Minerals Technologies (NYSE:MTX) Stock Rating Lowered by Wall Street Zen

Minerals Technologies (NYSE:MTX) was downgraded by equities research analysts at Wall Street Zen from a “strong-buy” rating to a “hold” rating in a report released on Saturday.

Other analysts have also issued reports about the stock. Truist Financial raised their price target on shares of Minerals Technologies from $89.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Seaport Research Partners reaffirmed a “buy” rating on shares of Minerals Technologies in a research report on Monday, May 4th. Finally, Weiss Ratings cut shares of Minerals Technologies from a “hold (c+)” rating to a “sell (d+)” rating in a research note on Monday, August 3rd. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $90.00.

Minerals Technologies Trading Down 0.2%

Shares of Minerals Technologies stock opened at $75.15 on Friday. The company’s fifty day simple moving average is $75.40 and its 200-day simple moving average is $73.10. The company has a market cap of $2.34 billion, a price-to-earnings ratio of -34.63 and a beta of 1.14. The company has a current ratio of 1.43, a quick ratio of 1.00 and a debt-to-equity ratio of 0.60. Minerals Technologies has a 1 year low of $53.94 and a 1 year high of $84.34.

Minerals Technologies (NYSE:MTX) last announced its earnings results on Thursday, July 30th. The basic materials company reported $1.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.04). The company had revenue of $548.40 million for the quarter, compared to the consensus estimate of $558.77 million. Minerals Technologies had a positive return on equity of 10.63% and a negative net margin of 3.13%.The company’s revenue was up 3.7% compared to the same quarter last year. During the same period last year, the firm posted $1.55 EPS. As a group, sell-side analysts expect that Minerals Technologies will post 6.03 EPS for the current year.

Institutional Trading of Minerals Technologies

Several institutional investors have recently bought and sold shares of MTX. BlackRock Inc. bought a new stake in Minerals Technologies in the second quarter valued at $361,721,000. Deutsche Bank AG bought a new position in shares of Minerals Technologies during the second quarter valued at $2,484,000. Persistent Asset Partners Ltd bought a new position in shares of Minerals Technologies during the second quarter valued at $50,000. Global Retirement Partners LLC acquired a new stake in shares of Minerals Technologies in the 2nd quarter valued at $30,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Minerals Technologies in the 2nd quarter valued at $20,237,000. Institutional investors and hedge funds own 97.29% of the company’s stock.

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.