Raymond James Financial Services Advisors Inc. Takes $214,000 Position in Minerals Technologies Inc. (NYSE:MTX)

Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Minerals Technologies Inc. (NYSE:MTX) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 2,997 shares of the basic materials company’s stock, valued at approximately $214,000.

Several other institutional investors have also recently made changes to their positions in MTX. Skandinaviska Enskilda Banken AB publ purchased a new stake in Minerals Technologies in the third quarter valued at approximately $44,000. Acadian Asset Management LLC purchased a new stake in Minerals Technologies in the third quarter valued at approximately $58,000. SG Americas Securities LLC purchased a new stake in Minerals Technologies in the fourth quarter valued at approximately $158,000. Washington Trust Advisors Inc. raised its position in Minerals Technologies by 825.0% in the third quarter. Washington Trust Advisors Inc. now owns 3,700 shares of the basic materials company’s stock valued at $203,000 after purchasing an additional 3,300 shares during the period. Finally, Cable Hill Partners LLC purchased a new stake in Minerals Technologies in the third quarter valued at approximately $210,000. Hedge funds and other institutional investors own 97.29% of the company’s stock.

Insider Buying and Selling

In related news, SVP Jonathan J. Hastings sold 12,922 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $71.48, for a total value of $923,664.56. Following the completion of the sale, the senior vice president now directly owns 53,862 shares of the company’s stock, valued at $3,850,055.76. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, SVP Jonathan J. Hastings sold 12,922 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $71.48, for a total value of $923,664.56. Following the completion of the sale, the senior vice president now directly owns 53,862 shares of the company’s stock, valued at $3,850,055.76. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Dj Monagle III sold 1,180 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $74.12, for a total transaction of $87,461.60. Following the completion of the sale, the insider now directly owns 81,031 shares of the company’s stock, valued at $6,006,017.72. The disclosure for this sale can be found here. Insiders own 3.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on MTX. Seaport Res Ptn upgraded shares of Minerals Technologies from a “neutral” rating to a “buy” rating in a research note on Monday, February 5th. StockNews.com upgraded shares of Minerals Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, February 8th. Finally, TheStreet upgraded shares of Minerals Technologies from a “c+” rating to a “b” rating in a research note on Friday, February 2nd. Four investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $68.50.

Minerals Technologies Stock Performance

Shares of MTX stock opened at $72.10 on Thursday. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.54. The firm has a fifty day moving average price of $72.78 and a 200 day moving average price of $66.29. The company has a market cap of $2.33 billion, a P/E ratio of 27.84 and a beta of 1.33. Minerals Technologies Inc. has a 12 month low of $48.61 and a 12 month high of $76.80.

Minerals Technologies (NYSE:MTX) last issued its earnings results on Friday, February 2nd. The basic materials company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.03. The firm had revenue of $524.50 million during the quarter, compared to the consensus estimate of $506.67 million. Minerals Technologies had a net margin of 3.88% and a return on equity of 10.26%. The company’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.67 earnings per share. Sell-side analysts predict that Minerals Technologies Inc. will post 5.9 earnings per share for the current fiscal year.

Minerals Technologies 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.