Minerals Technologies (NYSE:MTX) Shares Up 6.8%

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Minerals Technologies Inc (NYSE:MTX) shot up 6.8% during mid-day trading on Monday . The company traded as high as $46.68 and last traded at $46.13, 213,989 shares traded hands during trading. An increase of 4% from the average session volume of 204,874 shares. The stock had previously closed at $43.20.

A number of brokerages have recently issued reports on MTX. Zacks Investment Research upgraded shares of Minerals Technologies from a “sell” rating to a “hold” rating in a report on Tuesday, June 23rd. CL King upgraded shares of Minerals Technologies from a “neutral” rating to a “buy” rating and set a $55.00 price target for the company in a report on Monday, May 4th. JPMorgan Chase & Co. dropped their target price on shares of Minerals Technologies from $54.00 to $52.00 and set a “neutral” rating for the company in a report on Monday, June 1st. Sidoti assumed coverage on shares of Minerals Technologies in a report on Wednesday, April 8th. They issued a “buy” rating for the company. Finally, ValuEngine downgraded shares of Minerals Technologies from a “hold” rating to a “sell” rating in a report on Thursday, April 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $53.50.

The company has a current ratio of 2.35, a quick ratio of 1.69 and a debt-to-equity ratio of 0.58. The company’s fifty day moving average is $47.27 and its two-hundred day moving average is $47.49. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of 10.85, a P/E/G ratio of 2.97 and a beta of 1.80.

Minerals Technologies (NYSE:MTX) last posted its quarterly earnings results on Thursday, April 30th. The basic materials company reported $1.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.18. The business had revenue of $417.50 million during the quarter, compared to the consensus estimate of $427.83 million. Minerals Technologies had a net margin of 7.47% and a return on equity of 10.41%. The company’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.11 earnings per share. Analysts predict that Minerals Technologies Inc will post 3.88 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th were paid a $0.05 dividend. The ex-dividend date was Wednesday, May 27th. This represents a $0.20 annualized dividend and a dividend yield of 0.43%. Minerals Technologies’s dividend payout ratio (DPR) is 4.73%.

Large investors have recently bought and sold shares of the business. Private Capital Group LLC grew its stake in shares of Minerals Technologies by 26.2% in the first quarter. Private Capital Group LLC now owns 1,229 shares of the basic materials company’s stock worth $45,000 after acquiring an additional 255 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Minerals Technologies in the fourth quarter worth $55,000. Advisor Group Holdings Inc. acquired a new position in shares of Minerals Technologies in the first quarter worth $56,000. Advisor Group Inc. grew its stake in shares of Minerals Technologies by 25.3% in the fourth quarter. Advisor Group Inc. now owns 1,342 shares of the basic materials company’s stock worth $77,000 after acquiring an additional 271 shares in the last quarter. Finally, NumerixS Investment Technologies Inc grew its stake in shares of Minerals Technologies by 206.4% in the fourth quarter. NumerixS Investment Technologies Inc now owns 1,532 shares of the basic materials company’s stock worth $88,000 after acquiring an additional 1,032 shares in the last quarter. Institutional investors and hedge funds own 95.74% of the company’s stock.

Minerals Technologies Company Profile (NYSE:MTX)

Minerals Technologies Inc develops, produces, and markets various specialty mineral, mineral-based, and synthetic mineral products, and supporting systems and services worldwide. The company's Specialty Minerals segment produces and sells precipitated calcium carbonate and quicklime; and provides natural mineral products comprising limestone and talc.

Further Reading: Recession

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