Minerals Technologies (NYSE:MTX) Stock Rating Upgraded by StockNews.com

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

Separately, Truist Financial decreased their target price 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 Down 2.0 %

NYSE:MTX opened at $62.29 on Tuesday. Minerals Technologies has a 1-year low of $61.60 and a 1-year high of $90.30. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of 12.03 and a beta of 1.28. 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 business’s fifty day moving average price is $70.36 and its 200 day moving average price is $75.02.

Minerals Technologies (NYSE:MTX) last issued its earnings results on Thursday, February 6th. The basic materials company reported $1.50 earnings per share for the quarter, beating 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%. On average, sell-side analysts forecast that Minerals Technologies will post 6.62 earnings per share for the current fiscal year.

Minerals Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 14th were given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.71%. The ex-dividend date was Friday, February 14th. Minerals Technologies’s payout ratio is currently 8.49%.

Institutional Investors Weigh In On Minerals Technologies

Several large investors have recently made changes to their positions in the company. FMR LLC increased its position in Minerals Technologies by 42.7% during the fourth quarter. FMR LLC now owns 1,761,925 shares of the basic materials company’s stock worth $134,276,000 after buying an additional 527,206 shares during the last quarter. State Street Corp boosted its stake in shares of Minerals Technologies by 2.6% during the 3rd quarter. State Street Corp now owns 1,268,792 shares of the basic materials company’s stock worth $97,989,000 after acquiring an additional 32,196 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Minerals Technologies by 0.9% during 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 acquiring an additional 7,780 shares during the last quarter. American Century Companies Inc. raised 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 acquiring an additional 204,371 shares in the last quarter. Finally, Snyder Capital Management L P raised its stake in shares of Minerals Technologies by 8.5% in the 4th quarter. Snyder Capital Management L P now owns 630,381 shares of the basic materials company’s stock valued at $48,041,000 after acquiring an additional 49,376 shares in 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.