Minerals Technologies (NYSE:MTX) Lowered to “Sell” at Zacks Investment Research

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Zacks Investment Research lowered shares of Minerals Technologies (NYSE:MTX) from a hold rating to a sell rating in a research report report published on Friday, Zacks.com reports.

According to Zacks, “Minerals Technologies Inc. is a resource- and technology-based company that develops, produces and markets worldwide a broad range of specialty mineral, mineral-based and synthetic mineral products and related systems and services. The Company has five reportable segments: Specialty Minerals, Refractories, Performance Materials, Construction Technologies and Energy Services. “

A number of other research analysts have also recently commented on the stock. JPMorgan Chase & Co. restated a buy rating and set a $260.00 price target on shares of Minerals Technologies in a research note on Friday, October 25th. Nord/LB restated a neutral rating and set a $255.00 price target on shares of Minerals Technologies in a research note on Tuesday, October 29th. Hauck & Aufhaeuser restated a neutral rating and set a $242.00 price target on shares of Minerals Technologies in a research note on Monday, October 28th. ValuEngine upgraded shares of Minerals Technologies from a sell rating to a hold rating in a research note on Saturday, September 14th. Finally, Morgan Stanley restated a sell rating and set a $165.00 price target on shares of Minerals Technologies in a research note on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. Minerals Technologies has a consensus rating of Hold and a consensus price target of $233.67.

MTX stock traded up $2.21 during trading on Friday, reaching $56.97. 736,501 shares of the stock were exchanged, compared to its average volume of 167,360. Minerals Technologies has a twelve month low of $45.26 and a twelve month high of $63.75. The company has a market capitalization of $1.92 billion, a P/E ratio of 11.77, a price-to-earnings-growth ratio of 3.73 and a beta of 1.81. The stock has a 50 day simple moving average of $52.15 and a 200-day simple moving average of $53.47. The company has a current ratio of 2.24, a quick ratio of 1.62 and a debt-to-equity ratio of 0.59.

Minerals Technologies (NYSE:MTX) last released its earnings results on Thursday, October 31st. The basic materials company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.05. The business had revenue of $449.30 million for the quarter, compared to the consensus estimate of $449.43 million. Minerals Technologies had a return on equity of 11.08% and a net margin of 8.16%. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period last year, the business earned $1.27 earnings per share. Equities analysts predict that Minerals Technologies will post 4.21 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Monday, November 4th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend is Friday, November 1st. Minerals Technologies’s dividend payout ratio is 4.13%.

In other news, CEO Douglas T. Dietrich bought 1,500 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was bought at an average price of $47.99 per share, for a total transaction of $71,985.00. Following the completion of the purchase, the chief executive officer now owns 71,841 shares of the company’s stock, valued at approximately $3,447,649.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Thomas J. Meek sold 7,502 shares of Minerals Technologies stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $45.90, for a total transaction of $344,341.80. Following the completion of the transaction, the senior vice president now owns 65,752 shares of the company’s stock, valued at approximately $3,018,016.80. The disclosure for this sale can be found here. Insiders own 2.50% of the company’s stock.

Several large investors have recently bought and sold shares of MTX. FMR LLC raised its stake in shares of Minerals Technologies by 426,500.0% in the first quarter. FMR LLC now owns 8,532 shares of the basic materials company’s stock valued at $501,000 after acquiring an additional 8,530 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Minerals Technologies by 4.2% in the first quarter. First Trust Advisors LP now owns 33,348 shares of the basic materials company’s stock valued at $1,961,000 after acquiring an additional 1,348 shares during the last quarter. Denali Advisors LLC raised its stake in shares of Minerals Technologies by 231.3% in the second quarter. Denali Advisors LLC now owns 15,100 shares of the basic materials company’s stock valued at $808,000 after acquiring an additional 10,542 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new position in shares of Minerals Technologies in the second quarter valued at approximately $417,000. Finally, Oregon Public Employees Retirement Fund raised its stake in shares of Minerals Technologies by 1.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 14,250 shares of the basic materials company’s stock valued at $763,000 after acquiring an additional 201 shares during the last quarter. Institutional investors own 93.99% of the company’s stock.

Minerals Technologies Company Profile

Minerals Technologies Inc develops, produces, and markets various specialty mineral, mineral-based, and synthetic mineral products, and supporting systems and services worldwide. The company's Specialty Minerals segment produces and sells precipitated calcium carbonate and quicklime; and provides natural mineral products comprising limestone and talc.

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