Key Points
- Minerals Technologies VP Timothy Jordan sold 6,000 shares on May 11 at an average price of $80.27, generating about $481,620 and cutting his stake by 82.43% to 1,279 shares.
- The company beat quarterly earnings expectations, reporting $1.38 EPS versus $1.26 expected, while revenue rose 11.2% year over year to $546.9 million.
- Analysts remain cautious but generally positive: the stock has a consensus Hold rating with a $90 average price target, and shares recently traded near their 52-week high.
Minerals Technologies Inc. (NYSE:MTX - Get Free Report) VP Timothy Jordan sold 6,000 shares of the business'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 transaction, the vice president owned 1,279 shares of the company's stock, valued at $102,665.33. This represents a 82.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Minerals Technologies Price Performance
Shares of MTX opened at $82.81 on Thursday. Minerals Technologies Inc. has a 12 month low of $53.10 and a 12 month high of $83.48. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.13 and a quick ratio of 1.47. The stock has a fifty day moving average price of $71.55 and a 200 day moving average price of $66.27. The company has a market cap of $2.57 billion, a P/E ratio of 16.02 and a beta of 1.12.
Minerals Technologies (NYSE:MTX - Get Free Report) last posted its earnings results on Thursday, April 30th. The basic materials company reported $1.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.26 by $0.12. Minerals Technologies had a return on equity of 10.40% and a net margin of 7.60%.The company had revenue of $546.90 million for the quarter, compared to analysts' expectations of $516.39 million. During the same period last year, the business posted $1.14 earnings per share. The firm's quarterly revenue was up 11.2% compared to the same quarter last year. On average, research analysts forecast that Minerals Technologies Inc. will post 6.33 earnings per share for the current year.
Institutional Investors Weigh In On Minerals Technologies
Several institutional investors have recently bought and sold shares of MTX. Sei Investments Co. grew its position in Minerals Technologies by 39.9% in the 1st quarter. Sei Investments Co. now owns 40,049 shares of the basic materials company's stock valued at $2,840,000 after buying an additional 11,427 shares in the last quarter. Cetera Investment Advisers raised its position in shares of Minerals Technologies by 4.5% during the 1st quarter. Cetera Investment Advisers now owns 9,058 shares of the basic materials company's stock worth $642,000 after buying an additional 390 shares in the last quarter. Parallel Advisors LLC lifted its stake in shares of Minerals Technologies by 36.0% in the 1st quarter. Parallel Advisors LLC now owns 552 shares of the basic materials company's stock worth $39,000 after acquiring an additional 146 shares during the period. Fifth Third Bancorp boosted its holdings in shares of Minerals Technologies by 10,630.5% in the first quarter. Fifth Third Bancorp now owns 15,130 shares of the basic materials company's stock valued at $1,073,000 after acquiring an additional 14,989 shares in the last quarter. Finally, Isthmus Partners LLC boosted its holdings in shares of Minerals Technologies by 5.9% in the first quarter. Isthmus Partners LLC now owns 47,596 shares of the basic materials company's stock valued at $3,376,000 after acquiring an additional 2,669 shares in the last quarter. Institutional investors and hedge funds own 97.29% of the company's stock.
Analysts Set New Price Targets
A number of research analysts have issued reports on MTX shares. Seaport Research Partners reissued a "buy" rating on shares of Minerals Technologies in a research note on Monday, May 4th. Truist Financial raised their price target on shares of Minerals Technologies from $89.00 to $90.00 and gave the company a "buy" rating in a research note on Monday, May 4th. Wall Street Zen raised Minerals Technologies from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 2nd. Zacks Research upgraded Minerals Technologies from a "strong sell" rating to a "hold" rating in a research report on Wednesday, January 14th. Finally, Weiss Ratings raised Minerals Technologies from a "sell (d+)" rating to a "hold (c+)" rating in a report on Wednesday, May 6th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $90.00.
View Our Latest Research Report on MTX
About Minerals Technologies
(
Get Free Report)
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.
Further Reading
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