Brokerages Set Minerals Technologies Inc. (NYSE:MTX) PT at $65.00

Shares of Minerals Technologies Inc. (NYSE:MTX) have received a consensus rating of “Buy” from the two brokerages that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a buy rating. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $65.00.

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

Insider Buying and Selling

In related news, insider Dj Monagle III sold 14,229 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $83.63, for a total value of $1,189,971.27. Following the completion of the transaction, the insider now owns 79,731 shares in the company, valued at approximately $6,667,903.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 3.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Minerals Technologies

A number of institutional investors have recently bought and sold shares of MTX. Norges Bank acquired a new position in Minerals Technologies during the fourth quarter valued at $19,192,000. Great Lakes Advisors LLC bought a new stake in shares of Minerals Technologies during the 4th quarter worth about $3,869,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Minerals Technologies by 10.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 514,036 shares of the basic materials company’s stock worth $38,697,000 after buying an additional 48,378 shares during the last quarter. Acadian Asset Management LLC grew its position in shares of Minerals Technologies by 95.4% in the second quarter. Acadian Asset Management LLC now owns 83,051 shares of the basic materials company’s stock valued at $6,901,000 after purchasing an additional 40,551 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its stake in Minerals Technologies by 42.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 108,026 shares of the basic materials company’s stock valued at $8,983,000 after purchasing an additional 32,178 shares during the period. Hedge funds and other institutional investors own 97.29% of the company’s stock.

Minerals Technologies Stock Performance

Shares of NYSE:MTX opened at $73.70 on Tuesday. The firm has a market cap of $2.38 billion, a PE ratio of 25.50 and a beta of 1.30. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.72 and a current ratio of 2.46. Minerals Technologies has a one year low of $48.61 and a one year high of $90.29. The firm’s 50 day simple moving average is $76.54 and its 200-day simple moving average is $77.69.

Minerals Technologies (NYSE:MTX) last released its earnings results on Thursday, July 25th. The basic materials company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.05. Minerals Technologies had a return on equity of 11.46% and a net margin of 4.05%. The firm had revenue of $541.20 million for the quarter, compared to the consensus estimate of $561.60 million. During the same period in the prior year, the firm earned $1.31 EPS. The firm’s revenue was down 1.9% on a year-over-year basis. As a group, equities analysts predict that Minerals Technologies will post 6.22 EPS for the current year.

Minerals Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 16th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend was Friday, August 16th. Minerals Technologies’s dividend payout ratio is currently 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.