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

Minerals Technologies Stock Up 0.3 %

Shares of Minerals Technologies stock opened at $75.49 on Wednesday. The stock’s 50-day moving average is $75.34 and its 200 day moving average is $78.39. Minerals Technologies has a one year low of $55.12 and a one year high of $90.29. The firm has a market cap of $2.41 billion, a price-to-earnings ratio of 15.99 and a beta of 1.31. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.46 and a quick ratio of 1.72.

Minerals Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, October 31st will be paid a $0.11 dividend. The ex-dividend date is Thursday, October 31st. This represents a $0.44 annualized dividend and a dividend yield of 0.58%. This is a positive change from Minerals Technologies’s previous quarterly dividend of $0.10. Minerals Technologies’s payout ratio is currently 9.32%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Picton Mahoney Asset Management acquired a new stake in Minerals Technologies in the second quarter worth $52,000. Blue Trust Inc. boosted its position in shares of Minerals Technologies by 2,418.2% during the 3rd quarter. Blue Trust Inc. now owns 831 shares of the basic materials company’s stock worth $69,000 after purchasing an additional 798 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of Minerals Technologies in the 2nd quarter valued at about $76,000. Fidelis Capital Partners LLC acquired a new stake in shares of Minerals Technologies in the 1st quarter valued at about $77,000. Finally, Quarry LP increased its position in Minerals Technologies by 1,857.4% in the 2nd quarter. Quarry LP now owns 920 shares of the basic materials company’s stock valued at $77,000 after buying an additional 873 shares in the last quarter. 97.29% of the stock is owned by institutional investors.

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.