Minerals Technologies (NYSE:MTX) Lowered to Hold Rating by StockNews.com

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

Separately, Truist Financial decreased their price objective on 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 2.8 %

Shares of NYSE MTX opened at $53.56 on Wednesday. The firm’s 50-day moving average is $67.98 and its two-hundred day moving average is $74.33. The company has a market capitalization of $1.70 billion, a PE ratio of 10.34 and a beta of 1.25. Minerals Technologies has a 12-month low of $52.40 and a 12-month high of $90.30. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.84 and a quick ratio of 1.98.

Minerals Technologies (NYSE:MTX) last posted its earnings results on Thursday, February 6th. The basic materials company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.11. Minerals Technologies had a return on equity of 11.49% and a net margin of 7.89%. Equities analysts anticipate that Minerals Technologies will post 6.62 EPS for the current fiscal year.

Institutional Trading of Minerals Technologies

A number of hedge funds have recently bought and sold shares of the company. Principal Financial Group Inc. lifted its stake in shares of Minerals Technologies by 2.7% during the 4th quarter. Principal Financial Group Inc. now owns 166,647 shares of the basic materials company’s stock worth $12,700,000 after purchasing an additional 4,356 shares during the period. State Street Corp increased its stake 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 purchasing an additional 32,196 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Minerals Technologies by 9.7% during the third quarter. JPMorgan Chase & Co. now owns 115,887 shares of the basic materials company’s stock worth $8,950,000 after buying an additional 10,284 shares during the period. Franklin Resources Inc. boosted its stake in Minerals Technologies by 21.1% in the 3rd quarter. Franklin Resources Inc. now owns 47,847 shares of the basic materials company’s stock worth $3,728,000 after buying an additional 8,335 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd grew its holdings in Minerals Technologies by 74.4% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 17,264 shares of the basic materials company’s stock valued at $1,316,000 after buying an additional 7,364 shares during the period. Institutional investors and hedge funds 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.