Minerals Technologies (NYSE:MTX) Upgraded at Zacks Research

Zacks Research upgraded shares of Minerals Technologies (NYSE:MTX) from a strong sell rating to a hold rating in a research report released on Wednesday morning,Zacks.com reports.

A number of other research firms have also recently issued reports on MTX. Weiss Ratings reissued a “sell (d+)” rating on shares of Minerals Technologies in a research report on Monday, December 22nd. Wall Street Zen downgraded Minerals Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 18th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $84.00.

Minerals Technologies Trading Down 0.7%

NYSE:MTX opened at $67.17 on Wednesday. The stock has a market cap of $2.09 billion, a PE ratio of -3,356.92 and a beta of 1.27. Minerals Technologies has a fifty-two week low of $49.54 and a fifty-two week high of $78.23. 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 stock’s 50-day moving average is $60.78 and its two-hundred day moving average is $60.53.

Minerals Technologies (NYSE:MTX) last posted its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.08. Minerals Technologies had a negative net margin of 0.08% and a positive return on equity of 10.69%. The business had revenue of $532.40 million during the quarter, compared to analyst estimates of $531.20 million. During the same period in the prior year, the firm earned $1.51 earnings per share. The firm’s revenue was up 1.5% compared to the same quarter last year. As a group, equities research analysts forecast that Minerals Technologies will post 6.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Minerals Technologies news, insider Brett Argirakis sold 6,501 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $58.68, for a total transaction of $381,478.68. Following the transaction, the insider owned 27,602 shares in the company, valued at $1,619,685.36. This trade represents a 19.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Dj Monagle III sold 23,093 shares of the business’s stock in a transaction on Monday, December 29th. The stock was sold at an average price of $61.90, for a total transaction of $1,429,456.70. Following the completion of the sale, the insider owned 84,349 shares of the company’s stock, valued at $5,221,203.10. The trade was a 21.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 3.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Minerals Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. First Horizon Advisors Inc. boosted its holdings in Minerals Technologies by 161.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 590 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 364 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Minerals Technologies by 626.8% during the second quarter. EverSource Wealth Advisors LLC now owns 596 shares of the basic materials company’s stock valued at $33,000 after buying an additional 514 shares during the last quarter. First Horizon Corp bought a new stake in shares of Minerals Technologies in the third quarter valued at about $35,000. Blue Trust Inc. lifted its stake in shares of Minerals Technologies by 44.6% in the second quarter. Blue Trust Inc. now owns 1,011 shares of the basic materials company’s stock valued at $56,000 after buying an additional 312 shares during the period. Finally, Danske Bank A S acquired a new stake in Minerals Technologies during the third quarter worth about $56,000. Institutional investors own 97.29% of the company’s stock.

Minerals Technologies Company Profile

Minerals Technologies Inc develops, produces and processes a broad range of mineral-based products and solutions that serve a variety of industrial applications. Its offerings include bentonite, perlite, precipitated calcium carbonate (PCC), mineral sands, foundry additives, performance minerals and specialty chemicals designed to enhance performance in markets such as paper, steel, construction, oil and gas, environmental remediation and consumer products.

The company operates through several business segments, including Specialty Minerals, Refractory Minerals, Performance Materials and Recycled Materials.