Gabelli Comments on Minerals Technologies Inc.’s FY2016 Earnings (MTX)
Minerals Technologies Inc. (NYSE:MTX) – Investment analysts at Gabelli decreased their FY2016 earnings per share estimates for shares of Minerals Technologies in a research report issued on Wednesday. Gabelli analyst R. Morbelli now forecasts that the brokerage will post earnings of $4.44 per share for the year, down from their prior estimate of $4.52.
Separately, Zacks Investment Research downgraded Minerals Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, October 12th.
Minerals Technologies (NYSE:MTX) opened at 73.80 on Friday. Minerals Technologies has a 1-year low of $35.89 and a 1-year high of $74.05. The company’s 50-day moving average price is $68.54 and its 200 day moving average price is $64.20. The firm has a market capitalization of $2.58 billion, a PE ratio of 22.84 and a beta of 2.00.
Several large investors have recently made changes to their positions in MTX. Citadel Advisors LLC increased its stake in shares of Minerals Technologies by 24.0% in the third quarter. Citadel Advisors LLC now owns 40,608 shares of the company’s stock worth $2,871,000 after buying an additional 7,852 shares during the period. Morgan Stanley increased its stake in shares of Minerals Technologies by 47.5% in the third quarter. Morgan Stanley now owns 149,069 shares of the company’s stock worth $10,538,000 after buying an additional 48,030 shares during the period. Principal Financial Group Inc. increased its stake in shares of Minerals Technologies by 3.7% in the third quarter. Principal Financial Group Inc. now owns 138,033 shares of the company’s stock worth $9,757,000 after buying an additional 4,966 shares during the period. Northern Trust Corp increased its stake in shares of Minerals Technologies by 1.5% in the third quarter. Northern Trust Corp now owns 1,099,348 shares of the company’s stock worth $77,713,000 after buying an additional 16,640 shares during the period. Finally, California State Teachers Retirement System increased its stake in shares of Minerals Technologies by 0.8% in the third quarter. California State Teachers Retirement System now owns 73,410 shares of the company’s stock worth $5,189,000 after buying an additional 600 shares during the period. Institutional investors own 95.61% of the company’s stock.
In other news, VP Douglas W. Mayger sold 2,825 shares of the stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $70.77, for a total transaction of $199,925.25. Following the completion of the sale, the vice president now owns 26,585 shares in the company, valued at approximately $1,881,420.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jonathan J. Hastings sold 7,606 shares of the stock in a transaction on Wednesday, August 31st. The shares were sold at an average price of $70.85, for a total value of $538,885.10. Following the sale, the insider now owns 18,565 shares of the company’s stock, valued at approximately $1,315,330.25. The disclosure for this sale can be found here. 3.70% of the stock is owned by company insiders.
Minerals Technologies Company Profile
Minerals Technologies Inc is a resource-and technology-based company that develops, produces and markets worldwide a range of specialty mineral, mineral-based and synthetic mineral products and related systems and services. It has five segments. The Specialty Minerals, Performance Materials, and Construction Technologies segments produce and sell products and technologies based primarily upon the mineral products calcium carbonate, bentonite, talc, chromite and leonardite.
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