Minerals Technologies (NYSE:MTX) VP Sells $481,620.00 in Stock

Minerals Technologies Inc. (NYSE:MTX) VP Timothy Jordan sold 6,000 shares of the company’s 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 completion of the transaction, the vice president directly owned 1,279 shares in the company, valued at approximately $102,665.33. The trade was a 82.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Minerals Technologies Stock Performance

Shares of NYSE MTX opened at $76.24 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.47 and a current ratio of 2.13. The firm has a market cap of $2.36 billion, a price-to-earnings ratio of 14.75 and a beta of 1.12. The business’s 50-day simple moving average is $71.83 and its 200-day simple moving average is $66.49. Minerals Technologies Inc. has a 52 week low of $53.10 and a 52 week high of $84.34.

Minerals Technologies (NYSE:MTX) last issued its quarterly earnings data 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 business had revenue of $546.90 million for the quarter, compared to analyst estimates of $516.39 million. Minerals Technologies had a return on equity of 10.40% and a net margin of 7.60%.The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.14 EPS. As a group, equities research analysts expect that Minerals Technologies Inc. will post 6.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on MTX shares. Truist Financial increased their price objective on Minerals Technologies from $89.00 to $90.00 and gave the company a “buy” rating in a report on Monday, May 4th. Weiss Ratings raised Minerals Technologies from a “sell (d+)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Wall Street Zen raised Minerals Technologies from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 2nd. Finally, Seaport Research Partners reissued a “buy” rating on shares of Minerals Technologies in a report on Monday, May 4th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $90.00.

Institutional Trading of Minerals Technologies

A number of hedge funds have recently modified their holdings of the company. Parallel Advisors LLC lifted its position in shares of Minerals Technologies by 36.0% in the 1st quarter. Parallel Advisors LLC now owns 552 shares of the basic materials company’s stock worth $39,000 after acquiring an additional 146 shares during the period. ProShare Advisors LLC lifted its position in shares of Minerals Technologies by 3.2% in the 4th quarter. ProShare Advisors LLC now owns 6,139 shares of the basic materials company’s stock worth $374,000 after acquiring an additional 192 shares during the period. Rockefeller Capital Management L.P. lifted its position in shares of 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 worth $175,000 after acquiring an additional 192 shares during the period. Hsbc Holdings PLC lifted its position in shares of Minerals Technologies by 4.5% during the 4th quarter. Hsbc Holdings PLC now owns 4,514 shares of the basic materials company’s stock worth $276,000 after buying an additional 193 shares during the period. Finally, Jain Global LLC lifted its position in shares of Minerals Technologies by 6.4% during the 4th quarter. Jain Global LLC now owns 4,143 shares of the basic materials company’s stock worth $253,000 after buying an additional 248 shares during the period. 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.