Minerals Technologies Inc (MTX) is Downgraded by Wedbush to Neutral, Price Target at $62

Minerals Technologies Inc (MTX) was Downgraded by Wedbush to ” Neutral” and the brokerage firm has set the Price Target at $62. Earlier the firm had a rating of “Outperform ” on the company shares. Wedbush advised their investors in a research report released on May 12, 2016.

On the company’s financial health, Minerals Technologies Inc reported $1.02 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on May 5, 2016. Analyst had a consensus of $0.97. The company had revenue of $410.20 million for the quarter, compared to analysts expectations of $418.87 million. The company’s revenue was down -9.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.07 EPS.

Minerals Technologies Inc opened for trading at $58.91 and hit $61.04 on the upside on Tuesday, eventually ending the session at $60.95, with a gain of 3.83% or 2.25 points. The heightened volatility saw the trading volume jump to 1,78,550 shares. Company has a market cap of $2,123 M.

In a different news, on Feb 16, 2016, Michael Cipolla (VICE PRESIDENT) sold 170 shares at $44.46 per share price. According to the SEC, on Feb 11, 2016, Johannes C Schut (Vice President) sold 9,090 shares at $44.72 per share price. On Nov 23, 2015, Douglas W Mayger (Senior Vice President) sold 703 shares at $60.54 per share price, according to the Form-4 filing with the securities and exchange commission.

Minerals Technologies Inc. is a resource-based and technology-based company that develops produces and markets a range of specialty mineral mineral-based and synthetic mineral products and supporting systems and services. The Company operates through five segments: Specialty Minerals which produces and sells the synthetic mineral product precipitated calcium carbonate (PCC) and processed mineral product quicklime (lime); Refractories which produces and markets monolithic and shaped refractory materials and specialty products; Performance Materials which includes the supply of bentonite and bentonite-related products; Construction Technologies which provides products for non-residential construction environmental and infrastructure projects and Energy Services which offers a range of technologies products and services for all phases of oil and gas production refining and storage.

Minerals Technologies Inc

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