Minerals Technologies Inc. (MTX) Downgraded by BidaskClub to Strong Sell
BidaskClub cut shares of Minerals Technologies Inc. (NYSE:MTX) from a sell rating to a strong sell rating in a research report report published on Saturday morning.
Other equities research analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of Minerals Technologies from a sell rating to a hold rating in a research report on Saturday, April 1st. J P Morgan Chase & Co upgraded shares of Minerals Technologies from a neutral rating to an overweight rating and set a $80.00 target price for the company in a research report on Friday, March 24th. They noted that the move was a valuation call.
Minerals Technologies (NYSE:MTX) traded down 1.66% during mid-day trading on Friday, hitting $71.25. 399,105 shares of the stock were exchanged. The stock has a market cap of $2.50 billion, a PE ratio of 18.80 and a beta of 2.17. The stock’s 50 day moving average is $74.56 and its 200 day moving average is $76.98. Minerals Technologies has a 52-week low of $51.29 and a 52-week high of $83.85.
Minerals Technologies (NYSE:MTX) last issued its earnings results on Thursday, May 4th. The basic materials company reported $1.07 EPS for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.03. The business had revenue of $405 million during the quarter, compared to analysts’ expectations of $401.63 million. Minerals Technologies had a net margin of 8.21% and a return on equity of 15.44%. The company’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.02 earnings per share. Analysts forecast that Minerals Technologies will post $4.72 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 9th. Stockholders of record on Wednesday, May 31st were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend was Friday, May 26th. Minerals Technologies’s dividend payout ratio (DPR) is 5.28%.
Several large investors have recently modified their holdings of the stock. Northwestern Mutual Investment Management Company LLC boosted its stake in shares of Minerals Technologies by 0.3% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 6,038 shares of the basic materials company’s stock worth $463,000 after buying an additional 17 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Minerals Technologies by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,172 shares of the basic materials company’s stock worth $400,000 after buying an additional 19 shares during the period. 1st Global Advisors Inc. boosted its stake in shares of Minerals Technologies by 1.4% in the first quarter. 1st Global Advisors Inc. now owns 2,936 shares of the basic materials company’s stock worth $225,000 after buying an additional 40 shares during the period. Elkfork Partners LLC boosted its stake in shares of Minerals Technologies by 7.4% in the first quarter. Elkfork Partners LLC now owns 1,606 shares of the basic materials company’s stock worth $123,000 after buying an additional 110 shares during the period. Finally, Retirement Systems of Alabama boosted its stake in shares of Minerals Technologies by 0.3% in the first quarter. Retirement Systems of Alabama now owns 45,234 shares of the basic materials company’s stock worth $3,465,000 after buying an additional 121 shares during the period. Institutional investors and hedge funds own 95.22% of the company’s stock.
Minerals Technologies Company Profile
Minerals Technologies Inc is a resource- and technology-based company that develops, produces and markets a range of specialty mineral, mineral-based and synthetic mineral products and supporting systems and services around the world. It operates through five segments. The Specialty Minerals produces and sells the synthetic mineral product precipitated calcium carbonate (PCC) and processed mineral product quicklime (lime).
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