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

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

Minerals Technologies Trading Up 1.4 %

MTX stock opened at $76.00 on Thursday. Minerals Technologies has a 1-year low of $48.61 and a 1-year high of $90.29. The firm has a market cap of $2.45 billion, a P/E ratio of 26.30 and a beta of 1.30. The business’s 50 day moving average is $74.08 and its 200-day moving average is $77.92. The company has a current ratio of 2.46, a quick ratio of 1.72 and a debt-to-equity ratio of 0.53.

Minerals Technologies (NYSE:MTX) last released its quarterly earnings data on Thursday, July 25th. The basic materials company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.05. Minerals Technologies had a return on equity of 11.46% and a net margin of 4.05%. The company had revenue of $541.20 million for the quarter, compared to analyst estimates of $561.60 million. During the same period in the prior year, the company posted $1.31 EPS. The company’s revenue was down 1.9% compared to the same quarter last year. Equities analysts anticipate that Minerals Technologies will post 6.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Parallel Advisors LLC boosted its holdings in shares of Minerals Technologies by 97.9% in the 4th quarter. Parallel Advisors LLC now owns 556 shares of the basic materials company’s stock worth $40,000 after acquiring an additional 275 shares in the last quarter. Texas Permanent School Fund Corp lifted its holdings in Minerals Technologies by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 28,482 shares of the basic materials company’s stock worth $2,144,000 after buying an additional 368 shares in the last quarter. ProShare Advisors LLC lifted its holdings in Minerals Technologies by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 6,563 shares of the basic materials company’s stock worth $494,000 after buying an additional 452 shares in the last quarter. Summit Global Investments lifted its holdings in Minerals Technologies by 2.6% during the 2nd quarter. Summit Global Investments now owns 18,799 shares of the basic materials company’s stock worth $1,563,000 after buying an additional 480 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Minerals Technologies by 3.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,522 shares of the basic materials company’s stock worth $1,457,000 after buying an additional 526 shares in the last quarter. 97.29% of the stock is owned by institutional investors and hedge funds.

Minerals Technologies Company Profile

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.