Minerals Technologies (NYSE:MTX) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

Minerals Technologies Inc. (NYSE:MTX) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $71.94 and traded as high as $75.59. Minerals Technologies shares last traded at $75.2450, with a volume of 147,440 shares.

Analysts Set New Price Targets

MTX has been the subject of several recent analyst reports. Truist Financial upped their price target on Minerals Technologies from $89.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Wall Street Zen raised shares of Minerals Technologies from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 4th. Weiss Ratings raised shares of Minerals Technologies from a “sell (d+)” rating to a “hold (c+)” rating in a research report on Wednesday, May 6th. Finally, Seaport Research Partners restated a “buy” rating on shares of Minerals Technologies in a research note on Monday, May 4th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Minerals Technologies has a consensus rating of “Hold” and an average price target of $90.00.

Minerals Technologies Trading Down 0.7%

The business has a 50-day moving average of $76.41 and a two-hundred day moving average of $71.96. The company has a quick ratio of 1.47, a current ratio of 2.13 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of 14.48 and a beta of 1.15.

Minerals Technologies (NYSE:MTX) last announced its quarterly earnings data on Thursday, April 30th. The basic materials company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.12. The company had revenue of $546.90 million during the quarter, compared to the consensus estimate of $516.39 million. Minerals Technologies had a return on equity of 10.40% and a net margin of 7.60%.The company’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter last year, the company earned $1.14 EPS. Research analysts predict that Minerals Technologies Inc. will post 6.34 EPS for the current fiscal year.

Minerals Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Tuesday, June 2nd were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Tuesday, June 2nd. Minerals Technologies’s dividend payout ratio (DPR) is 9.28%.

Insiders Place Their Bets

In other Minerals Technologies news, VP Timothy Jordan sold 6,000 shares of the business’s stock in a transaction 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 sale, the vice president owned 1,279 shares of the company’s stock, valued at $102,665.33. The trade was a 82.43% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 3.70% of the stock is owned by corporate insiders.

Institutional Trading of Minerals Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada boosted its holdings in Minerals Technologies by 28.4% during the first quarter. Royal Bank of Canada now owns 19,629 shares of the basic materials company’s stock valued at $1,249,000 after purchasing an additional 4,337 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Minerals Technologies by 9.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 110,044 shares of the basic materials company’s stock worth $6,995,000 after acquiring an additional 9,363 shares during the last quarter. Jane Street Group LLC increased its holdings in Minerals Technologies by 177.6% during the 1st quarter. Jane Street Group LLC now owns 68,156 shares of the basic materials company’s stock valued at $4,333,000 after purchasing an additional 43,604 shares in the last quarter. Intech Investment Management LLC increased its holdings in Minerals Technologies by 30.5% during the 1st quarter. Intech Investment Management LLC now owns 18,504 shares of the basic materials company’s stock valued at $1,176,000 after purchasing an additional 4,322 shares in the last quarter. Finally, Strs Ohio bought a new position in Minerals Technologies in the 1st quarter valued at $70,000. Institutional investors own 97.29% of the company’s stock.

About Minerals Technologies

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.