Minerals Technologies (NYSE:MTX) Raised 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 released on Tuesday.

Separately, Truist Financial reduced their price target on shares of Minerals Technologies from $103.00 to $101.00 and set a "buy" rating for the company in a research report on Monday, February 10th.

Minerals Technologies Trading Down 4.9 %

Shares of MTX stock traded down $2.88 during trading hours on Tuesday, hitting $55.68. The company had a trading volume of 239,085 shares, compared to its average volume of 168,796. Minerals Technologies has a fifty-two week low of $54.80 and a fifty-two week high of $90.30. The company's fifty day moving average is $69.35 and its 200 day moving average is $74.73. The stock has a market capitalization of $1.78 billion, a PE ratio of 10.75 and a beta of 1.25. 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 (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, 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%. Research analysts expect that Minerals Technologies will post 6.62 earnings per share for the current fiscal year.

Minerals Technologies Announces Dividend

The firm also recently announced 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 0.79%. The ex-dividend date was Friday, February 14th. Minerals Technologies's payout ratio is currently 8.49%.

Institutional Trading of Minerals Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the company. Jefferies Financial Group Inc. purchased a new stake in shares of Minerals Technologies during the 4th quarter valued at about $3,078,000. Mackenzie Financial Corp bought a new stake in shares of Minerals Technologies in the fourth quarter worth $298,000. PharVision Advisers LLC acquired a new position in Minerals Technologies during the 4th quarter worth $236,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Minerals Technologies by 17.3% in the 4th 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 purchasing an additional 14,820 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its position in shares of Minerals Technologies by 6.7% during the fourth quarter. Two Sigma Advisers LP now owns 30,300 shares of the basic materials company's stock worth $2,309,000 after purchasing an additional 1,900 shares during the last quarter. 97.29% of the stock is owned by hedge funds and other institutional investors.

Minerals Technologies Company Profile

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.