The stock of Minerals Technologies Inc (NYSE:MTX) reached all time high today, Nov, 22 and still has $84.85 target or 7.00% above today’s $79.30 share price. This indicates more upside for the $2.90 billion company. This technical setup was reported by Barchart.com. If the $84.85 PT is reached, the company will be worth $203.00 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 74,706 shares traded hands. Minerals Technologies Inc (NYSE:MTX) has risen 31.75% since April 20, 2016 and is uptrending. It has outperformed by 27.19% the S&P500.
Minerals Technologies Inc (NYSE:MTX) Ratings Coverage
Out of 2 analysts covering Minerals Technologies (NYSE:MTX), 0 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 0 are positive. Minerals Technologies has been the topic of 5 analyst reports since August 31, 2015 according to StockzIntelligence Inc. The company was maintained on Monday, August 31 by Wedbush. The stock has “Neutral” rating given by Wedbush on Thursday, May 12. Wedbush maintained Minerals Technologies Inc (NYSE:MTX) rating on Tuesday, December 29. Wedbush has “Outperform” rating and $66 price target. The firm has “Overweight” rating by KeyBanc Capital Markets given on Tuesday, October 13. The company was downgraded on Monday, September 19 by KeyBanc Capital Markets.
According to Zacks Investment Research, “Minerals Technologies Inc. is a resource- and technology-based company that develops, produces and markets worldwide a broad range of specialty mineral, mineral-based and synthetic mineral products and related systems and services. The Company has five reportable segments: Specialty Minerals, Refractories, Performance Materials, Construction Technologies and Energy Services.”
Insitutional Activity: The institutional sentiment increased to 1.18 in Q2 2016. Its up 0.03, from 1.15 in 2016Q1. The ratio increased, as 14 funds sold all Minerals Technologies Inc shares owned while 66 reduced positions. 19 funds bought stakes while 73 increased positions. They now own 32.85 million shares or 0.97% less from 33.17 million shares in 2016Q1.
Teachers Advsrs accumulated 0.03% or 315,305 shares. Citigroup Inc has 0% invested in the company for 4,419 shares. Moreover, Pnc Svcs has 0% invested in Minerals Technologies Inc (NYSE:MTX) for 32,828 shares. The Massachusetts-based State Street Corp has invested 0.01% in Minerals Technologies Inc (NYSE:MTX). Blackrock Grp Limited owns 22,975 shares or 0% of their US portfolio. The Switzerland-based Zurcher Kantonalbank (Zurich Cantonalbank) has invested 0% in Minerals Technologies Inc (NYSE:MTX). Teachers Retirement Systems Of The State Of Kentucky, a Kentucky-based fund reported 9,500 shares. Bnp Paribas Investment Prtnrs Sa has 75,321 shares for 0.04% of their US portfolio. Leuthold Lc last reported 50,404 shares in the company. D E Shaw Com Incorporated has invested 0% of its portfolio in Minerals Technologies Inc (NYSE:MTX). Gabelli Funds Limited accumulated 107,000 shares or 0.04% of the stock. Macquarie Ltd last reported 0.05% of its portfolio in the stock. Moreover, Lapides Asset Mgmt has 4.3% invested in Minerals Technologies Inc (NYSE:MTX) for 409,500 shares. Blackrock Advsrs Limited Liability Corp has 16,413 shares for 0% of their US portfolio. Silvercrest Asset Management Group Inc Lc last reported 0.84% of its portfolio in the stock.
Insider Transactions: Since June 20, 2016, the stock had 0 insider buys, and 10 selling transactions for $4.18 million net activity. On Thursday, August 18 the insider MAYGER DOUGLAS W sold $199,925. The insider Carpenter Patrick sold $385,806. The insider MONAGLE DJ III sold 7,929 shares worth $559,153. The insider HONEY RICK sold 6,811 shares worth $360,637. DIETRICH DOUGLAS T also sold $766,861 worth of Minerals Technologies Inc (NYSE:MTX) shares. Another trade for 7,606 shares valued at $538,851 was sold by Hastings Jonathan J. On Monday, November 14 the insider CIPOLLA MICHAEL sold $260,225.
MTX Company Profile
Minerals Technologies Inc. is a resource- and technology firm that develops, produces and markets worldwide a broad range of specialty mineral, mineral and synthetic mineral products and related systems and services. The firm has five reportable divisions: Specialty Minerals, Refractories, Performance Materials, Construction Technologies and Energy Services.
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