Minerals Technologies Inc (NYSE:MTX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

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. “

Separately, JPMorgan Chase & Co. cut Minerals Technologies from an “overweight” rating to a “neutral” rating and set a $76.00 price target for the company. in a report on Friday, December 2nd. They noted that the move was a valuation call.

Minerals Technologies (NYSE:MTX) opened at 74.65 on Tuesday. The stock’s 50 day moving average is $77.63 and its 200-day moving average is $74.58. Minerals Technologies has a 12 month low of $51.29 and a 12 month high of $83.85. The stock has a market capitalization of $2.62 billion, a price-to-earnings ratio of 19.70 and a beta of 2.04.

Minerals Technologies (NYSE:MTX) last released its quarterly earnings results on Thursday, February 2nd. The company reported $1.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.03. The firm earned $401.30 million during the quarter, compared to analysts’ expectations of $393.05 million. Minerals Technologies had a return on equity of 15.57% and a net margin of 8.14%. Minerals Technologies’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.00 EPS. On average, equities research analysts expect that Minerals Technologies will post $4.75 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 9th. Shareholders of record on Friday, February 17th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date was Wednesday, February 15th. Minerals Technologies’s payout ratio is 5.28%.

Your IP Address:

In other Minerals Technologies news, insider Douglas W. Mayger sold 7,373 shares of the company’s stock in a transaction that occurred on Friday, February 10th. The stock was sold at an average price of $78.18, for a total value of $576,421.14. Following the transaction, the insider now directly owns 31,355 shares of the company’s stock, valued at approximately $2,451,333.90. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Douglas W. Mayger sold 790 shares of the company’s stock in a transaction that occurred on Wednesday, February 15th. The shares were sold at an average price of $79.08, for a total value of $62,473.20. Following the completion of the transaction, the insider now directly owns 31,554 shares in the company, valued at $2,495,290.32. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company’s stock.

Several institutional investors have recently made changes to their positions in MTX. Northern Trust Corp raised its position in shares of Minerals Technologies by 1.5% in the third quarter. Northern Trust Corp now owns 1,099,348 shares of the company’s stock worth $77,713,000 after buying an additional 16,640 shares during the last quarter. BlackRock Fund Advisors raised its position in shares of Minerals Technologies by 6.1% in the third quarter. BlackRock Fund Advisors now owns 1,878,323 shares of the company’s stock worth $132,779,000 after buying an additional 107,864 shares during the last quarter. Citadel Advisors LLC raised its position in shares of Minerals Technologies by 24.0% in the third quarter. Citadel Advisors LLC now owns 40,608 shares of the company’s stock worth $2,871,000 after buying an additional 7,852 shares during the last quarter. BlackRock Investment Management LLC raised its position in shares of Minerals Technologies by 0.4% in the third quarter. BlackRock Investment Management LLC now owns 222,015 shares of the company’s stock worth $15,694,000 after buying an additional 982 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Minerals Technologies by 41.1% in the third quarter. Wells Fargo & Company MN now owns 23,309 shares of the company’s stock worth $1,647,000 after buying an additional 6,788 shares during the last quarter. 96.28% of the stock is currently owned by institutional investors.

About Minerals Technologies

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

Get a free copy of the Zacks research report on Minerals Technologies (MTX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Minerals Technologies Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Minerals Technologies Inc and related companies with Analyst Ratings Network's FREE daily email newsletter.