Minerals Technologies (NYSE:MTX) Shares Cross Above 200 Day Moving Average – Should You Sell?

Shares of Minerals Technologies Inc. (NYSE:MTX) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-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.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MTX. Truist Financial upped their price target on shares of Minerals Technologies from $89.00 to $90.00 and gave the company a “buy” rating in a report on Monday, May 4th. Wall Street Zen upgraded shares of Minerals Technologies from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 2nd. 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 reaffirmed a “buy” rating on shares of Minerals Technologies in a research note on Monday, May 4th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Minerals Technologies presently has a consensus rating of “Hold” and an average price target of $90.00.

Minerals Technologies Stock Up 2.1%

The stock’s fifty day moving average price is $74.26 and its 200-day moving average price is $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. The company has a market capitalization of $2.38 billion, a price-to-earnings ratio of 14.82 and a beta of 1.13.

Minerals Technologies (NYSE:MTX) last announced its earnings results on Thursday, April 30th. The basic materials company reported $1.38 EPS for the quarter, topping 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 analysts’ expectations of $516.39 million. During the same quarter in the prior year, the company posted $1.14 earnings per share. The firm’s revenue was up 11.2% on a year-over-year basis. On average, sell-side analysts predict that Minerals Technologies Inc. will post 6.33 earnings per share for the current fiscal year.

Minerals Technologies Announces Dividend

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

Insider Activity

In related news, VP Timothy Jordan sold 6,000 shares of Minerals Technologies stock in a transaction dated Monday, May 11th. The stock was 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 approximately $102,665.33. The trade was a 82.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Parallel Advisors LLC lifted its stake in shares of Minerals Technologies by 36.0% during the 1st quarter. Parallel Advisors LLC now owns 552 shares of the basic materials company’s stock worth $39,000 after buying an additional 146 shares during the last quarter. ProShare Advisors LLC grew its stake in Minerals Technologies by 3.2% in the 4th quarter. ProShare Advisors LLC now owns 6,139 shares of the basic materials company’s stock valued at $374,000 after buying an additional 192 shares during the last quarter. Rockefeller Capital Management L.P. grew its stake in Minerals Technologies by 7.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,878 shares of the basic materials company’s stock valued at $175,000 after buying an additional 192 shares during the last quarter. Hsbc Holdings PLC raised its holdings in Minerals Technologies by 4.5% in the 4th quarter. Hsbc Holdings PLC now owns 4,514 shares of the basic materials company’s stock valued at $276,000 after acquiring an additional 193 shares during the period. Finally, Jain Global LLC lifted its position in Minerals Technologies by 6.4% during the fourth quarter. Jain Global LLC now owns 4,143 shares of the basic materials company’s stock worth $253,000 after acquiring an additional 248 shares during the last quarter. 97.29% of the stock is owned by institutional investors and hedge funds.

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.