StockNews.com Lowers Minerals Technologies (NYSE:MTX) to Hold

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

Minerals Technologies Stock Down 1.3 %

Shares of NYSE MTX traded down $0.95 during midday trading on Tuesday, reaching $71.58. The company’s stock had a trading volume of 184,881 shares, compared to its average volume of 162,007. Minerals Technologies has a fifty-two week low of $48.61 and a fifty-two week high of $90.29. The company has a current ratio of 2.46, a quick ratio of 1.72 and a debt-to-equity ratio of 0.53. The stock has a 50 day simple moving average of $76.95 and a 200-day simple moving average of $77.76. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of 24.77 and a beta of 1.30.

Minerals Technologies (NYSE:MTX) last released its earnings results on Thursday, July 25th. The basic materials company reported $1.65 earnings per share for the quarter, beating 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 business had revenue of $541.20 million during the quarter, compared to analysts’ expectations of $561.60 million. During the same period last year, the business earned $1.31 earnings per share. The firm’s revenue was down 1.9% on a year-over-year basis. Equities research analysts predict that Minerals Technologies will post 6.22 earnings per share for the current year.

Insiders Place Their Bets

In other Minerals Technologies news, insider Dj Monagle III sold 14,229 shares of Minerals Technologies stock in a transaction on 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 completion of the transaction, the insider now directly owns 79,731 shares of the company’s stock, valued at $6,667,903.53. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On Minerals Technologies

Institutional investors have recently modified their holdings of the business. US Bancorp DE raised its stake in Minerals Technologies by 1.6% in the fourth quarter. US Bancorp DE now owns 12,457 shares of the basic materials company’s stock valued at $888,000 after purchasing an additional 196 shares in the last quarter. Parallel Advisors LLC raised its stake in 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. Texas Permanent School Fund Corp raised its stake in Minerals Technologies by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 28,482 shares of the basic materials company’s stock valued at $2,144,000 after purchasing an additional 368 shares in the last quarter. ProShare Advisors LLC raised its stake in Minerals Technologies by 7.4% in the first quarter. ProShare Advisors LLC now owns 6,563 shares of the basic materials company’s stock valued at $494,000 after purchasing an additional 452 shares in the last quarter. Finally, Summit Global Investments raised its stake in Minerals Technologies by 2.6% in the second quarter. Summit Global Investments now owns 18,799 shares of the basic materials company’s stock valued at $1,563,000 after purchasing an additional 480 shares in the last quarter. Institutional investors own 97.29% of the company’s stock.

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.