Minerals Technologies (NYSE:MTX) Lowered 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 issued to investors on Tuesday.

Minerals Technologies Stock Down 1.3 %

Shares of NYSE:MTX opened at $71.58 on Tuesday. The company has a market capitalization of $2.31 billion, a P/E ratio of 24.77 and a beta of 1.30. The stock’s fifty day simple moving average is $76.95 and its 200-day simple moving average is $77.76. Minerals Technologies has a 52-week low of $48.61 and a 52-week high of $90.29. The company has a quick ratio of 1.72, a current ratio of 2.46 and a debt-to-equity ratio of 0.53.

Minerals Technologies (NYSE:MTX) last released its earnings results on Thursday, July 25th. The basic materials company reported $1.65 EPS for the quarter, topping the consensus estimate of $1.60 by $0.05. Minerals Technologies had a net margin of 4.05% and a return on equity of 11.46%. The firm had revenue of $541.20 million during the quarter, compared to analysts’ expectations of $561.60 million. During the same period in the previous year, the company earned $1.31 EPS. Minerals Technologies’s revenue for the quarter was down 1.9% on a year-over-year basis. As a group, equities research analysts forecast that Minerals Technologies will post 6.22 earnings per share for the current fiscal year.

Minerals Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 16th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.40 annualized dividend and a dividend yield of 0.56%. Minerals Technologies’s payout ratio is currently 13.84%.

Insider Buying and Selling

In related news, insider Dj Monagle III sold 14,229 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $83.63, for a total transaction of $1,189,971.27. Following the completion of the transaction, the insider now owns 79,731 shares of the company’s stock, valued at $6,667,903.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On Minerals Technologies

Large investors have recently modified their holdings of the company. Truist Financial Corp acquired a new stake in Minerals Technologies during the 2nd quarter worth approximately $274,000. Kimelman & Baird LLC purchased a new stake in Minerals Technologies during the second quarter worth approximately $2,065,000. Quarry LP increased its position in shares of Minerals Technologies by 1,857.4% in the second quarter. Quarry LP now owns 920 shares of the basic materials company’s stock worth $77,000 after acquiring an additional 873 shares in the last quarter. Algert Global LLC raised its stake in shares of Minerals Technologies by 131.8% in the 2nd quarter. Algert Global LLC now owns 40,956 shares of the basic materials company’s stock valued at $3,406,000 after acquiring an additional 23,286 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Minerals Technologies during the 2nd quarter valued at $306,000. 97.29% of the stock is currently owned by hedge funds and other 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.