Minerals Technologies (NYSE:MTX) Downgraded to “Hold” at StockNews.com

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

Minerals Technologies Stock Performance

Shares of MTX stock opened at $76.03 on Thursday. The company’s fifty day moving average price is $74.08 and its two-hundred day moving average price is $77.95. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.46 and a quick ratio of 1.72. The firm has a market capitalization of $2.45 billion, a P/E ratio of 26.31 and a beta of 1.30. Minerals Technologies has a 12 month low of $48.61 and a 12 month high of $90.29.

Minerals Technologies (NYSE:MTX) last issued its quarterly earnings data on Thursday, July 25th. The basic materials company reported $1.65 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.05. Minerals Technologies had a return on equity of 11.46% and a net margin of 4.05%. The firm had revenue of $541.20 million during the quarter, compared to analyst estimates of $561.60 million. During the same quarter last year, the firm earned $1.31 EPS. Minerals Technologies’s quarterly revenue was down 1.9% on a year-over-year basis. On average, research analysts anticipate that Minerals Technologies will post 6.22 earnings per share for the current fiscal year.

Minerals Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 16th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend was Friday, August 16th. Minerals Technologies’s dividend payout ratio is currently 13.84%.

Hedge Funds Weigh In On Minerals Technologies

Several large investors have recently modified their holdings of MTX. Parallel Advisors LLC raised its stake in Minerals Technologies by 97.9% during the fourth quarter. Parallel Advisors LLC now owns 556 shares of the basic materials company’s stock valued at $40,000 after buying an additional 275 shares in the last quarter. Picton Mahoney Asset Management bought a new position in Minerals Technologies during the second quarter worth $52,000. Innealta Capital LLC acquired a new position in Minerals Technologies in the second quarter worth $76,000. Fidelis Capital Partners LLC bought a new stake in Minerals Technologies during the first quarter valued at $77,000. Finally, Quarry LP raised its holdings in shares of Minerals Technologies by 1,857.4% during the second quarter. Quarry LP now owns 920 shares of the basic materials company’s stock worth $77,000 after purchasing an additional 873 shares during the period. Institutional investors own 97.29% of the company’s stock.

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.