Minerals Technologies (NYSE:MTX) Downgraded by StockNews.com

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

Minerals Technologies Price Performance

Shares of NYSE:MTX opened at $77.17 on Friday. The firm has a market capitalization of $2.49 billion, a PE ratio of 26.70 and a beta of 1.30. The company has a current ratio of 2.46, a quick ratio of 1.72 and a debt-to-equity ratio of 0.53. Minerals Technologies has a 1-year low of $50.30 and a 1-year high of $90.29. The business’s 50 day moving average is $75.02 and its 200-day moving average is $78.19.

Minerals Technologies (NYSE:MTX) last posted its quarterly earnings results on Thursday, July 25th. The basic materials company reported $1.65 earnings per share for the quarter, topping analysts’ consensus estimates 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 business’s revenue was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.31 earnings per share. Sell-side analysts predict that Minerals Technologies will post 6.22 earnings per share for the current year.

Minerals Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, October 31st will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.57%. This is an increase from Minerals Technologies’s previous quarterly dividend of $0.10. The ex-dividend date is Thursday, October 31st. Minerals Technologies’s payout ratio is presently 15.22%.

Hedge Funds Weigh In On Minerals Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Picton Mahoney Asset Management acquired a new position in Minerals Technologies during the second quarter worth $52,000. Blue Trust Inc. boosted its holdings in shares of Minerals Technologies by 2,418.2% in the 3rd quarter. Blue Trust Inc. now owns 831 shares of the basic materials company’s stock worth $69,000 after acquiring an additional 798 shares in the last quarter. Innealta Capital LLC bought a new stake in Minerals Technologies during the 2nd quarter worth approximately $76,000. Fidelis Capital Partners LLC acquired a new position in Minerals Technologies in the first quarter worth $77,000. Finally, Quarry LP grew its holdings in shares of Minerals Technologies by 1,857.4% during the second quarter. Quarry LP now owns 920 shares of the basic materials company’s stock worth $77,000 after purchasing an additional 873 shares during the last quarter. Institutional investors 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.