BlackRock Fund Advisors recently announced the acquisition of new stake in Minerals Technologies Inc. (NYSE:MTX). The institutional investor has increased its shareholding in the Basic Materials company by 44.42% to 4.83 million shares with purchase of 1.49 million shares. This fresh investment now brings its stake to 14.89% valued currently at $293.43 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.34 million to 3.52 million shares. And Dimensional Fund Advisors LP has lifted its position by 4.30% or 89067.0 shares – to 2.16 million shares.
With over 0.13 million Minerals Technologies Inc. (MTX) shares trading Friday and a closing price of $66.07 on the day, the dollar volume was approximately $8.88 million. The shares have shown a positive half year performance of 3.67% and its price on 01/20/23 gained nearly 2.21%. Currently, there are 32.50M common shares owned by the public and among those 32.11M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 4 analysts who have offered their price forecasts for MTX have a consensus price objective of $85.00. The analysts have set the share’s price value over the next 12 months at a high of $90.00 and a low of $80.00. The average price target is 22.27% above its recent price level and an upside to the estimated low will see the stock gain 17.41% over that period. But an upside of 26.59% will see the stock hit the forecast high price target while median target price for the stock is $85.00.
Insiders at the company have transacted a total of 33 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 17 of these insider trades were purchases, accounting for 100,139 shares. Insider sales of the common stock occurred on 16 occasions, with total insider shares sold totaling 84,532 shares.
The top 3 mutual fund holders in Minerals Technologies Inc. are iShares Core S&P Small Cap ETF, Delaware Small Cap Core Fund, and Vanguard Total Stock Market Index. iShares Core S&P Small Cap ETF owns 2.4 million shares of the company’s stock, all valued at over $145.77 million. The company sold 1648.0 shares recently to bring their total holdings to about 7.40% of the shares outstanding. Delaware Small Cap Core Fund bought 10597.0 shares to see its total holdings expand to 1.34 million shares valued at over $81.46 million and representing 4.13% of the shares outstanding. Vanguard Total Stock Market Index bought 6027.0 shares to bring its total holdings to over 0.99 million shares at a value of $59.99 million. Vanguard Total Stock Market Index now owns shares totaling to 3.04% of the shares outstanding.
Shares of Minerals Technologies Inc. (NYSE: MTX) opened at $65.04, up $0.4 from a prior closing price of $64.64. However, the script later moved the day high at 66.17, up 2.21%. The company’s stock has a 5-day price change of -0.57% and 21.45% over the past three months. MTX shares are trading 8.81% year to date (YTD), with the 12-month market performance down to -8.65% lower. It has a 12-month low price of $49.38 and touched a high of $73.13 over the same period. MTX has an average intraday trading volume of 153.00K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 5.45%, 10.11%, and 8.94% respectively.
Institutional ownership of Minerals Technologies Inc. (NYSE: MTX) 32.50M shares outstanding. Mutual fund holders own 4.12%, while other institutional holders and individual stakeholders account for 70.46% and 30.56% respectively.
It has a market capitalization of $2.10B and a beta (3y monthly) value of 1.27. The stock’s trailing 12-month PE ratio is 15.24, while the earnings-per-share (ttm) stands at $4.33. The company has a PEG of 2.72 and a Quick Ratio of 1.50 with the debt-to-equity ratio at 0.71. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.36% over the week and 2.41% over the month.
Analysts forecast that Minerals Technologies Inc. (MTX) will achieve an EPS of $1.29 for the current quarter, $1.4 for the next quarter and $6.04 for 2023. The lowest estimate earnings-per-share for the quarter is $1.21 while analysts give the company a high EPS estimate of $1.37. Comparatively, EPS for the current quarter was $1.25 a year ago. Earnings per share for the fiscal year are expected to increase by 48.00%, and 7.87% over the next financial year. EPS should grow at an annualized rate of 5.60% over the next five years, compared to 5.10% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate Minerals Technologies Inc. (MTX) as a “Moderate Buy” at a consensus score of 2.20. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 2 of the 4 advise that investors “hold,” and 0 rated it as a “Sell.”
JP Morgan was of a view on February 07, 2022 that the stock is Overweight, while JP Morgan gave the stock Neutral rating on December 18, 2020, issuing a price target of $58- $63. Seaport Global Securities on their part issued Buy rating on September 21, 2020.
