Minerals Technologies (NYSE:MTX) Downgraded by StockNews.com to "Hold"

Minerals Technologies (NYSE:MTX - Get Free Report) was downgraded by research analysts at StockNews.com from a "buy" rating to a "hold" rating in a research note issued on Wednesday.

Separately, Truist Financial lowered their target price on 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 Trading Up 0.6 %

Shares of NYSE MTX traded up $0.34 during trading on Wednesday, hitting $56.19. 187,930 shares of the company traded hands, compared to its average volume of 171,242. The company has a 50-day moving average price of $66.45 and a 200-day moving average price of $73.84. The firm has a market capitalization of $1.79 billion, a P/E ratio of 10.85 and a beta of 1.25. Minerals Technologies has a 1 year low of $52.40 and a 1 year high of $90.30. The company has a quick ratio of 1.98, a current ratio of 2.84 and a debt-to-equity ratio of 0.54.

Minerals Technologies (NYSE:MTX - Get Free Report) last released its earnings results on Thursday, February 6th. The basic materials company reported $1.50 EPS for the quarter, beating 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%. On average, equities analysts predict that Minerals Technologies will post 6.62 EPS for the current year.

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Institutional Trading of Minerals Technologies

Institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC lifted its holdings in shares of Minerals Technologies by 42.7% during the 4th quarter. FMR LLC now owns 1,761,925 shares of the basic materials company's stock worth $134,276,000 after acquiring an additional 527,206 shares during the period. Norges Bank bought a new stake in shares of Minerals Technologies in the fourth quarter valued at about $16,360,000. American Century Companies Inc. boosted its stake in shares of Minerals Technologies by 31.1% during the 4th quarter. American Century Companies Inc. now owns 861,173 shares of the basic materials company's stock worth $65,630,000 after buying an additional 204,371 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Minerals Technologies in the 4th quarter valued at approximately $10,797,000. Finally, Foundry Partners LLC acquired a new stake in Minerals Technologies in the 4th quarter valued at about $7,735,000. 97.29% of the stock is currently owned by institutional investors and hedge funds.

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.