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

StockNews.com cut shares of Minerals Technologies (NYSE:MTX) from a buy rating to a hold rating in a research note published on Tuesday.

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

Minerals Technologies Price Performance

NYSE:MTX opened at $68.26 on Tuesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.84 and a quick ratio of 1.98. The stock has a market cap of $2.18 billion, a P/E ratio of 13.18 and a beta of 1.30. The company has a fifty day moving average price of $74.45 and a 200 day moving average price of $76.19. Minerals Technologies has a one year low of $67.85 and a one year high of $90.29.

Minerals Technologies (NYSE:MTX) last announced its quarterly earnings data on Thursday, February 6th. The basic materials company reported $1.50 earnings per share for the quarter, topping 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%. Analysts anticipate that Minerals Technologies will post 6.62 earnings per share for the current year.

Minerals Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be given a $0.11 dividend. The ex-dividend date is Friday, February 14th. This represents a $0.44 dividend on an annualized basis and a yield of 0.64%. Minerals Technologies’s dividend payout ratio (DPR) is presently 8.49%.

Institutional Trading of Minerals Technologies

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