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

Minerals Technologies (NYSE:MTX) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

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

Minerals Technologies Trading Down 1.4 %

Minerals Technologies stock opened at $67.07 on Wednesday. The company’s fifty day simple moving average is $72.06 and its 200-day simple moving average is $75.46. The company has a quick ratio of 1.98, a current ratio of 2.84 and a debt-to-equity ratio of 0.54. Minerals Technologies has a 12 month low of $65.64 and a 12 month high of $90.30. The stock has a market cap of $2.14 billion, a P/E ratio of 12.95 and a beta of 1.28.

Minerals Technologies (NYSE:MTX) last posted its quarterly earnings results on Thursday, February 6th. The basic materials company reported $1.50 EPS for the quarter, beating the consensus estimate 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, sell-side analysts forecast that Minerals Technologies will post 6.62 EPS for the current fiscal year.

Institutional Investors Weigh In On Minerals Technologies

Several institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC lifted its stake in shares of Minerals Technologies by 42.7% in the 4th quarter. FMR LLC now owns 1,761,925 shares of the basic materials company’s stock valued at $134,276,000 after purchasing an additional 527,206 shares during the last quarter. State Street Corp lifted its stake in shares of Minerals Technologies by 2.6% in the 3rd quarter. State Street Corp now owns 1,268,792 shares of the basic materials company’s stock valued at $97,989,000 after purchasing an additional 32,196 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Minerals Technologies by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 873,123 shares of the basic materials company’s stock valued at $66,554,000 after purchasing an additional 7,780 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Minerals Technologies by 31.1% in the 4th quarter. American Century Companies Inc. now owns 861,173 shares of the basic materials company’s stock valued at $65,630,000 after purchasing an additional 204,371 shares during the last quarter. Finally, Snyder Capital Management L P lifted its position 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.

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.