Minerals Technologies (NYSE:MTX) Upgraded by Zacks Research to Hold Rating

Minerals Technologies (NYSE:MTX) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Several other equities analysts have also weighed in on the stock. Wall Street Zen lowered shares of Minerals Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 18th. Weiss Ratings restated a “sell (d+)” rating on shares of Minerals Technologies in a report on Monday, December 22nd. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $84.00.

Minerals Technologies Stock Up 1.2%

Shares of MTX opened at $67.63 on Wednesday. The business’s fifty day moving average price is $60.55 and its two-hundred day moving average price is $60.45. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of -3,379.61 and a beta of 1.27. Minerals Technologies has a 52 week low of $49.54 and a 52 week high of $78.23. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.37 and a current ratio of 1.98.

Minerals Technologies (NYSE:MTX) last issued its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.08. Minerals Technologies had a positive return on equity of 10.69% and a negative net margin of 0.08%.The business had revenue of $532.40 million for the quarter, compared to analyst estimates of $531.20 million. During the same quarter in the prior year, the firm posted $1.51 earnings per share. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. On average, analysts predict that Minerals Technologies will post 6.62 earnings per share for the current year.

Insider Activity

In other news, insider Dj Monagle III sold 23,093 shares of the firm’s stock in a transaction that occurred on Monday, December 29th. The shares were sold at an average price of $61.90, for a total transaction of $1,429,456.70. Following the completion of the transaction, the insider directly owned 84,349 shares of the company’s stock, valued at $5,221,203.10. This trade represents a 21.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brett Argirakis sold 6,501 shares of the business’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $58.68, for a total transaction of $381,478.68. Following the completion of the sale, the insider directly owned 27,602 shares in the company, valued at approximately $1,619,685.36. This represents a 19.06% decrease in their position. The disclosure for this sale is available in the SEC filing. 3.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Minerals Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC bought a new position in Minerals Technologies during the second quarter worth about $212,000. CSM Advisors LLC bought a new stake in Minerals Technologies in the 2nd quarter valued at $4,884,000. American Century Companies Inc. lifted its holdings in Minerals Technologies by 20.3% during the 2nd quarter. American Century Companies Inc. now owns 1,284,532 shares of the basic materials company’s stock valued at $70,739,000 after purchasing an additional 216,453 shares during the last quarter. Inspire Investing LLC boosted its position in Minerals Technologies by 32.6% during the second quarter. Inspire Investing LLC now owns 8,381 shares of the basic materials company’s stock worth $462,000 after purchasing an additional 2,060 shares during the period. Finally, Blue Trust Inc. boosted its position in Minerals Technologies by 44.6% during the second quarter. Blue Trust Inc. now owns 1,011 shares of the basic materials company’s stock worth $56,000 after purchasing an additional 312 shares during the period. 97.29% of the stock is owned by institutional investors.

About Minerals Technologies

Minerals Technologies Inc develops, produces and processes a broad range of mineral-based products and solutions that serve a variety of industrial applications. Its offerings include bentonite, perlite, precipitated calcium carbonate (PCC), mineral sands, foundry additives, performance minerals and specialty chemicals designed to enhance performance in markets such as paper, steel, construction, oil and gas, environmental remediation and consumer products.

The company operates through several business segments, including Specialty Minerals, Refractory Minerals, Performance Materials and Recycled Materials.