Minerals Technologies (NYSE:MTX) Lowered to “Hold” Rating by StockNews.com

Minerals Technologies (NYSE:MTX) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

Separately, Truist Financial lowered their target price on shares of Minerals Technologies from $103.00 to $101.00 and set a “buy” rating for the company in a research note on Monday, February 10th.

Minerals Technologies Trading Up 1.4 %

NYSE:MTX traded up $1.00 during trading hours on Tuesday, hitting $70.74. 272,260 shares of the stock were exchanged, compared to its average volume of 173,193. The company has a market capitalization of $2.26 billion, a P/E ratio of 13.66 and a beta of 1.30. The company has a quick ratio of 1.98, a current ratio of 2.84 and a debt-to-equity ratio of 0.54. The company’s 50 day moving average is $74.89 and its two-hundred day moving average is $76.29. Minerals Technologies has a twelve month low of $69.43 and a twelve month high of $90.29.

Minerals Technologies (NYSE:MTX) last issued its quarterly earnings results on Thursday, February 6th. The basic materials company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.39 by $0.11. Minerals Technologies had a net margin of 7.89% and a return on equity of 11.49%. On average, sell-side analysts anticipate that Minerals Technologies will post 6.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Minerals Technologies

A number of large investors have recently modified their holdings of the business. Mackenzie Financial Corp acquired a new position in shares of Minerals Technologies during the 4th quarter worth about $298,000. PharVision Advisers LLC acquired a new stake in Minerals Technologies in the 4th quarter valued at about $236,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Minerals Technologies by 17.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 100,681 shares of the basic materials company’s stock worth $7,673,000 after purchasing an additional 14,820 shares during the period. Two Sigma Advisers LP increased its position in Minerals Technologies by 6.7% during the fourth quarter. Two Sigma Advisers LP now owns 30,300 shares of the basic materials company’s stock worth $2,309,000 after buying an additional 1,900 shares during the last quarter. Finally, ProShare Advisors LLC raised its stake in Minerals Technologies by 42.7% in the 4th quarter. ProShare Advisors LLC now owns 9,559 shares of the basic materials company’s stock valued at $728,000 after acquiring an additional 2,858 shares during the period. 97.29% of the stock is currently owned by institutional investors and hedge funds.

Minerals Technologies Company Profile

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.