Minerals Technologies (NYSE:MTX) Stock Rating Lowered by Zacks Research

Minerals Technologies (NYSE:MTX) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Wednesday, Zacks reports.

Other analysts also recently issued reports about the stock. Weiss Ratings lowered shares of Minerals Technologies from a “hold (c+)” rating to a “sell (d+)” rating in a research note on Monday, August 3rd. Wall Street Zen cut shares of Minerals Technologies from a “strong-buy” rating to a “hold” rating in a research report on Saturday, August 8th. One analyst has rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Minerals Technologies has an average rating of “Reduce” and an average target price of $90.00.

Minerals Technologies Price Performance

Shares of MTX opened at $63.69 on Wednesday. The company has a market cap of $1.98 billion, a P/E ratio of 10.88 and a beta of 1.12. The stock has a fifty day moving average price of $68.97 and a 200 day moving average price of $72.82. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.43 and a quick ratio of 1.00. Minerals Technologies has a 12 month low of $53.94 and a 12 month high of $84.34.

Minerals Technologies (NYSE:MTX) last issued its earnings results on Thursday, July 30th. The basic materials company reported $1.60 earnings per share for the quarter, missing the consensus estimate of $1.64 by ($0.04). Minerals Technologies had a positive return on equity of 10.63% and a negative net margin of 3.13%. The company had revenue of $548.40 million during the quarter, compared to analyst estimates of $558.77 million. During the same period in the prior year, the business earned $1.55 earnings per share. Minerals Technologies’s quarterly revenue was up 3.7% on a year-over-year basis. On average, research analysts forecast that Minerals Technologies will post 5.92 earnings per share for the current year.

Institutional Trading of Minerals Technologies

A number of large investors have recently added to or reduced their stakes in MTX. QRG Capital Management Inc. increased its holdings in shares of Minerals Technologies by 48.6% in the second quarter. QRG Capital Management Inc. now owns 4,488 shares of the basic materials company’s stock valued at $332,000 after buying an additional 1,467 shares in the last quarter. Engineers Gate Manager LP raised its position in shares of Minerals Technologies by 97.2% during the second quarter. Engineers Gate Manager LP now owns 9,964 shares of the basic materials company’s stock worth $737,000 after purchasing an additional 4,910 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in shares of Minerals Technologies during the second quarter worth $124,000. Corient Private Wealth LP purchased a new stake in shares of Minerals Technologies during the second quarter valued at $303,000. Finally, Amundi lifted its holdings in shares of Minerals Technologies by 228.0% during the second quarter. Amundi now owns 38,635 shares of the basic materials company’s stock valued at $2,858,000 after purchasing an additional 26,855 shares during the last quarter. 97.29% of the stock is currently owned by institutional investors.

Minerals Technologies Company Profile

Minerals Technologies Inc (NYSE: MTX) is a global specialty minerals and materials company that develops, produces and markets engineered mineral products and related technologies. Its products are used by manufacturers in the paper, packaging, construction, food, pharmaceutical, agriculture, energy and other industrial markets.

The company’s Specialty Minerals businesses produce precipitated calcium carbonate, which is used as a paper filler and coating pigment, as well as mineral-based products for construction materials, automotive components, polymers, paints, coatings, food and other applications.