StockNews.com Downgrades Minerals Technologies (NYSE:MTX) to Hold

Minerals Technologies (NYSE:MTX) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

Separately, Truist Financial reduced their price objective on 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 Trading Down 4.4 %

NYSE MTX opened at $55.86 on Wednesday. Minerals Technologies has a 12 month low of $52.40 and a 12 month high of $90.30. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of 10.78 and a beta of 1.25. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.84 and a quick ratio of 1.98. The firm’s fifty day moving average price is $66.84 and its 200 day moving average price is $73.98.

Minerals Technologies (NYSE:MTX) last issued its quarterly earnings data on Thursday, February 6th. The basic materials company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate 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 expect that Minerals Technologies will post 6.62 earnings per share for the current fiscal year.

Institutional Trading of Minerals Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. increased its holdings in shares of Minerals Technologies by 2.7% in the fourth quarter. Principal Financial Group Inc. now owns 166,647 shares of the basic materials company’s stock valued at $12,700,000 after purchasing an additional 4,356 shares during the period. State Street Corp raised its position in 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 buying an additional 32,196 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Minerals Technologies by 9.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 115,887 shares of the basic materials company’s stock worth $8,950,000 after acquiring an additional 10,284 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Minerals Technologies by 21.1% in the third quarter. Franklin Resources Inc. now owns 47,847 shares of the basic materials company’s stock valued at $3,728,000 after acquiring an additional 8,335 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd increased its stake in shares of Minerals Technologies by 74.4% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 17,264 shares of the basic materials company’s stock worth $1,316,000 after acquiring an additional 7,364 shares during the period. 97.29% of the stock is owned by hedge funds and other institutional investors.

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.