Minerals Technologies (NYSE:MTX) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of Minerals Technologies (NYSE:MTX) from a buy rating to a hold rating in a research report sent to investors on Wednesday.

Separately, Truist Financial cut their price objective on shares of Minerals Technologies from $103.00 to $101.00 and set a “buy” rating for the company in a research report on Monday, February 10th.

Minerals Technologies Stock Down 5.2 %

Shares of NYSE:MTX traded down $3.05 during trading on Wednesday, hitting $55.40. 54,471 shares of the company were exchanged, compared to its average volume of 170,371. Minerals Technologies has a fifty-two week low of $52.40 and a fifty-two week high of $90.30. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 10.69 and a beta of 1.25. The company has a current ratio of 2.84, a quick ratio of 1.98 and a debt-to-equity ratio of 0.54. The firm has a fifty day moving average price of $67.23 and a two-hundred day moving average price of $74.11.

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

Minerals Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 14th were given a $0.11 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.79%. Minerals Technologies’s payout ratio is 8.49%.

Institutional Investors Weigh In On Minerals Technologies

Several institutional investors and hedge funds have recently bought and sold shares of MTX. FMR LLC grew its position in Minerals Technologies by 42.7% in the fourth quarter. FMR LLC now owns 1,761,925 shares of the basic materials company’s stock valued at $134,276,000 after acquiring an additional 527,206 shares during the last quarter. Norges Bank bought a new position in Minerals Technologies during the 4th quarter worth $16,360,000. American Century Companies Inc. lifted its stake 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 worth $65,630,000 after acquiring an additional 204,371 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Minerals Technologies in the 4th quarter valued at $10,797,000. Finally, Foundry Partners LLC bought a new stake in Minerals Technologies during the fourth quarter valued at $7,735,000. 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.