Minerals Technologies (NYSE:MTX) Upgraded to Hold at ValuEngine

ValuEngine upgraded shares of Minerals Technologies (NYSE:MTX) from a sell rating to a hold rating in a research note issued to investors on Saturday, ValuEngine reports.

Several other research analysts also recently commented on MTX. TheStreet downgraded shares of Minerals Technologies from a b- rating to a c+ rating in a report on Thursday, May 30th. Zacks Investment Research downgraded shares of Minerals Technologies from a hold rating to a sell rating in a report on Tuesday, July 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. Minerals Technologies has a consensus rating of Hold and an average price target of $65.00.

Shares of Minerals Technologies stock opened at $53.93 on Friday. The company has a fifty day moving average of $49.98 and a 200 day moving average of $55.58. Minerals Technologies has a fifty-two week low of $45.26 and a fifty-two week high of $70.55. The company has a market capitalization of $1.89 billion, a P/E ratio of 11.14, a P/E/G ratio of 3.71 and a beta of 1.86. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.66 and a current ratio of 2.30.

Minerals Technologies (NYSE:MTX) last released its quarterly earnings data on Thursday, August 1st. The basic materials company reported $1.11 EPS for the quarter, beating the consensus estimate of $1.06 by $0.05. Minerals Technologies had a net margin of 8.40% and a return on equity of 11.82%. The business had revenue of $463.80 million during the quarter, compared to the consensus estimate of $458.47 million. During the same quarter in the prior year, the firm earned $1.28 EPS. The business’s revenue was down .2% on a year-over-year basis. Analysts forecast that Minerals Technologies will post 4.26 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Friday, August 23rd were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.37%. The ex-dividend date was Thursday, August 22nd. Minerals Technologies’s dividend payout ratio (DPR) is presently 4.13%.

In other Minerals Technologies news, CEO Douglas T. Dietrich bought 1,500 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were purchased at an average cost of $47.99 per share, for a total transaction of $71,985.00. Following the transaction, the chief executive officer now owns 71,841 shares of the company’s stock, valued at $3,447,649.59. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Thomas J. Meek sold 7,502 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $45.90, for a total transaction of $344,341.80. Following the sale, the senior vice president now owns 65,752 shares in the company, valued at $3,018,016.80. The disclosure for this sale can be found here. 2.50% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. TD Asset Management Inc. raised its position in shares of Minerals Technologies by 1.8% during the 1st quarter. TD Asset Management Inc. now owns 11,587 shares of the basic materials company’s stock valued at $681,000 after buying an additional 200 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of Minerals Technologies by 1.4% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 14,250 shares of the basic materials company’s stock valued at $763,000 after buying an additional 201 shares in the last quarter. M&T Bank Corp raised its position in shares of Minerals Technologies by 2.9% during the 2nd quarter. M&T Bank Corp now owns 8,987 shares of the basic materials company’s stock valued at $481,000 after buying an additional 255 shares in the last quarter. Mason Street Advisors LLC raised its position in shares of Minerals Technologies by 1.4% during the 1st quarter. Mason Street Advisors LLC now owns 18,734 shares of the basic materials company’s stock valued at $1,101,000 after buying an additional 264 shares in the last quarter. Finally, Arizona State Retirement System raised its position in shares of Minerals Technologies by 1.1% during the 2nd quarter. Arizona State Retirement System now owns 25,573 shares of the basic materials company’s stock valued at $1,368,000 after buying an additional 276 shares in the last quarter. Hedge funds and other institutional investors own 94.33% of the company’s stock.

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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