Minerals Technologies (NYSE:MTX) Upgraded at StockNews.com

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

Separately, Truist Financial cut their price target on Minerals Technologies from $103.00 to $101.00 and set a “buy” rating for the company in a research note on Monday, February 10th.

Minerals Technologies Price Performance

MTX opened at $58.66 on Tuesday. The company’s 50-day simple moving average is $69.76 and its two-hundred day simple moving average is $74.82. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.98 and a current ratio of 2.84. The stock has a market capitalization of $1.87 billion, a P/E ratio of 11.32 and a beta of 1.25. Minerals Technologies has a 52-week low of $58.54 and a 52-week high of $90.30.

Minerals Technologies (NYSE:MTX) last released 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%. As a group, analysts predict that Minerals Technologies will post 6.62 EPS for the current year.

Minerals Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 14th were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend was Friday, February 14th. Minerals Technologies’s dividend payout ratio is presently 8.49%.

Institutional Investors Weigh In On Minerals Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC raised its stake in Minerals Technologies by 42.7% during the 4th quarter. FMR LLC now owns 1,761,925 shares of the basic materials company’s stock worth $134,276,000 after acquiring an additional 527,206 shares during the period. Norges Bank purchased a new stake in shares of Minerals Technologies in the fourth quarter worth $16,360,000. American Century Companies Inc. raised its position in shares of Minerals Technologies by 31.1% during the 4th quarter. American Century Companies Inc. now owns 861,173 shares of the basic materials company’s stock valued at $65,630,000 after purchasing an additional 204,371 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Minerals Technologies during the 4th quarter valued at $10,797,000. Finally, Foundry Partners LLC bought a new position in Minerals Technologies in the 4th quarter worth $7,735,000. 97.29% of the stock is currently owned by hedge funds and other institutional investors.

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.