StockNews.com Upgrades Minerals Technologies (NYSE:MTX) to “Buy”

Minerals Technologies (NYSE:MTX) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

Minerals Technologies Stock Up 2.4 %

MTX stock opened at $76.98 on Friday. The business’s 50-day moving average is $73.96 and its two-hundred day moving average is $77.97. The company has a market cap of $2.48 billion, a price-to-earnings ratio of 28.72 and a beta of 1.30. Minerals Technologies has a fifty-two week low of $48.61 and a fifty-two week high of $90.29. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.72 and a current ratio of 2.46.

Minerals Technologies (NYSE:MTX) last posted its quarterly earnings data on Thursday, July 25th. The basic materials company reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.05. Minerals Technologies had a net margin of 4.05% and a return on equity of 11.46%. The company had revenue of $541.20 million for the quarter, compared to the consensus estimate of $561.60 million. During the same quarter last year, the firm posted $1.31 earnings per share. The firm’s revenue was down 1.9% compared to the same quarter last year. As a group, analysts forecast that Minerals Technologies will post 6.22 earnings per share for the current year.

Institutional Trading of Minerals Technologies

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of Minerals Technologies by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 3,738,256 shares of the basic materials company’s stock valued at $281,416,000 after buying an additional 25,056 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Minerals Technologies by 0.7% during 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 purchasing an additional 15,563 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in 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 in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Minerals Technologies by 0.8% in the second 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 in the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of Minerals Technologies by 9.1% during the 4th quarter. Wellington Management Group LLP now owns 273,941 shares of the basic materials company’s stock valued at $19,535,000 after buying an additional 22,857 shares in the last quarter. Institutional investors 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.