Minerals Technologies (NYSE:MTX) Downgraded by StockNews.com

Minerals Technologies (NYSE:MTX) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Thursday.

Minerals Technologies Stock Up 0.1 %

MTX opened at $76.22 on Thursday. The firm has a market cap of $2.46 billion, a P/E ratio of 26.37 and a beta of 1.30. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.72 and a current ratio of 2.46. The business has a 50 day moving average price of $74.43 and a 200 day moving average price of $77.91. Minerals Technologies has a twelve month low of $48.61 and a twelve month high of $90.29.

Minerals Technologies (NYSE:MTX) last announced its earnings results on Thursday, July 25th. The basic materials company reported $1.65 EPS for the quarter, topping the consensus estimate of $1.60 by $0.05. Minerals Technologies had a net margin of 4.05% and a return on equity of 11.46%. The firm had revenue of $541.20 million for the quarter, compared to the consensus estimate of $561.60 million. During the same quarter last year, the firm posted $1.31 EPS. The business’s quarterly revenue was down 1.9% on a year-over-year basis. Research analysts forecast that Minerals Technologies will post 6.22 EPS for the current year.

Institutional Trading of Minerals Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of MTX. Parallel Advisors LLC raised its stake in shares of Minerals Technologies by 97.9% in the fourth quarter. Parallel Advisors LLC now owns 556 shares of the basic materials company’s stock valued at $40,000 after purchasing an additional 275 shares in the last quarter. Picton Mahoney Asset Management bought a new stake in Minerals Technologies in the 2nd quarter valued at $52,000. Innealta Capital LLC acquired a new position in shares of Minerals Technologies in the 2nd quarter valued at $76,000. Quarry LP lifted its holdings in shares of Minerals Technologies by 1,857.4% during the 2nd quarter. Quarry LP now owns 920 shares of the basic materials company’s stock worth $77,000 after acquiring an additional 873 shares during the period. Finally, Fidelis Capital Partners LLC acquired a new stake in shares of Minerals Technologies during the 1st quarter valued at about $77,000. 97.29% of the stock is currently owned by institutional investors and hedge funds.

About Minerals Technologies

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.