Minerals Technologies (NYSE:MTX) Hits New 52-Week High – Should You Buy?

Shares of Minerals Technologies Inc. (NYSE:MTX) hit a new 52-week high during trading on Thursday . The company traded as high as $80.99 and last traded at $79.2020, with a volume of 350946 shares changing hands. The stock had previously closed at $79.00.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Minerals Technologies in a report on Wednesday, April 22nd. Zacks Research raised shares of Minerals Technologies from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 14th. Seaport Research Partners reaffirmed a “buy” rating on shares of Minerals Technologies in a report on Monday. Truist Financial increased their price objective on shares of Minerals Technologies from $89.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday. Finally, 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. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $90.00.

Minerals Technologies Stock Up 0.3%

The company has a debt-to-equity ratio of 0.54, a current ratio of 2.13 and a quick ratio of 1.47. The company’s 50-day simple moving average is $70.58 and its 200 day simple moving average is $65.59. The firm has a market cap of $2.46 billion, a P/E ratio of 15.32 and a beta of 1.12.

Minerals Technologies (NYSE:MTX) last released its quarterly earnings data on Thursday, April 30th. The basic materials company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.26 by $0.12. Minerals Technologies had a net margin of 7.60% and a return on equity of 10.40%. The business had revenue of $546.90 million during the quarter, compared to analyst estimates of $516.39 million. During the same quarter last year, the business earned $1.14 earnings per share. Minerals Technologies’s quarterly revenue was up 11.2% compared to the same quarter last year. Research analysts anticipate that Minerals Technologies Inc. will post 6.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Minerals Technologies

Institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC lifted its position 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 valued at $33,000 after purchasing an additional 514 shares during the last quarter. First Horizon Corp bought a new position in Minerals Technologies during the third quarter valued at $35,000. Torren Management LLC bought a new position in Minerals Technologies during the fourth quarter valued at $50,000. Danske Bank A S bought a new position in Minerals Technologies during the third quarter valued at $56,000. Finally, Strs Ohio bought a new position in Minerals Technologies during the first quarter valued at $70,000. Institutional investors own 97.29% of the company’s stock.

Minerals Technologies Company Profile

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.