Minerals Technologies (NYSE:MTX) was upgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued on Monday, Price Targets.com reports. The firm currently has a $75.00 target price on the basic materials company’s stock, down from their prior target price of $80.00. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 5.98% from the stock’s current price.
Separately, Zacks Investment Research upgraded Minerals Technologies from a “hold” rating to a “buy” rating and set a $81.00 price objective for the company in a research report on Thursday, January 20th.
Shares of MTX stock opened at $70.77 on Monday. The stock has a 50 day moving average price of $71.18. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.43 and a quick ratio of 1.77. Minerals Technologies has a 12 month low of $64.59 and a 12 month high of $88.62. The company has a market cap of $2.36 billion, a P/E ratio of 14.59 and a beta of 1.40.
Minerals Technologies (NYSE:MTX) last announced its quarterly earnings data on Thursday, February 3rd. The basic materials company reported $1.25 EPS for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.04. Minerals Technologies had a return on equity of 11.09% and a net margin of 8.84%. During the same period in the prior year, the company posted $1.08 earnings per share. On average, equities analysts expect that Minerals Technologies will post 5.81 EPS for the current year.
In other news, insider Dj Monagle III sold 9,340 shares of the stock in a transaction that occurred on Thursday, December 16th. The stock was sold at an average price of $72.48, for a total value of $676,963.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Thomas J. Meek sold 16,814 shares of the stock in a transaction that occurred on Wednesday, December 15th. The stock was sold at an average price of $71.05, for a total value of $1,194,634.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,754 shares of company stock valued at $2,510,492. 3.20% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Harbor Investment Advisory LLC increased its holdings in Minerals Technologies by 19.9% during the 4th quarter. Harbor Investment Advisory LLC now owns 1,373 shares of the basic materials company’s stock valued at $100,000 after purchasing an additional 228 shares in the last quarter. Advisor Group Holdings Inc. increased its holdings in Minerals Technologies by 24.9% during the 4th quarter. Advisor Group Holdings Inc. now owns 2,075 shares of the basic materials company’s stock valued at $151,000 after purchasing an additional 414 shares in the last quarter. Rowland & Co. Investment Counsel ADV increased its holdings in Minerals Technologies by 25.6% during the 3rd quarter. Rowland & Co. Investment Counsel ADV now owns 3,775 shares of the basic materials company’s stock valued at $177,000 after purchasing an additional 770 shares in the last quarter. Virtu Financial LLC acquired a new stake in Minerals Technologies during the 2nd quarter valued at $209,000. Finally, Meritage Portfolio Management acquired a new stake in Minerals Technologies during the 4th quarter valued at $218,000. 94.29% of the stock is owned by hedge funds and other institutional investors.
Minerals Technologies Company Profile
Minerals Technologies, Inc is a resource and technology-based company. It develops, produces, and markets a range of mineral, mineral-based, and synthetic mineral products. It operates through the following four segments: Performance Materials, Specialty Minerals, Refractories and Energy Services. The Performance Materials segment supplies bentonite and bentonite-related products, chromite and leonardite.
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