StockNews.com downgraded shares of Minerals Technologies (NYSE:MTX - Free Report) from a buy rating to a hold rating in a report published on Tuesday morning.
Separately, Truist Financial decreased their price objective on Minerals Technologies from $103.00 to $101.00 and set a "buy" rating on the stock in a report on Monday, February 10th.
Get Our Latest Analysis on Minerals Technologies
Minerals Technologies Price Performance
Shares of MTX stock traded up $0.40 during trading hours on Tuesday, reaching $68.69. The company had a trading volume of 225,984 shares, compared to its average volume of 176,161. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.98 and a current ratio of 2.84. The stock has a fifty day moving average of $74.32 and a 200-day moving average of $76.17. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of 13.26 and a beta of 1.30. Minerals Technologies has a 12-month low of $67.71 and a 12-month high of $90.29.
Minerals Technologies (NYSE:MTX - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The basic materials company reported $1.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.39 by $0.11. Minerals Technologies had a return on equity of 11.49% and a net margin of 7.89%. On average, equities analysts anticipate that Minerals Technologies will post 6.62 earnings per share for the current year.
Minerals Technologies Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend is Friday, February 14th. Minerals Technologies's dividend payout ratio is presently 8.49%.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the business. State Street Corp lifted its stake in Minerals Technologies by 2.6% during the third quarter. State Street Corp now owns 1,268,792 shares of the basic materials company's stock worth $97,989,000 after purchasing an additional 32,196 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Minerals Technologies by 9.7% during the third quarter. JPMorgan Chase & Co. now owns 115,887 shares of the basic materials company's stock worth $8,950,000 after purchasing an additional 10,284 shares in the last quarter. Franklin Resources Inc. lifted its stake in Minerals Technologies by 21.1% during the third quarter. Franklin Resources Inc. now owns 47,847 shares of the basic materials company's stock worth $3,728,000 after purchasing an additional 8,335 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in Minerals Technologies by 42.2% during the third quarter. Thrivent Financial for Lutherans now owns 64,110 shares of the basic materials company's stock worth $4,951,000 after purchasing an additional 19,037 shares in the last quarter. Finally, Verition Fund Management LLC increased its position in shares of Minerals Technologies by 161.2% during the third quarter. Verition Fund Management LLC now owns 10,332 shares of the basic materials company's stock worth $798,000 after acquiring an additional 6,377 shares during the period. 97.29% of the stock is currently owned by institutional investors and hedge funds.
Minerals Technologies Company Profile
(
Get Free Report)
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.
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