Zacks Investment Research Lowers Minerals Technologies (NYSE:MTX) to Hold

Zacks Investment Research cut shares of Minerals Technologies (NYSE:MTX) from a buy rating to a hold rating in a report released on Tuesday, 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 opened at $72.73 on Tuesday. The stock has a fifty day simple moving average of $77.68 and a two-hundred day simple moving average of $78.88. The company has a current ratio of 3.69, a quick ratio of 2.80 and a debt-to-equity ratio of 0.61. The company has a market cap of $2.44 billion, a price-to-earnings ratio of 17.57 and a beta of 1.45. Minerals Technologies has a 12-month low of $46.49 and a 12-month high of $88.62.

Minerals Technologies (NYSE:MTX) last posted its quarterly earnings data on Thursday, July 29th. The basic materials company reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.04. Minerals Technologies had a return on equity of 10.12% and a net margin of 8.17%. On average, analysts predict that Minerals Technologies will post 5 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 9th. Shareholders of record on Friday, August 20th were issued a $0.05 dividend. The ex-dividend date of this dividend was Thursday, August 19th. This represents a $0.20 dividend on an annualized basis and a yield of 0.27%. Minerals Technologies’s dividend payout ratio (DPR) is 5.01%.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Lazard Asset Management LLC purchased a new stake in shares of Minerals Technologies in the first quarter worth $35,000. Captrust Financial Advisors grew its stake in shares of Minerals Technologies by 661.5% in the first quarter. Captrust Financial Advisors now owns 495 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 430 shares during the last quarter. O Shaughnessy Asset Management LLC grew its stake in shares of Minerals Technologies by 19.6% in the first quarter. O Shaughnessy Asset Management LLC now owns 1,103 shares of the basic materials company’s stock worth $83,000 after acquiring an additional 181 shares during the last quarter. Advisor Group Holdings Inc. grew its stake in shares of Minerals Technologies by 21.4% in the second quarter. Advisor Group Holdings Inc. now owns 1,616 shares of the basic materials company’s stock worth $128,000 after acquiring an additional 285 shares during the last quarter. Finally, USA Financial Portformulas Corp purchased a new stake in shares of Minerals Technologies in the second quarter worth $158,000. Institutional investors and hedge funds own 96.34% of the company’s stock.

Minerals Technologies Company Profile

Minerals Technologies, Inc is a resource and technology-based company. It develops, produces, and markets a range of mineral, mineral-based, and synthetic mineral products. It operates through the following four segments: Performance Materials, Specialty Minerals, Refractories and Energy Services. The Performance Materials segment supplies bentonite and bentonite-related products, chromite and leonardite.

Featured Article: What factors cause inflation to rise?

Get a free copy of the Zacks research report on Minerals Technologies (MTX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Minerals Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Minerals Technologies and related companies with MarketBeat.com's FREE daily email newsletter.