Minerals Technologies (NYSE:MTX) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Minerals Technologies (NYSE:MTX - Free Report) from a hold rating to a buy rating in a report published on Tuesday.

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

Minerals Technologies Stock Performance

NYSE:MTX traded up $1.07 during midday trading on Tuesday, hitting $67.60. The company's stock had a trading volume of 49,598 shares, compared to its average volume of 174,808. Minerals Technologies has a fifty-two week low of $65.64 and a fifty-two week high of $90.29. The firm's 50 day moving average is $72.69 and its 200-day moving average is $75.74. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.84 and a quick ratio of 1.98. The firm has a market cap of $2.16 billion, a P/E ratio of 13.04 and a beta of 1.28.

Minerals Technologies (NYSE:MTX - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The basic materials company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.39 by $0.11. Minerals Technologies had a return on equity of 11.49% and a net margin of 7.89%. Equities analysts anticipate that Minerals Technologies will post 6.62 earnings per share for the current fiscal year.

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Minerals Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors 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 dividend yield of 0.65%. The ex-dividend date of this dividend was Friday, February 14th. Minerals Technologies's payout ratio is 8.49%.

Hedge Funds Weigh In On Minerals Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of MTX. Jefferies Financial Group Inc. purchased a new stake in Minerals Technologies during the fourth quarter worth approximately $3,078,000. Mackenzie Financial Corp acquired a new position in shares of Minerals Technologies in the fourth quarter valued at approximately $298,000. PharVision Advisers LLC purchased a new stake in shares of Minerals Technologies in the fourth quarter valued at approximately $236,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Minerals Technologies by 17.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 100,681 shares of the basic materials company's stock valued at $7,673,000 after buying an additional 14,820 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its stake in shares of Minerals Technologies by 6.7% in the fourth quarter. Two Sigma Advisers LP now owns 30,300 shares of the basic materials company's stock valued at $2,309,000 after buying an additional 1,900 shares in the last quarter. 97.29% of the stock is currently 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.