Minerals Technologies (NYSE:MTX) Stock Rating Lowered by Zacks Investment Research

Minerals Technologies (NYSE:MTX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Friday, Zacks.com reports.

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. “

MTX has been the topic of a number of other research reports. Berenberg Bank reissued a “neutral” rating and issued a $245.00 price target on shares of Minerals Technologies in a research report on Friday, October 25th. HSBC reissued a “neutral” rating and issued a $253.00 price target on shares of Minerals Technologies in a research report on Monday, October 28th. Goldman Sachs Group reaffirmed a “neutral” rating and set a $206.00 target price on shares of Minerals Technologies in a research report on Friday, October 25th. ValuEngine raised shares of Minerals Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, September 14th. Finally, Hauck & Aufhaeuser reaffirmed a “neutral” rating and set a $242.00 target price on shares of Minerals Technologies in a research report on Monday, October 28th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. Minerals Technologies presently has a consensus rating of “Hold” and an average price target of $233.67.

Shares of NYSE:MTX traded up $2.21 during trading on Friday, reaching $56.97. The stock had a trading volume of 736,501 shares, compared to its average volume of 167,360. Minerals Technologies has a 52 week low of $45.26 and a 52 week high of $63.75. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of 11.77, a P/E/G ratio of 3.73 and a beta of 1.81. The company has a quick ratio of 1.62, a current ratio of 2.24 and a debt-to-equity ratio of 0.59. The stock has a fifty day simple moving average of $52.15 and a two-hundred day simple moving average of $53.47.

Minerals Technologies (NYSE:MTX) last released its quarterly earnings results on Thursday, October 31st. The basic materials company reported $1.06 EPS for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.05. Minerals Technologies had a net margin of 8.16% and a return on equity of 11.08%. The company had revenue of $449.30 million for the quarter, compared to analyst estimates of $449.43 million. During the same quarter last year, the firm posted $1.27 earnings per share. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. On average, analysts forecast that Minerals Technologies will post 4.21 EPS for the current year.

In related news, CEO Douglas T. Dietrich bought 1,500 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were acquired at an average price of $47.99 per share, with a total value of $71,985.00. Following the completion of the transaction, the chief executive officer now owns 71,841 shares of the company’s stock, valued at approximately $3,447,649.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Thomas J. Meek sold 7,502 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $45.90, for a total transaction of $344,341.80. Following the transaction, the senior vice president now directly owns 65,752 shares in the company, valued at approximately $3,018,016.80. The disclosure for this sale can be found here. Insiders own 2.50% of the company’s stock.

A number of hedge funds have recently made changes to their positions in MTX. Point72 Hong Kong Ltd bought a new stake in Minerals Technologies in the 2nd quarter valued at $44,000. Quest Capital Management Inc. ADV bought a new stake in Minerals Technologies in the 3rd quarter valued at $74,000. First Mercantile Trust Co. increased its holdings in Minerals Technologies by 11.6% in the 3rd quarter. First Mercantile Trust Co. now owns 2,050 shares of the basic materials company’s stock valued at $109,000 after buying an additional 213 shares during the period. Tower Research Capital LLC TRC increased its holdings in Minerals Technologies by 123.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,933 shares of the basic materials company’s stock valued at $157,000 after buying an additional 1,620 shares during the period. Finally, Wedge Capital Management L L P NC bought a new stake in Minerals Technologies in the 3rd quarter valued at $212,000. 93.99% of the stock is currently owned by institutional investors and hedge funds.

About Minerals Technologies

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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Analyst Recommendations for Minerals Technologies (NYSE:MTX)

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