Minerals Technologies (NYSE:MTX) Lowered to Hold Rating by StockNews.com

StockNews.com lowered shares of Minerals Technologies (NYSE:MTX) from a buy rating to a hold rating in a report issued on Wednesday.

Separately, Truist Financial lowered 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

Minerals Technologies stock opened at $67.92 on Wednesday. The company has a quick ratio of 1.98, a current ratio of 2.84 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $2.17 billion, a PE ratio of 13.11 and a beta of 1.28. The firm has a fifty day simple moving average of $72.19 and a two-hundred day simple moving average of $75.52. Minerals Technologies has a twelve month low of $65.64 and a twelve month high of $90.30.

Minerals Technologies (NYSE:MTX) last posted its quarterly earnings results on Thursday, February 6th. The basic materials company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.11. Minerals Technologies had a net margin of 7.89% and a return on equity of 11.49%. Research analysts expect that Minerals Technologies will post 6.62 EPS for the current year.

Minerals Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 14th were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.65%. The ex-dividend date was Friday, February 14th. Minerals Technologies’s dividend payout ratio (DPR) is 8.49%.

Hedge Funds Weigh In On Minerals Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Jefferies Financial Group Inc. purchased a new position in shares of Minerals Technologies during the fourth quarter valued at about $3,078,000. Mackenzie Financial Corp purchased a new position in shares of Minerals Technologies during the fourth quarter valued at about $298,000. PharVision Advisers LLC purchased a new position in shares of Minerals Technologies during the fourth quarter valued at about $236,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Minerals Technologies by 17.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 100,681 shares of the basic materials company’s stock valued at $7,673,000 after buying an additional 14,820 shares during the period. Finally, Two Sigma Advisers LP increased its position in shares of Minerals Technologies by 6.7% during the fourth quarter. Two Sigma Advisers LP now owns 30,300 shares of the basic materials company’s stock valued at $2,309,000 after buying an additional 1,900 shares during the period. Hedge funds and other 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.