Minerals Technologies Inc. (NYSE:MTX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

According to Zacks, “Minerals Technologies Inc. is a resource- and technology-based company that develops, produces and markets worldwide a broad range of specialty mineral, mineral-based and synthetic mineral products and related systems and services. The Company has five reportable segments: Specialty Minerals, Refractories, Performance Materials, Construction Technologies and Energy Services. “

Minerals Technologies (NYSE:MTX) opened at 68.15 on Wednesday. The stock’s 50 day moving average price is $68.70 and its 200 day moving average price is $62.56. The firm has a market capitalization of $2.37 billion, a PE ratio of 23.58 and a beta of 1.83. Minerals Technologies has a 52-week low of $35.89 and a 52-week high of $72.54.

Minerals Technologies (NYSE:MTX) last released its quarterly earnings data on Thursday, August 4th. The company reported $1.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.04. Minerals Technologies had a return on equity of 15.64% and a net margin of 5.89%. The company had revenue of $427 million for the quarter, compared to the consensus estimate of $437.20 million. During the same quarter last year, the business posted $1.18 EPS. Minerals Technologies’s revenue for the quarter was down 7.9% on a year-over-year basis. On average, analysts predict that Minerals Technologies will post $4.48 EPS for the current fiscal year.

In related news, VP Douglas W. Mayger sold 2,825 shares of the firm’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $70.77, for a total transaction of $199,925.25. Following the completion of the transaction, the vice president now directly owns 26,585 shares of the company’s stock, valued at approximately $1,881,420.45. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Douglas T. Dietrich sold 11,080 shares of the firm’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $69.21, for a total value of $766,846.80. Following the transaction, the chief financial officer now directly owns 46,779 shares of the company’s stock, valued at $3,237,574.59. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in MTX. Acrospire Investment Management LLC raised its position in shares of Minerals Technologies by 35.7% in the second quarter. Acrospire Investment Management LLC now owns 1,900 shares of the company’s stock valued at $108,000 after buying an additional 500 shares in the last quarter. Bessemer Group Inc. raised its position in shares of Minerals Technologies by 100.1% in the second quarter. Bessemer Group Inc. now owns 2,027 shares of the company’s stock valued at $116,000 after buying an additional 1,014 shares in the last quarter. LS Investment Advisors LLC raised its position in shares of Minerals Technologies by 69.7% in the second quarter. LS Investment Advisors LLC now owns 2,069 shares of the company’s stock valued at $118,000 after buying an additional 850 shares in the last quarter. Strs Ohio raised its position in shares of Minerals Technologies by 10.0% in the second quarter. Strs Ohio now owns 2,200 shares of the company’s stock valued at $124,000 after buying an additional 200 shares in the last quarter. Finally, Public Employees Retirement System of Ohio raised its position in shares of Minerals Technologies by 5.0% in the second quarter. Public Employees Retirement System of Ohio now owns 2,262 shares of the company’s stock valued at $128,000 after buying an additional 107 shares in the last quarter. 95.62% of the stock is owned by institutional investors and hedge funds.

Minerals Technologies Company Profile

Minerals Technologies Inc is a resource-and technology-based company that develops, produces and markets worldwide a range of specialty mineral, mineral-based and synthetic mineral products and related systems and services. It has five segments. The Specialty Minerals, Performance Materials, and Construction Technologies segments produce and sell products and technologies based primarily upon the mineral products calcium carbonate, bentonite, talc, chromite and leonardite.

5 Day Chart for NYSE:MTX

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