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

StockNews.com lowered shares of Minerals Technologies (NYSE:MTX) from a buy rating to a hold rating in a report published on Saturday.

Minerals Technologies Price Performance

Minerals Technologies stock opened at $80.04 on Friday. Minerals Technologies has a 52 week low of $50.30 and a 52 week high of $90.29. The company’s 50 day moving average price is $74.79 and its two-hundred day moving average price is $78.12. The stock has a market cap of $2.58 billion, a P/E ratio of 27.70 and a beta of 1.30. The company has a quick ratio of 1.72, a current ratio of 2.46 and a debt-to-equity ratio of 0.53.

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

Minerals Technologies Increases Dividend

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

Institutional Trading of Minerals Technologies

Several hedge funds have recently added to or reduced their stakes in MTX. Texas Permanent School Fund Corp raised its holdings in shares of Minerals Technologies by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 28,482 shares of the basic materials company’s stock worth $2,144,000 after purchasing an additional 368 shares during the period. Diversified Trust Co raised its stake in shares of Minerals Technologies by 4.0% in the third quarter. Diversified Trust Co now owns 10,933 shares of the basic materials company’s stock valued at $844,000 after buying an additional 419 shares during the period. ProShare Advisors LLC lifted its position in shares of Minerals Technologies by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 6,563 shares of the basic materials company’s stock valued at $494,000 after buying an additional 452 shares during the last quarter. Summit Global Investments grew its stake in shares of Minerals Technologies by 2.6% during the 2nd quarter. Summit Global Investments now owns 18,799 shares of the basic materials company’s stock worth $1,563,000 after acquiring an additional 480 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in Minerals Technologies by 3.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,522 shares of the basic materials company’s stock worth $1,457,000 after acquiring an additional 526 shares during the last quarter. 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.