Minerals Technologies (NYSE:MTX) Cut to Hold at StockNews.com

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

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

Minerals Technologies Stock Down 3.0 %

Shares of NYSE:MTX opened at $65.13 on Wednesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.98 and a current ratio of 2.84. Minerals Technologies has a 1-year low of $64.30 and a 1-year high of $90.30. The company’s fifty day moving average is $71.92 and its two-hundred day moving average is $75.37. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 12.57 and a beta of 1.28.

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, topping analysts’ consensus estimates of $1.39 by $0.11. Minerals Technologies had a net margin of 7.89% and a return on equity of 11.49%. Equities analysts anticipate that Minerals Technologies will post 6.62 EPS for the current year.

Minerals Technologies Dividend Announcement

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

Hedge Funds Weigh In On Minerals Technologies

Several large investors have recently made changes to their positions in MTX. Thrivent Financial for Lutherans boosted its position in shares of Minerals Technologies by 42.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 64,110 shares of the basic materials company’s stock valued at $4,951,000 after purchasing an additional 19,037 shares in the last quarter. Intech Investment Management LLC acquired a new position in shares of Minerals Technologies in the third quarter worth about $441,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Minerals Technologies by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 552,510 shares of the basic materials company’s stock worth $42,670,000 after buying an additional 7,593 shares during the period. Algert Global LLC boosted its holdings in shares of Minerals Technologies by 8.7% in the third quarter. Algert Global LLC now owns 44,512 shares of the basic materials company’s stock worth $3,438,000 after buying an additional 3,556 shares during the period. Finally, FMR LLC boosted its holdings in shares of Minerals Technologies by 64.2% in the third quarter. FMR LLC now owns 1,234,719 shares of the basic materials company’s stock worth $95,357,000 after buying an additional 482,674 shares during the period. 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.