Minerals Technologies (NYSE:MTX) Stock Rating Lowered by StockNews.com

Minerals Technologies (NYSE:MTX) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

Minerals Technologies Price Performance

MTX opened at $72.05 on Tuesday. Minerals Technologies has a 1 year low of $48.61 and a 1 year high of $90.29. The stock has a 50-day moving average price of $76.76 and a 200-day moving average price of $77.72. The firm has a market cap of $2.32 billion, a PE ratio of 24.93 and a beta of 1.30. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.46 and a quick ratio of 1.72.

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

Insider Activity at Minerals Technologies

In other news, insider Dj Monagle III sold 14,229 shares of the firm’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $83.63, for a total transaction of $1,189,971.27. Following the sale, the insider now owns 79,731 shares of the company’s stock, valued at approximately $6,667,903.53. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Minerals Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its holdings in shares of Minerals Technologies by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 470,476 shares of the basic materials company’s stock worth $33,550,000 after acquiring an additional 11,636 shares during the period. Teacher Retirement System of Texas purchased a new stake in shares of Minerals Technologies during the 4th quarter valued at about $612,000. Norges Bank bought a new position in shares of Minerals Technologies in the 4th quarter worth approximately $19,192,000. Trexquant Investment LP boosted its holdings in shares of Minerals Technologies by 84.7% in the fourth quarter. Trexquant Investment LP now owns 16,548 shares of the basic materials company’s stock worth $1,180,000 after buying an additional 7,591 shares during the last quarter. Finally, Quest Partners LLC bought a new stake in Minerals Technologies during the fourth quarter valued at approximately $423,000. 97.29% of the stock is owned by institutional investors.

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.