Minerals Technologies (NYSE:MTX) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Shares of Minerals Technologies Inc. (NYSE:MTX) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $68.56 and traded as high as $76.86. Minerals Technologies shares last traded at $76.6150, with a volume of 156,312 shares.

Analyst Upgrades and Downgrades

MTX has been the topic of several research analyst reports. Wall Street Zen raised shares of Minerals Technologies from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 2nd. Seaport Research Partners reaffirmed a “buy” rating on shares of Minerals Technologies in a report on Monday, May 4th. Weiss Ratings upgraded Minerals Technologies from a “sell (d+)” rating to a “hold (c+)” rating in a research report on Wednesday, May 6th. Finally, Truist Financial lifted their target price on Minerals Technologies from $89.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, May 4th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $90.00.

Minerals Technologies Stock Performance

The stock has a market cap of $2.38 billion, a P/E ratio of 14.82 and a beta of 1.13. The stock has a fifty day simple moving average of $74.26 and a 200-day simple moving average of $68.56. The company has a quick ratio of 1.47, a current ratio of 2.13 and a debt-to-equity ratio of 0.54.

Minerals Technologies (NYSE:MTX) last announced its quarterly earnings results on Thursday, April 30th. The basic materials company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.12. The company had revenue of $546.90 million during the quarter, compared to analysts’ expectations of $516.39 million. Minerals Technologies had a return on equity of 10.40% and a net margin of 7.60%.Minerals Technologies’s revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.14 EPS. Equities analysts expect that Minerals Technologies Inc. will post 6.33 earnings per share for the current fiscal year.

Minerals Technologies Announces Dividend

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

Insiders Place Their Bets

In other news, VP Timothy Jordan sold 6,000 shares of Minerals Technologies stock in a transaction on Monday, May 11th. The shares were sold at an average price of $80.27, for a total transaction of $481,620.00. Following the transaction, the vice president directly owned 1,279 shares of the company’s stock, valued at $102,665.33. This trade represents a 82.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 3.70% of the company’s stock.

Institutional Trading of Minerals Technologies

A number of large investors have recently made changes to their positions in MTX. EverSource Wealth Advisors LLC lifted its holdings in Minerals Technologies by 626.8% during the second quarter. EverSource Wealth Advisors LLC now owns 596 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 514 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of Minerals Technologies by 36.0% in the first quarter. Parallel Advisors LLC now owns 552 shares of the basic materials company’s stock worth $39,000 after acquiring an additional 146 shares in the last quarter. Torren Management LLC bought a new stake in shares of Minerals Technologies in the fourth quarter worth about $50,000. Danske Bank A S acquired a new stake in shares of Minerals Technologies during the third quarter worth about $56,000. Finally, Strs Ohio bought a new position in shares of Minerals Technologies during the 1st quarter valued at about $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.