Minerals Technologies (NYSE:MTX) Cut to “Buy” at Wall Street Zen

Wall Street Zen lowered shares of Minerals Technologies (NYSE:MTX) from a strong-buy rating to a buy rating in a research note issued to investors on Saturday morning.

Separately, Truist Financial raised their price objective on Minerals Technologies from $80.00 to $84.00 and gave the company a “buy” rating in a research note on Monday, July 28th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $84.00.

Minerals Technologies Price Performance

Shares of NYSE MTX opened at $63.15 on Friday. Minerals Technologies has a fifty-two week low of $49.54 and a fifty-two week high of $86.49. The business has a 50 day moving average price of $60.97 and a two-hundred day moving average price of $59.56. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.57. The firm has a market cap of $1.98 billion, a PE ratio of 1,052.68 and a beta of 1.22.

Minerals Technologies (NYSE:MTX) last issued its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.12. Minerals Technologies had a return on equity of 10.64% and a net margin of 0.10%.The firm had revenue of $528.90 million during the quarter, compared to analyst estimates of $529.13 million. During the same quarter last year, the firm earned $1.65 EPS. Minerals Technologies’s quarterly revenue was down 2.3% on a year-over-year basis. Sell-side analysts expect that Minerals Technologies will post 6.62 earnings per share for the current fiscal year.

Minerals Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 15th were given a dividend of $0.11 per share. The ex-dividend date was Friday, August 15th. This represents a $0.44 annualized dividend and a dividend yield of 0.7%. Minerals Technologies’s dividend payout ratio is currently 733.33%.

Hedge Funds Weigh In On Minerals Technologies

Institutional investors have recently modified their holdings of the company. First Horizon Advisors Inc. grew its position in shares of Minerals Technologies by 161.1% during the second quarter. First Horizon Advisors Inc. now owns 590 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 364 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Minerals Technologies by 626.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 596 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 514 shares in the last quarter. Blue Trust Inc. raised its stake in Minerals Technologies by 44.6% during the 2nd quarter. Blue Trust Inc. now owns 1,011 shares of the basic materials company’s stock valued at $56,000 after acquiring an additional 312 shares in the last quarter. Strs Ohio bought a new stake in Minerals Technologies during the 1st quarter valued at $70,000. Finally, Smartleaf Asset Management LLC raised its stake in Minerals Technologies by 136.2% during the 2nd quarter. Smartleaf Asset Management LLC now owns 1,278 shares of the basic materials company’s stock valued at $71,000 after acquiring an additional 737 shares in the last quarter. Institutional investors own 97.29% of the company’s stock.

About Minerals Technologies

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.