Minerals Technologies Inc. (NYSE:MTX) Receives Average Rating of “Buy” from Analysts

Shares of Minerals Technologies Inc. (NYSE:MTX) have been given an average recommendation of “Buy” by the two brokerages that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a buy recommendation. The average twelve-month price objective among analysts that have covered the stock in the last year is $65.00.

Separately, StockNews.com downgraded shares of Minerals Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th.

Institutional Trading of Minerals Technologies

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Minerals Technologies by 0.7% during the first quarter. Vanguard Group Inc. now owns 3,738,256 shares of the basic materials company’s stock worth $281,416,000 after purchasing an additional 25,056 shares during the period. Dimensional Fund Advisors LP boosted its stake in Minerals Technologies by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,296,727 shares of the basic materials company’s stock valued at $190,996,000 after acquiring an additional 15,563 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of Minerals Technologies by 2.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 528,945 shares of the basic materials company’s stock valued at $43,987,000 after purchasing an additional 14,909 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Minerals Technologies by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 470,476 shares of the basic materials company’s stock worth $33,550,000 after purchasing an additional 11,636 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Minerals Technologies by 0.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 322,706 shares of the basic materials company’s stock worth $26,836,000 after purchasing an additional 2,715 shares during the last quarter. 97.29% of the stock is owned by institutional investors and hedge funds.

Minerals Technologies Price Performance

MTX opened at $74.16 on Tuesday. The company has a quick ratio of 1.72, a current ratio of 2.46 and a debt-to-equity ratio of 0.53. Minerals Technologies has a 52-week low of $48.61 and a 52-week high of $90.29. The company has a 50 day moving average of $76.08 and a two-hundred day moving average of $77.78. The company has a market cap of $2.39 billion, a P/E ratio of 25.66 and a beta of 1.30.

Minerals Technologies (NYSE:MTX) last announced its earnings results on Thursday, July 25th. The basic materials company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.05. The business had revenue of $541.20 million during the quarter, compared to the consensus estimate of $561.60 million. Minerals Technologies had a net margin of 4.05% and a return on equity of 11.46%. The business’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.31 earnings per share. On average, analysts expect that Minerals Technologies will post 6.22 earnings per share for the current year.

Minerals Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 16th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.40 annualized dividend and a yield of 0.54%. Minerals Technologies’s dividend payout ratio is presently 13.84%.

About Minerals Technologies

Minerals Technologies Inc develops, produces, and markets various mineral, mineral-based, and related systems and services. The company operates through two segments, Consumer & Specialties, and Engineered Solutions segments. The Consumer & Specialties segment offers household and personal care products, such as pet litter, personal care, fabric care, edible oil and other fluid purification, animal health, and agricultural products; and specialty additives products, including precipitated calcium carbonate and ground calcium carbonate products that are used in the paper, paperboard, and fiber based packaging industries, as well as automotive, construction, and table and food applications.