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

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

Minerals Technologies Trading Down 0.9 %

Shares of NYSE:MTX opened at $73.03 on Tuesday. The business’s 50-day moving average is $76.31 and its 200 day moving average is $77.69. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.46 and a quick ratio of 1.72. Minerals Technologies has a 1 year low of $48.61 and a 1 year high of $90.29. The firm has a market capitalization of $2.36 billion, a P/E ratio of 25.27 and a beta of 1.30.

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

Minerals Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 16th were paid a dividend of $0.10 per share. The ex-dividend date was Friday, August 16th. This represents a $0.40 annualized dividend and a dividend yield of 0.55%. Minerals Technologies’s payout ratio is currently 13.84%.

Insider Activity at Minerals Technologies

In other Minerals Technologies news, insider Dj Monagle III sold 14,229 shares of Minerals Technologies stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $83.63, for a total transaction of $1,189,971.27. Following the completion of the sale, the insider now owns 79,731 shares of the company’s stock, valued at approximately $6,667,903.53. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Minerals Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Minerals Technologies by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 3,738,256 shares of the basic materials company’s stock valued at $281,416,000 after acquiring an additional 25,056 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Minerals Technologies by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,296,727 shares of the basic materials company’s stock valued at $190,996,000 after purchasing an additional 15,563 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Minerals Technologies by 2.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 528,945 shares of the basic materials company’s stock worth $43,987,000 after purchasing an additional 14,909 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Minerals Technologies by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 470,476 shares of the basic materials company’s stock valued at $33,550,000 after buying an additional 11,636 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Minerals Technologies by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 322,706 shares of the basic materials company’s stock worth $26,836,000 after buying an additional 2,715 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.