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

StockNews.com downgraded shares of Minerals Technologies (NYSE:MTX - Free Report) from a buy rating to a hold rating in a research note published on Wednesday.

Separately, Truist Financial dropped their price objective on shares of Minerals Technologies from $103.00 to $101.00 and set a "buy" rating on the stock in a report on Monday, February 10th.

Minerals Technologies Stock Down 3.0 %

NYSE MTX traded down $2.04 during midday trading on Wednesday, hitting $65.13. 1,215,960 shares of the company traded hands, compared to its average volume of 156,091. The company has a market cap of $2.08 billion, a PE ratio of 12.57 and a beta of 1.28. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.84 and a quick ratio of 1.98. Minerals Technologies has a 52 week low of $64.30 and a 52 week high of $90.30. The company's 50-day simple moving average is $71.92 and its 200-day simple moving average is $75.37.

Minerals Technologies (NYSE:MTX - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The basic materials company reported $1.50 earnings per share for the quarter, beating analysts' consensus estimates of $1.39 by $0.11. Minerals Technologies had a net margin of 7.89% and a return on equity of 11.49%. As a group, equities research analysts forecast that Minerals Technologies will post 6.62 earnings per share for the current year.

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Minerals Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 14th were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend was Friday, February 14th. Minerals Technologies's dividend payout ratio is presently 8.49%.

Institutional Trading of Minerals Technologies

Several large investors have recently made changes to their positions in the business. Blair William & Co. IL raised its stake in shares of Minerals Technologies by 3.2% during the 4th quarter. Blair William & Co. IL now owns 5,657 shares of the basic materials company's stock valued at $431,000 after buying an additional 177 shares during the last quarter. Blue Trust Inc. raised its position in Minerals Technologies by 21.4% during the fourth quarter. Blue Trust Inc. now owns 1,009 shares of the basic materials company's stock valued at $78,000 after acquiring an additional 178 shares in the last quarter. Balyasny Asset Management L.P. lifted its holdings in Minerals Technologies by 4.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 5,312 shares of the basic materials company's stock valued at $405,000 after acquiring an additional 235 shares during the period. Savant Capital LLC boosted its position in Minerals Technologies by 7.4% in the 4th quarter. Savant Capital LLC now owns 3,783 shares of the basic materials company's stock worth $288,000 after purchasing an additional 260 shares in the last quarter. Finally, QRG Capital Management Inc. grew its stake in shares of Minerals Technologies by 4.5% during the 4th quarter. QRG Capital Management Inc. now owns 6,481 shares of the basic materials company's stock worth $494,000 after purchasing an additional 280 shares during the period. 97.29% of the stock is owned by hedge funds and other 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.