Minerals Technologies (NYSE:MTX) Lowered to “Hold” at StockNews.com

Minerals Technologies (NYSE:MTX) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

Minerals Technologies Price Performance

Shares of MTX stock opened at $76.04 on Wednesday. The company has a market capitalization of $2.45 billion, a P/E ratio of 26.31 and a beta of 1.30. The company’s 50-day simple moving average is $75.33 and its two-hundred day simple moving average is $78.34. Minerals Technologies has a one year low of $52.94 and a one year high of $90.29. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.46 and a quick ratio of 1.72.

Institutional Trading of Minerals Technologies

Several institutional investors and hedge funds have recently made changes to their positions in MTX. Assenagon Asset Management S.A. grew its holdings in Minerals Technologies by 78.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 161,440 shares of the basic materials company’s stock worth $12,468,000 after acquiring an additional 71,021 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Minerals Technologies by 10.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 514,036 shares of the basic materials company’s stock valued at $38,697,000 after purchasing an additional 48,378 shares in the last quarter. Acadian Asset Management LLC increased its holdings in Minerals Technologies by 95.4% during the second quarter. Acadian Asset Management LLC now owns 83,051 shares of the basic materials company’s stock valued at $6,901,000 after buying an additional 40,551 shares during the period. Cubist Systematic Strategies LLC raised its stake in Minerals Technologies by 42.4% in the second quarter. Cubist Systematic Strategies LLC now owns 108,026 shares of the basic materials company’s stock worth $8,983,000 after buying an additional 32,178 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in Minerals Technologies by 53.7% in the second quarter. AQR Capital Management LLC now owns 85,355 shares of the basic materials company’s stock worth $7,070,000 after buying an additional 29,818 shares in the last quarter. 97.29% of the stock is currently owned by institutional investors.

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.