Minerals Technologies (NYSE:MTX) Raised to Sell at ValuEngine

ValuEngine upgraded shares of Minerals Technologies (NYSE:MTX) from a strong sell rating to a sell rating in a report released on Friday morning, ValuEngine reports.

MTX has been the topic of several other research reports. JPMorgan Chase & Co. lowered Minerals Technologies from an overweight rating to a neutral rating and set a $65.00 target price on the stock. in a report on Wednesday, May 1st. Zacks Investment Research lowered Minerals Technologies from a hold rating to a sell rating in a report on Tuesday, July 9th. Finally, TheStreet lowered Minerals Technologies from a b- rating to a c+ rating in a report on Thursday, May 30th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $65.00.

Shares of Minerals Technologies stock traded down $2.26 during trading hours on Friday, reaching $50.73. 20,011 shares of the company were exchanged, compared to its average volume of 160,922. Minerals Technologies has a 1 year low of $47.07 and a 1 year high of $80.80. The firm has a fifty day moving average of $53.60. The company has a current ratio of 2.31, a quick ratio of 1.66 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of 10.48, a PEG ratio of 1.73 and a beta of 1.85.

Minerals Technologies (NYSE:MTX) last posted its quarterly earnings data on Thursday, August 1st. The basic materials company reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.05. The business had revenue of $463.80 million for the quarter, compared to analyst estimates of $458.47 million. Minerals Technologies had a return on equity of 12.52% and a net margin of 9.37%. The company’s revenue was down .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.28 earnings per share. As a group, sell-side analysts forecast that Minerals Technologies will post 4.63 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 23rd will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.39%. The ex-dividend date of this dividend is Thursday, August 22nd. Minerals Technologies’s dividend payout ratio (DPR) is presently 4.13%.

Large investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its stake in shares of Minerals Technologies by 8.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,742,260 shares of the basic materials company’s stock worth $89,447,000 after buying an additional 131,643 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Minerals Technologies by 4.8% during the first quarter. Victory Capital Management Inc. now owns 1,192,066 shares of the basic materials company’s stock worth $70,082,000 after buying an additional 54,062 shares during the period. Boston Partners boosted its stake in shares of Minerals Technologies by 1.9% during the first quarter. Boston Partners now owns 708,400 shares of the basic materials company’s stock worth $41,647,000 after buying an additional 13,481 shares during the period. American Century Companies Inc. boosted its stake in shares of Minerals Technologies by 9.0% during the fourth quarter. American Century Companies Inc. now owns 609,707 shares of the basic materials company’s stock worth $31,302,000 after buying an additional 50,437 shares during the period. Finally, Norges Bank acquired a new stake in shares of Minerals Technologies during the fourth quarter worth about $22,597,000. 94.57% of the stock is currently owned by hedge funds and other institutional investors.

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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