Minerals Technologies Inc. (NYSE:MTX) Given Consensus Recommendation of “Buy” by Brokerages

Minerals Technologies Inc. (NYSE:MTX) has received an average recommendation of “Buy” from the two brokerages that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a buy rating. The average twelve-month target price among brokers that have covered the stock in the last year is $103.00.

Several brokerages have recently weighed in on MTX. StockNews.com downgraded shares of Minerals Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Truist Financial started coverage on Minerals Technologies in a research report on Tuesday, January 28th. They set a “buy” rating and a $103.00 price objective for the company.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. New York State Common Retirement Fund boosted its holdings in Minerals Technologies by 12.9% in the 4th quarter. New York State Common Retirement Fund now owns 11,381 shares of the basic materials company’s stock valued at $867,000 after purchasing an additional 1,300 shares in the last quarter. Venturi Wealth Management LLC acquired a new stake in shares of Minerals Technologies in the 4th quarter valued at approximately $78,000. CIBC Asset Management Inc purchased a new stake in shares of Minerals Technologies in the fourth quarter valued at approximately $242,000. Principal Financial Group Inc. grew its holdings in Minerals Technologies by 2.7% during the fourth quarter. Principal Financial Group Inc. now owns 166,647 shares of the basic materials company’s stock worth $12,700,000 after acquiring an additional 4,356 shares during the period. Finally, Rhumbline Advisers raised its position in Minerals Technologies by 1.9% in the fourth quarter. Rhumbline Advisers now owns 99,525 shares of the basic materials company’s stock worth $7,585,000 after acquiring an additional 1,877 shares in the last quarter. 97.29% of the stock is owned by hedge funds and other institutional investors.

Minerals Technologies Stock Down 0.6 %

Shares of NYSE:MTX opened at $76.78 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.46 and a quick ratio of 1.72. The stock has a market cap of $2.45 billion, a P/E ratio of 16.27 and a beta of 1.31. Minerals Technologies has a 1-year low of $64.91 and a 1-year high of $90.29. The firm has a fifty day moving average price of $77.49 and a 200 day moving average price of $77.10.

Minerals Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend is Friday, February 14th. Minerals Technologies’s payout ratio is 9.32%.

Minerals Technologies Company Profile

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.