Minerals Technologies (NYSE:MTX) Downgraded by StockNews.com to Hold

StockNews.com downgraded shares of Minerals Technologies (NYSE:MTX) from a buy rating to a hold rating in a report published on Wednesday.

Separately, Truist Financial dropped their price target on shares of Minerals Technologies from $103.00 to $101.00 and set a “buy” rating on the stock in a research report on Monday, February 10th.

Minerals Technologies Price Performance

NYSE MTX opened at $65.13 on Wednesday. The company has a 50 day simple moving average of $71.92 and a 200-day simple moving average of $75.37. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.84 and a quick ratio of 1.98. The firm has a market capitalization of $2.08 billion, a price-to-earnings ratio of 12.57 and a beta of 1.28. Minerals Technologies has a 52-week low of $64.30 and a 52-week high of $90.30.

Minerals Technologies (NYSE:MTX) last issued its quarterly earnings data on Thursday, February 6th. The basic materials company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.11. Minerals Technologies had a net margin of 7.89% and a return on equity of 11.49%. Equities research analysts predict that Minerals Technologies will post 6.62 earnings per share for the current fiscal year.

Minerals Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 14th were paid a $0.11 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.44 annualized dividend and a dividend yield of 0.68%. Minerals Technologies’s payout ratio is 8.49%.

Institutional Investors Weigh In On Minerals Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC raised its stake in shares of Minerals Technologies by 181.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 506 shares of the basic materials company’s stock valued at $38,000 after acquiring an additional 326 shares during the last quarter. Quarry LP raised its stake in shares of Minerals Technologies by 536.5% in the fourth quarter. Quarry LP now owns 732 shares of the basic materials company’s stock valued at $56,000 after acquiring an additional 617 shares during the last quarter. Blue Trust Inc. raised its position in Minerals Technologies by 21.4% in the 4th quarter. Blue Trust Inc. now owns 1,009 shares of the basic materials company’s stock worth $78,000 after purchasing an additional 178 shares during the last quarter. Venturi Wealth Management LLC bought a new position in Minerals Technologies in the 4th quarter worth approximately $78,000. Finally, KBC Group NV raised its position in Minerals Technologies by 43.9% in the 4th quarter. KBC Group NV now owns 1,478 shares of the basic materials company’s stock worth $113,000 after purchasing an additional 451 shares during the last quarter. Institutional investors and hedge funds own 97.29% of the company’s stock.

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.