Minerals Technologies (MTX) Upgraded to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Minerals Technologies (NYSE:MTX) from a sell rating to a hold rating in a report released on Saturday.

According to Zacks, “Minerals Technologies Inc. is a resource- and technology-based company that develops, produces and markets worldwide a broad range of specialty mineral, mineral-based and synthetic mineral products and related systems and services. The Company has five reportable segments: Specialty Minerals, Refractories, Performance Materials, Construction Technologies and Energy Services. “

Separately, ValuEngine cut shares of Minerals Technologies from a hold rating to a sell rating in a report on Wednesday, August 8th.

MTX opened at $67.95 on Friday. Minerals Technologies has a twelve month low of $64.45 and a twelve month high of $80.80. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.08 and a quick ratio of 1.53. The stock has a market cap of $2.33 billion, a P/E ratio of 14.20, a PEG ratio of 1.65 and a beta of 2.19.

Minerals Technologies (NYSE:MTX) last posted its quarterly earnings data on Thursday, August 2nd. The basic materials company reported $1.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.26 by $0.02. The business had revenue of $464.70 million during the quarter, compared to analysts’ expectations of $442.45 million. Minerals Technologies had a net margin of 11.50% and a return on equity of 13.02%. Minerals Technologies’s revenue was up 12.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.23 earnings per share. analysts anticipate that Minerals Technologies will post 4.89 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, September 6th. Stockholders of record on Friday, August 24th were issued a $0.05 dividend. The ex-dividend date was Thursday, August 23rd. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.29%. Minerals Technologies’s dividend payout ratio (DPR) is currently 4.36%.

In related news, Director Franklin Feder bought 450 shares of the company’s stock in a transaction dated Thursday, June 28th. The stock was purchased at an average price of $75.10 per share, with a total value of $33,795.00. Following the completion of the acquisition, the director now owns 450 shares of the company’s stock, valued at $33,795. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director John J. Carmola bought 800 shares of the company’s stock in a transaction dated Wednesday, August 8th. The stock was bought at an average cost of $68.00 per share, with a total value of $54,400.00. Following the acquisition, the director now directly owns 1,200 shares of the company’s stock, valued at approximately $81,600. The disclosure for this purchase can be found here. 2.40% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its holdings in shares of Minerals Technologies by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 441,447 shares of the basic materials company’s stock worth $33,264,000 after acquiring an additional 3,693 shares during the last quarter. Global X Management Co LLC raised its holdings in Minerals Technologies by 18.7% in the 2nd quarter. Global X Management Co LLC now owns 8,612 shares of the basic materials company’s stock valued at $649,000 after buying an additional 1,359 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in Minerals Technologies by 1,911.0% in the 2nd quarter. Advisors Asset Management Inc. now owns 92,849 shares of the basic materials company’s stock valued at $286,000 after buying an additional 88,232 shares during the last quarter. California Public Employees Retirement System raised its holdings in Minerals Technologies by 23.3% in the 2nd quarter. California Public Employees Retirement System now owns 101,565 shares of the basic materials company’s stock valued at $7,653,000 after buying an additional 19,176 shares during the last quarter. Finally, HPM Partners LLC bought a new position in Minerals Technologies in the 2nd quarter valued at approximately $245,000. 94.25% of the stock is owned by hedge funds and other institutional investors.

Minerals Technologies Company Profile

Minerals Technologies Inc develops, produces, and markets various specialty mineral, mineral-based, and synthetic mineral products, and supporting systems and services worldwide. The company's Specialty Minerals segment produces and sells precipitated calcium carbonate and quicklime; and provides natural mineral products comprising limestone and talc.

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