Minerals Technologies Inc. (NYSE:MTX) Receives $65.00 Average PT from Brokerages

Minerals Technologies Inc. (NYSE:MTX) has been assigned an average recommendation of “Buy” from the two brokerages that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a buy recommendation. The average twelve-month price target among analysts that have covered the stock in the last year is $65.00.

Separately, StockNews.com cut shares of Minerals Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th.

Hedge Funds Weigh In On Minerals Technologies

Several large investors have recently made changes to their positions in the business. Norges Bank acquired a new position in shares of Minerals Technologies in the 4th quarter worth $19,192,000. Great Lakes Advisors LLC acquired a new stake in Minerals Technologies during the 4th quarter worth about $3,869,000. Allspring Global Investments Holdings LLC lifted its stake in Minerals Technologies by 10.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 514,036 shares of the basic materials company’s stock valued at $38,697,000 after buying an additional 48,378 shares in the last quarter. Acadian Asset Management LLC boosted its holdings 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 worth $6,901,000 after buying an additional 40,551 shares during the period. Finally, Cubist Systematic Strategies LLC increased its position in shares of Minerals Technologies by 42.4% in the second quarter. Cubist Systematic Strategies LLC now owns 108,026 shares of the basic materials company’s stock worth $8,983,000 after acquiring an additional 32,178 shares in the last quarter. Institutional investors own 97.29% of the company’s stock.

Minerals Technologies Stock Performance

Shares of MTX stock opened at $74.16 on Tuesday. The business has a 50 day simple moving average of $76.08 and a 200 day simple moving average of $77.78. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.46 and a quick ratio of 1.72. The firm has a market capitalization of $2.39 billion, a price-to-earnings ratio of 25.66 and a beta of 1.30. Minerals Technologies has a 12-month low of $48.61 and a 12-month high of $90.29.

Minerals Technologies (NYSE:MTX) last issued its quarterly earnings data on Thursday, July 25th. The basic materials company reported $1.65 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.05. The business had revenue of $541.20 million for the quarter, compared to analysts’ expectations of $561.60 million. Minerals Technologies had a net margin of 4.05% and a return on equity of 11.46%. The company’s revenue was down 1.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.31 earnings per share. On average, equities research analysts anticipate that Minerals Technologies will post 6.22 EPS for the current year.

Minerals Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 16th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.54%. The ex-dividend date was Friday, August 16th. Minerals Technologies’s dividend payout ratio (DPR) is presently 13.84%.

About Minerals Technologies

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.