Minerals Technologies (MTX) Initiated On Investors Observer Momentum Plays List

Posted: Monday, November 09, 2009 9:21 AM EDT

Minerals Technologies (NYSE: MTX) ended the last trading session at $54.53. So far the stock has hit a 52-week low of $26.11 and 52-week high of $55.18. Minerals Technologies stock has been showing support around 53.35 and resistance in the 55.77 range. Technical indicators for the stock are Bullish and S&P gives MTX a positive 4 STAR (out of 5) buy rating. MTX appears on the Investors Observer Momentum Plays list. For a hedged play on this stock, look at a Feb '10 55 covered call (MTX BK) for a net debit in the $52.23 area. That is also the break even stock price for this trade. This covered call has a 103 day duration, provides 4.22% downside protection and a 5.30% assigned return rate for an 18.79% annualized return rate (comparison purposes only). Minerals Technologies has a current annual dividend yield of 0.39%. [ABR-Seven Summits Research]

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