Minerals Technologies (NYSE:MTX) Stock Crosses Above 200-Day Moving Average – Time to 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 trading hands.

Analyst Upgrades and Downgrades

Several analysts recently commented on MTX shares. 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. Wall Street Zen raised shares of Minerals Technologies from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 2nd. Seaport Research Partners reaffirmed a “buy” rating on shares of Minerals Technologies in a report on Monday, May 4th. Finally, Truist Financial raised 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. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Minerals Technologies has an average rating of “Hold” and a consensus price target of $90.00.

Minerals Technologies Stock Performance

The business’s fifty day moving average price is $74.37 and its 200-day moving average price is $68.61. 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 stock has a market cap of $2.36 billion, a PE ratio of 14.69 and a beta of 1.13.

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

Minerals Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Tuesday, June 2nd will be issued a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, June 2nd. This represents a $0.48 dividend on an annualized basis 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 the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $80.27, for a total value of $481,620.00. Following the transaction, the vice president owned 1,279 shares of the company’s stock, valued at approximately $102,665.33. This trade represents a 82.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Minerals Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MTX. SG Capital Management LLC raised its stake in Minerals Technologies by 137.1% during the 4th quarter. SG Capital Management LLC now owns 148,385 shares of the basic materials company’s stock worth $9,044,000 after acquiring an additional 548,385 shares during the period. Caption Management LLC raised its stake in Minerals Technologies by 102.7% during the 4th quarter. Caption Management LLC now owns 5,375 shares of the basic materials company’s stock worth $328,000 after acquiring an additional 205,375 shares during the period. Brandes Investment Partners LP raised its stake in Minerals Technologies by 22.9% during the 4th quarter. Brandes Investment Partners LP now owns 819,908 shares of the basic materials company’s stock worth $49,973,000 after acquiring an additional 152,950 shares during the period. Invenomic Capital Management LP bought a new stake in Minerals Technologies during the 4th quarter worth approximately $7,058,000. Finally, Ameriprise Financial Inc. raised its stake in Minerals Technologies by 26.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 496,215 shares of the basic materials company’s stock worth $27,327,000 after acquiring an additional 103,853 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.