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

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

Separately, Truist Financial decreased 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 note on Monday, February 10th.

Minerals Technologies Stock Performance

Shares of NYSE MTX opened at $68.26 on Tuesday. The stock’s fifty day simple moving average is $74.45 and its 200 day simple moving average is $76.19. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of 13.18 and a beta of 1.30. 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 52-week low of $67.85 and a 52-week high of $90.29.

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

Minerals Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.64%. The ex-dividend date is Friday, February 14th. Minerals Technologies’s payout ratio is 8.49%.

Institutional Investors Weigh In On Minerals Technologies

Institutional investors have recently bought and sold shares of the business. Smartleaf Asset Management LLC lifted its position in shares of Minerals Technologies by 181.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 506 shares of the basic materials company’s stock worth $38,000 after purchasing an additional 326 shares in the last quarter. Quarry LP increased its stake in Minerals Technologies by 536.5% in the 4th quarter. Quarry LP now owns 732 shares of the basic materials company’s stock valued at $56,000 after buying an additional 617 shares during the period. Blue Trust Inc. lifted its position in 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 buying an additional 798 shares in the last quarter. Venturi Wealth Management LLC acquired a new stake in shares of Minerals Technologies during the 4th quarter valued at $78,000. Finally, KBC Group NV grew its holdings in shares of Minerals Technologies by 43.9% during the 4th quarter. KBC Group NV now owns 1,478 shares of the basic materials company’s stock valued at $113,000 after acquiring an additional 451 shares in the last quarter. 97.29% of the stock is currently owned by institutional investors and hedge funds.

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.