Analysts Set Minerals Technologies Inc. (NYSE:MTX) Price Target at $65.00

Minerals Technologies Inc. (NYSE:MTX) has been given an average recommendation of “Buy” by the two brokerages that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a buy recommendation. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $65.00.

Separately, StockNews.com upgraded shares of Minerals Technologies from a “hold” rating to a “buy” rating in a research report on Friday.

Institutional Investors Weigh In On Minerals Technologies

A number of large investors have recently added to or reduced their stakes in the company. Texas Permanent School Fund Corp grew its holdings in Minerals Technologies by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 28,482 shares of the basic materials company’s stock valued at $2,144,000 after purchasing an additional 368 shares in the last quarter. Diversified Trust Co boosted its stake in Minerals Technologies by 4.0% during the 3rd quarter. Diversified Trust Co now owns 10,933 shares of the basic materials company’s stock valued at $844,000 after acquiring an additional 419 shares during the last quarter. ProShare Advisors LLC boosted its stake in Minerals Technologies by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 6,563 shares of the basic materials company’s stock valued at $494,000 after acquiring an additional 452 shares during the last quarter. Summit Global Investments boosted its stake in Minerals Technologies by 2.6% during the 2nd quarter. Summit Global Investments now owns 18,799 shares of the basic materials company’s stock valued at $1,563,000 after acquiring an additional 480 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in Minerals Technologies by 3.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,522 shares of the basic materials company’s stock valued at $1,457,000 after acquiring an additional 526 shares during the last quarter. 97.29% of the stock is owned by institutional investors and hedge funds.

Minerals Technologies Stock Up 1.2 %

Shares of NYSE MTX opened at $77.91 on Friday. The company has a quick ratio of 1.72, a current ratio of 2.46 and a debt-to-equity ratio of 0.53. Minerals Technologies has a 52 week low of $49.50 and a 52 week high of $90.29. The firm has a 50-day moving average price of $74.11 and a 200 day moving average price of $78.02. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of 26.96 and a beta of 1.30.

Minerals Technologies (NYSE:MTX) last announced its earnings results on Thursday, July 25th. The basic materials company reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.05. The company had revenue of $541.20 million during the quarter, compared to analysts’ expectations of $561.60 million. Minerals Technologies had a net margin of 4.05% and a return on equity of 11.46%. The firm’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.31 earnings per share. Equities research analysts anticipate that Minerals Technologies will post 6.22 EPS for the current fiscal year.

Minerals Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 16th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend was Friday, August 16th. Minerals Technologies’s payout ratio is currently 13.84%.

About Minerals Technologies

Minerals Technologies Inc develops, produces, and markets various mineral, mineral-based, and related systems and services. The company operates through two segments, Consumer & Specialties, and Engineered Solutions segments. The Consumer & Specialties segment offers household and personal care products, such as pet litter, personal care, fabric care, edible oil and other fluid purification, animal health, and agricultural products; and specialty additives products, including precipitated calcium carbonate and ground calcium carbonate products that are used in the paper, paperboard, and fiber based packaging industries, as well as automotive, construction, and table and food applications.