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

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 73.80 on Thursday. The stock’s 50 day moving average price is $68.54 and its 200 day moving average price is $64.20. Minerals Technologies has a one year low of $35.89 and a one year high of $74.05. The company has a market capitalization of $2.58 billion, a P/E ratio of 22.84 and a beta of 2.00.

In other news, insider Jonathan J. Hastings sold 7,606 shares of the business’s stock in a transaction that occurred on Wednesday, August 31st. The stock was sold at an average price of $70.85, for a total transaction of $538,885.10. Following the transaction, the insider now owns 18,565 shares of the company’s stock, valued at approximately $1,315,330.25. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Douglas W. Mayger sold 2,825 shares of the business’s stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $70.77, for a total value of $199,925.25. Following the transaction, the vice president now directly owns 26,585 shares in the company, valued at approximately $1,881,420.45. The disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Minerals Technologies by 10.5% in the first quarter. BlackRock Inc. now owns 13,710 shares of the company’s stock worth $780,000 after buying an additional 1,305 shares during the last quarter. BlackRock Group LTD boosted its position in Minerals Technologies by 24.0% in the first quarter. BlackRock Group LTD now owns 23,174 shares of the company’s stock worth $1,318,000 after buying an additional 4,487 shares during the last quarter. State Street Corp boosted its position in Minerals Technologies by 0.5% in the first quarter. State Street Corp now owns 1,096,521 shares of the company’s stock worth $62,336,000 after buying an additional 5,756 shares during the last quarter. Geode Capital Management LLC boosted its position in Minerals Technologies by 4.6% in the first quarter. Geode Capital Management LLC now owns 275,885 shares of the company’s stock worth $15,684,000 after buying an additional 12,111 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in Minerals Technologies by 23.2% in the first quarter. Wellington Management Group LLP now owns 1,319,174 shares of the company’s stock worth $74,995,000 after buying an additional 248,125 shares during the last quarter. 95.61% of the stock is currently owned by hedge funds and other institutional investors.

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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