The stock of Minerals Technologies Inc (NYSE:MTX) hit a new 52-week high and has $81.63 target or 3.00% above today’s $79.25 share price. The 9 months bullish chart indicates low risk for the $2.81B company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $81.63 price target is reached, the company will be worth $84.30M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 96,352 shares traded hands. Minerals Technologies Inc (NYSE:MTX) has risen 34.89% since April 28, 2016 and is uptrending. It has outperformed by 28.96% the S&P500.
Analysts await Minerals Technologies Inc (NYSE:MTX) to report earnings on February, 2. They expect $1.07 earnings per share, up 7.00% or $0.07 from last year’s $1 per share. MTX’s profit will be $37.94M for 18.52 P/E if the $1.07 EPS becomes a reality. After $1.17 actual earnings per share reported by Minerals Technologies Inc for the previous quarter, Wall Street now forecasts -8.55% negative EPS growth.
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 stock of Minerals Technologies Inc (NYSE:MTX) has “Outperform” rating given on Monday, August 31 by Wedbush. As per Thursday, May 12, the company rating was downgraded by Wedbush. The rating was upgraded by KeyBanc Capital Markets on Tuesday, October 13 to “Overweight”. Wedbush maintained it with “Outperform” rating and $66 target price in Tuesday, December 29 report. 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 2016 Q2. 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.
Moreover, State Street has 0.01% invested in Minerals Technologies Inc (NYSE:MTX) for 1.12M shares. Envestnet Asset Inc accumulated 0% or 3,325 shares. The New York-based First Manhattan Com has invested 0.16% in Minerals Technologies Inc (NYSE:MTX). Bridgeway Cap, a Texas-based fund reported 15,000 shares. Assetmark holds 138 shares or 0% of its portfolio. Blackrock Inc has 17,886 shares for 0% of their US portfolio. Credit Agricole S A last reported 56,794 shares in the company. Bnp Paribas Arbitrage Sa accumulated 0% or 15,602 shares. Gabelli Funds Ltd Llc holds 107,000 shares or 0.04% of its portfolio. Bessemer Grp Incorporated Incorporated has 0% invested in the company for 2,027 shares. Texas Yale owns 16,124 shares or 0.09% of their US portfolio. Everett Harris & Ca holds 0.01% or 6,400 shares in its portfolio. Moreover, Silvercrest Asset Grp Ltd Liability Corp has 0.84% invested in Minerals Technologies Inc (NYSE:MTX) for 1.17M shares. Jpmorgan Chase And last reported 0.01% of its portfolio in the stock. Moreover, Zurcher Kantonalbank (Zurich Cantonalbank) has 0% invested in Minerals Technologies Inc (NYSE:MTX) for 770 shares.
Insider Transactions: Since June 20, 2016, the stock had 0 insider buys, and 10 insider sales for $4.18 million net activity. Shares for $360,637 were sold by HONEY RICK. Another trade for 2,825 shares valued at $199,925 was sold by MAYGER DOUGLAS W. 3,648 Minerals Technologies Inc (NYSE:MTX) shares with value of $258,169 were sold by Carpenter Patrick. Another trade for 3,500 shares valued at $260,225 was made by CIPOLLA MICHAEL on Monday, November 14. $538,851 worth of shares were sold by Hastings Jonathan J on Tuesday, August 30. DIETRICH DOUGLAS T had sold 11,080 shares worth $766,861. 7,929 Minerals Technologies Inc (NYSE:MTX) shares with value of $559,153 were sold by MONAGLE DJ III.
Another recent and important Minerals Technologies Inc (NYSE:MTX) news was published by Nasdaq.com which published an article titled: “Minerals Technologies Inc. (MTX) Ex-Dividend Date Scheduled for November 23, 2016” on November 22, 2016.
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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