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

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

Minerals Technologies Stock Performance

NYSE MTX opened at $76.03 on Thursday. The business’s 50-day moving average price is $74.08 and its 200 day moving average price is $77.95. 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 twelve month low of $48.61 and a twelve month high of $90.29. The company has a market capitalization of $2.45 billion, a PE ratio of 26.31 and a beta of 1.30.

Minerals Technologies (NYSE:MTX) last released 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 company’s quarterly revenue was down 1.9% on a year-over-year basis. During the same period last year, the company earned $1.31 earnings per share. On average, research analysts predict that Minerals Technologies will post 6.22 earnings per share for the current year.

Minerals Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 16th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date was Friday, August 16th. Minerals Technologies’s dividend payout ratio (DPR) is presently 13.84%.

Hedge Funds Weigh In On Minerals Technologies

Hedge funds and other institutional investors have recently modified their holdings of the company. Parallel Advisors LLC increased its position in Minerals Technologies by 97.9% during the 4th quarter. Parallel Advisors LLC now owns 556 shares of the basic materials company’s stock worth $40,000 after purchasing an additional 275 shares in the last quarter. Wellington Management Group LLP lifted its holdings 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 acquiring an additional 22,857 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in Minerals Technologies by 10.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 514,036 shares of the basic materials company’s stock worth $38,697,000 after purchasing an additional 48,378 shares during the period. BNP Paribas Financial Markets increased its holdings in Minerals Technologies by 27.6% in the 1st quarter. BNP Paribas Financial Markets now owns 44,236 shares of the basic materials company’s stock valued at $3,330,000 after purchasing an additional 9,580 shares in the last quarter. Finally, Capstone Investment Advisors LLC purchased a new position in Minerals Technologies in the first quarter valued at about $223,000. 97.29% of the stock is owned by institutional investors and hedge funds.

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.