Minerals Technologies (NYSE:MTX) Upgraded at StockNews.com

StockNews.com upgraded shares of Minerals Technologies (NYSE:MTX) from a hold rating to a buy rating in a research report released on Friday.

Minerals Technologies Stock Up 2.4 %

Minerals Technologies stock opened at $76.98 on Friday. Minerals Technologies has a fifty-two week low of $48.61 and a fifty-two week high of $90.29. The firm has a market capitalization of $2.48 billion, a price-to-earnings ratio of 26.64 and a beta of 1.30. The stock’s fifty day moving average is $73.96 and its two-hundred day moving average is $78.00. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.72 and a current ratio of 2.46.

Minerals Technologies (NYSE:MTX) last posted its earnings results on Thursday, July 25th. The basic materials company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.05. The firm had revenue of $541.20 million during the quarter, compared to the consensus estimate of $561.60 million. Minerals Technologies had a net margin of 4.05% and a return on equity of 11.46%. The firm’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same period last year, the firm posted $1.31 EPS. Analysts predict that Minerals Technologies will post 6.22 EPS for the current fiscal year.

Minerals Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 16th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend was Friday, August 16th. Minerals Technologies’s dividend payout ratio (DPR) is presently 13.84%.

Hedge Funds Weigh In On Minerals Technologies

A number of institutional investors have recently made changes to their positions in the stock. Wedge Capital Management L L P NC raised its stake in Minerals Technologies by 48.3% in the 3rd quarter. Wedge Capital Management L L P NC now owns 18,254 shares of the basic materials company’s stock valued at $1,410,000 after purchasing an additional 5,942 shares during the last quarter. Inspire Investing LLC raised its position in shares of Minerals Technologies by 24.5% in the third quarter. Inspire Investing LLC now owns 5,948 shares of the basic materials company’s stock valued at $459,000 after buying an additional 1,170 shares during the last quarter. Ritholtz Wealth Management lifted its stake in shares of Minerals Technologies by 84.9% during the third quarter. Ritholtz Wealth Management now owns 5,243 shares of the basic materials company’s stock valued at $405,000 after buying an additional 2,407 shares during the period. CWM LLC boosted its position in Minerals Technologies by 40.6% during the third quarter. CWM LLC now owns 1,870 shares of the basic materials company’s stock worth $144,000 after acquiring an additional 540 shares during the last quarter. Finally, Kesler Norman & Wride LLC acquired a new stake in Minerals Technologies during the third quarter worth approximately $455,000. 97.29% of the stock is 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.