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

Minerals Technologies (NYSE:MTX) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other research firms also recently commented on MTX. Weiss Ratings restated a “sell (d)” rating on shares of Minerals Technologies in a research note on Monday, December 8th. Wall Street Zen cut Minerals Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 18th. One investment analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $84.00.

Minerals Technologies Stock Performance

NYSE MTX opened at $61.67 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.98 and a quick ratio of 1.37. The company has a market cap of $1.92 billion, a P/E ratio of -3,082.16 and a beta of 1.27. The stock has a 50-day moving average of $58.54 and a two-hundred day moving average of $59.44. Minerals Technologies has a 1-year low of $49.54 and a 1-year high of $79.60.

Minerals Technologies (NYSE:MTX) last posted its quarterly earnings data on Wednesday, March 15th. The basic materials company reported $1.50 EPS for the quarter. The business had revenue of $557.00 million during the quarter. Minerals Technologies had a negative net margin of 0.08% and a positive return on equity of 10.69%. As a group, analysts anticipate that Minerals Technologies will post 6.62 EPS for the current year.

Insider Transactions at Minerals Technologies

In other news, insider Brett Argirakis sold 6,501 shares of the company’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $58.68, for a total transaction of $381,478.68. Following the completion of the transaction, the insider directly owned 27,602 shares of the company’s stock, valued at approximately $1,619,685.36. This represents a 19.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Minerals Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. CIBC Bancorp USA Inc. purchased a new stake in shares of Minerals Technologies during the 3rd quarter worth approximately $209,000. Danske Bank A S purchased a new stake in Minerals Technologies in the third quarter valued at $56,000. Hancock Whitney Corp acquired a new position in Minerals Technologies in the third quarter valued at $429,000. Dark Forest Capital Management LP acquired a new stake in shares of Minerals Technologies during the third quarter worth about $1,734,000. Finally, Verition Fund Management LLC acquired a new stake in shares of Minerals Technologies during the third quarter worth about $602,000. 97.29% of the stock is 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.