the first quarter. Parallel Advisors LLC now owns 552 shares of the basic materials company’s stock worth $39,000 after buying an additional 146 shares in the last quarter. First Horizon Corp purchased a new position in Minerals Technologies during the third quarter worth $35,000. EverSource Wealth Advisors LLC increased its position in Minerals Technologies by 626.8% during the second quarter. EverSource Wealth Advisors LLC now owns 596 shares of the basic materials company’s stock worth $33,000 after buying an additional 514 shares in the last quarter. Torren Management LLC purchased a new position in Minerals Technologies during the fourth quarter worth $50,000. Finally, Danske Bank A S purchased a new position in Minerals Technologies during the third quarter worth $56,000. 97.29% of the stock is owned by hedge funds and other institutional investors.

Minerals Technologies Company Profile

Minerals Technologies Inc develops, produces and processes a broad range of mineral-based products and solutions that serve a variety of industrial applications. Its offerings include bentonite, perlite, precipitated calcium carbonate (PCC), mineral sands, foundry additives, performance minerals and specialty chemicals designed to enhance performance in markets such as paper, steel, construction, oil and gas, environmental remediation and consumer products.

The company operates through several business segments, including Specialty Minerals, Refractory Minerals, Performance Materials and Recycled Materials.