Minerals Technologies (NYSE:MTX) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Minerals Technologies (NYSE:MTX – Get Rating) from a hold rating to a buy rating in a research report sent to investors on Tuesday.

A number of other brokerages have also issued reports on MTX. JPMorgan Chase & Co. raised shares of Minerals Technologies from a neutral rating to an overweight rating and cut their price objective for the company from $80.00 to $75.00 in a report on Monday, February 7th. Zacks Investment Research raised shares of Minerals Technologies from a sell rating to a hold rating in a report on Thursday, April 28th. Finally, CL King cut their price objective on shares of Minerals Technologies from $90.00 to $87.00 in a report on Monday, February 7th.

Minerals Technologies stock opened at $65.86 on Tuesday. The business has a 50 day moving average price of $65.00. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of 13.15 and a beta of 1.30. Minerals Technologies has a 12-month low of $60.31 and a 12-month high of $88.62. The company has a quick ratio of 1.66, a current ratio of 2.40 and a debt-to-equity ratio of 0.58.

Minerals Technologies (NYSE:MTX – Get Rating) last announced its quarterly earnings data on Thursday, April 28th. The basic materials company reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.11. Minerals Technologies had a net margin of 8.75% and a return on equity of 11.17%. The business had revenue of $519.10 million during the quarter, compared to analyst estimates of $513.83 million. During the same period last year, the firm posted $1.17 EPS. The company’s revenue was up 14.7% on a year-over-year basis. As a group, analysts predict that Minerals Technologies will post 5.6 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Pinebridge Investments L.P. purchased a new position in Minerals Technologies during the fourth quarter worth $88,000. Harbor Investment Advisory LLC boosted its stake in Minerals Technologies by 19.9% during the fourth quarter. Harbor Investment Advisory LLC now owns 1,373 shares of the basic materials company’s stock worth $100,000 after buying an additional 228 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in Minerals Technologies by 22.4% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,866 shares of the basic materials company’s stock worth $136,000 after buying an additional 342 shares during the period. Advisor Group Holdings Inc. boosted its stake in Minerals Technologies by 24.9% during the fourth quarter. Advisor Group Holdings Inc. now owns 2,075 shares of the basic materials company’s stock worth $151,000 after buying an additional 414 shares during the period. Finally, Rowland & Co. Investment Counsel ADV boosted its stake in Minerals Technologies by 25.6% during the third quarter. Rowland & Co. Investment Counsel ADV now owns 3,775 shares of the basic materials company’s stock worth $177,000 after buying an additional 770 shares during the period. 94.87% of the stock is owned by institutional investors.

Minerals Technologies Company Profile (Get Rating)

Minerals Technologies Inc develops, produces, and markets various specialty mineral, mineral-based, and synthetic mineral products, and supporting systems and services. The company operates through three segments: Performance Materials, Specialty Minerals and Refractories. The Performance Materials segment supplies bentonite and bentonite-related products, as well as leonardite.

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