Minerals Technologies (NYSE:MTX) Rating Lowered 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 Saturday morning.

Minerals Technologies Trading Down 0.7 %

Shares of Minerals Technologies stock opened at $80.04 on Friday. The company’s 50-day moving average price is $74.79 and its 200-day moving average price is $78.12. The company has a current ratio of 2.46, a quick ratio of 1.72 and a debt-to-equity ratio of 0.53. Minerals Technologies has a 12-month low of $50.30 and a 12-month high of $90.29. The company has a market cap of $2.58 billion, a price-to-earnings ratio of 27.70 and a beta of 1.30.

Minerals Technologies (NYSE:MTX) last posted its earnings results on Thursday, July 25th. The basic materials company reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.05. The business had revenue of $541.20 million for the quarter, compared to analysts’ expectations of $561.60 million. Minerals Technologies had a net margin of 4.05% and a return on equity of 11.46%. The business’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.31 EPS. On average, equities analysts expect that Minerals Technologies will post 6.22 earnings per share for the current fiscal year.

Minerals Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, October 31st will be given a $0.11 dividend. The ex-dividend date is Thursday, October 31st. This is a positive change from Minerals Technologies’s previous quarterly dividend of $0.10. This represents a $0.44 annualized dividend and a yield of 0.55%. Minerals Technologies’s payout ratio is 13.84%.

Institutional Investors Weigh In On Minerals Technologies

A number of institutional investors have recently made changes to their positions in MTX. Picton Mahoney Asset Management purchased a new position in shares of Minerals Technologies in the second quarter worth $52,000. Blue Trust Inc. raised its stake in shares of Minerals Technologies by 2,418.2% during the third quarter. Blue Trust Inc. now owns 831 shares of the basic materials company’s stock valued at $69,000 after acquiring an additional 798 shares during the last quarter. Innealta Capital LLC purchased a new stake in shares of Minerals Technologies during the second quarter worth about $76,000. Quarry LP increased its holdings in Minerals Technologies by 1,857.4% during the 2nd quarter. Quarry LP now owns 920 shares of the basic materials company’s stock valued at $77,000 after purchasing an additional 873 shares during the period. Finally, Fidelis Capital Partners LLC bought a new position in Minerals Technologies during the 1st quarter valued at approximately $77,000. Hedge funds and other 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.