Minerals Technologies Inc. (MTX) Given $77.00 Consensus Price Target by Analysts

Minerals Technologies Inc. (NYSE:MTX) has earned a consensus broker rating score of 2.00 (Buy) from the four brokers that provide coverage for the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a hold recommendation and two have given a strong buy recommendation to the company.

Brokerages have set a 1 year consensus target price of $77.00 for the company and are predicting that the company will post $1.10 EPS for the current quarter, according to Zacks. Zacks has also assigned Minerals Technologies an industry rank of 106 out of 265 based on the ratings given to related companies.

A number of equities analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Minerals Technologies from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. KeyCorp restated a “hold” rating on shares of Minerals Technologies in a research report on Monday, November 6th.

In other Minerals Technologies news, insider Dj Monagle III sold 25,639 shares of the firm’s stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $70.03, for a total value of $1,795,499.17. Following the completion of the sale, the insider now owns 39,579 shares of the company’s stock, valued at $2,771,717.37. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 2.20% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Minerals Technologies by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 2,940,033 shares of the basic materials company’s stock valued at $215,211,000 after purchasing an additional 27,293 shares during the last quarter. Macquarie Group Ltd. raised its stake in Minerals Technologies by 13.6% in the 3rd quarter. Macquarie Group Ltd. now owns 1,229,195 shares of the basic materials company’s stock valued at $86,843,000 after purchasing an additional 146,972 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Minerals Technologies by 1.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,220,796 shares of the basic materials company’s stock valued at $89,362,000 after purchasing an additional 20,734 shares during the last quarter. State Street Corp raised its stake in Minerals Technologies by 3.2% in the 2nd quarter. State Street Corp now owns 1,151,508 shares of the basic materials company’s stock valued at $84,292,000 after purchasing an additional 35,174 shares during the last quarter. Finally, Royce & Associates LP raised its stake in Minerals Technologies by 2.5% in the 3rd quarter. Royce & Associates LP now owns 1,127,286 shares of the basic materials company’s stock valued at $79,643,000 after purchasing an additional 27,656 shares during the last quarter. 94.95% of the stock is owned by institutional investors and hedge funds.

Shares of Minerals Technologies (NYSE:MTX) opened at $69.25 on Thursday. The company has a quick ratio of 1.98, a current ratio of 2.66 and a debt-to-equity ratio of 0.82. Minerals Technologies has a 1-year low of $62.55 and a 1-year high of $83.85. The firm has a market cap of $2,516.35, a P/E ratio of 15.57 and a beta of 2.25.

Minerals Technologies (NYSE:MTX) last released its quarterly earnings data on Thursday, November 2nd. The basic materials company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.02. Minerals Technologies had a net margin of 9.48% and a return on equity of 14.59%. The company had revenue of $424.40 million for the quarter, compared to analysts’ expectations of $404.80 million. During the same quarter last year, the company earned $1.17 earnings per share. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. equities analysts forecast that Minerals Technologies will post 4.58 EPS for the current year.

Minerals Technologies announced that its board has approved a share repurchase plan on Thursday, September 21st that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the basic materials company to buy up to 6.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Monday, November 27th will be given a $0.05 dividend. The ex-dividend date of this dividend is Friday, November 24th. This represents a $0.20 dividend on an annualized basis and a yield of 0.29%. Minerals Technologies’s dividend payout ratio (DPR) is 4.56%.

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About Minerals Technologies

Minerals Technologies Inc is a resource- and technology-based company that develops, produces and markets a range of specialty mineral, mineral-based and synthetic mineral products and related systems and services around the world. It operates through four segments. The Specialty Minerals segment produces and sells the synthetic mineral product precipitated calcium carbonate (PCC), mines mineral ores, and processes and sells natural mineral products, primarily limestone and talc.

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