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

Minerals Technologies (NYSE:MTX) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

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

Minerals Technologies Price Performance

MTX opened at $69.49 on Tuesday. The company has a 50 day moving average of $74.61 and a two-hundred day moving average of $76.25. Minerals Technologies has a 52-week low of $69.35 and a 52-week high of $90.29. The company has a quick ratio of 1.98, a current ratio of 2.84 and a debt-to-equity ratio of 0.54. The company has a market cap of $2.22 billion, a P/E ratio of 13.42 and a beta of 1.30.

Minerals Technologies (NYSE:MTX) last released its quarterly earnings data on Thursday, February 6th. The basic materials company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.39 by $0.11. Minerals Technologies had a return on equity of 11.49% and a net margin of 7.89%. On average, analysts expect that Minerals Technologies will post 6.62 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC raised its position in shares of Minerals Technologies by 42.7% in the 4th quarter. FMR LLC now owns 1,761,925 shares of the basic materials company’s stock valued at $134,276,000 after purchasing an additional 527,206 shares in the last quarter. State Street Corp raised its holdings in Minerals Technologies by 2.6% in the third quarter. State Street Corp now owns 1,268,792 shares of the basic materials company’s stock valued at $97,989,000 after acquiring an additional 32,196 shares in the last quarter. Geode Capital Management LLC boosted its stake in Minerals Technologies by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 873,123 shares of the basic materials company’s stock valued at $66,554,000 after acquiring an additional 7,780 shares during the last quarter. American Century Companies Inc. grew its holdings in Minerals Technologies by 31.1% during the 4th quarter. American Century Companies Inc. now owns 861,173 shares of the basic materials company’s stock worth $65,630,000 after acquiring an additional 204,371 shares in the last quarter. Finally, Snyder Capital Management L P increased its position in shares of Minerals Technologies by 8.5% in the 4th quarter. Snyder Capital Management L P now owns 630,381 shares of the basic materials company’s stock worth $48,041,000 after purchasing an additional 49,376 shares during the last quarter. Hedge funds and other 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.