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 note published on Tuesday.

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

Minerals Technologies Trading Down 0.8 %

NYSE MTX opened at $66.51 on Tuesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.98 and a current ratio of 2.84. The firm has a market cap of $2.12 billion, a PE ratio of 12.84 and a beta of 1.28. Minerals Technologies has a one year low of $65.64 and a one year high of $90.29. The firm’s fifty day moving average is $72.69 and its two-hundred day moving average is $75.74.

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

Minerals Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 14th were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.66%. Minerals Technologies’s dividend payout ratio (DPR) is 8.49%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in MTX. FMR LLC boosted its holdings in Minerals Technologies by 42.7% during the fourth quarter. FMR LLC now owns 1,761,925 shares of the basic materials company’s stock worth $134,276,000 after buying an additional 527,206 shares in the last quarter. Norges Bank purchased a new stake in Minerals Technologies during the fourth quarter worth about $16,360,000. American Century Companies Inc. boosted its holdings in Minerals Technologies by 31.1% during the fourth quarter. American Century Companies Inc. now owns 861,173 shares of the basic materials company’s stock worth $65,630,000 after buying an additional 204,371 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Minerals Technologies during the fourth quarter worth about $10,797,000. Finally, Foundry Partners LLC purchased a new stake in Minerals Technologies during the fourth quarter worth about $7,735,000. 97.29% of the stock is currently owned by institutional investors and hedge funds.

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.