Minerals Technologies (NYSE:MTX) Downgraded by Wall Street Zen to Hold

Key Points

• Wall Street Zen downgraded Minerals Technologies from “strong buy” to “hold,” while analyst opinions remain mixed. MarketBeat reports a consensus “hold” rating and a $90.00 price target.
• MTX shares opened at $75.15, with a market capitalization of approximately $2.34 billion and a 52-week range of $53.94 to $84.34.
• The company’s latest quarterly results fell short of expectations, reporting $1.60 in earnings per share versus the $1.64 consensus estimate and revenue of $548.4 million versus $558.77 million expected, despite 3.7% year-over-year revenue growth.

Minerals Technologies (NYSE:MTX - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "strong-buy" rating to a "hold" rating in a research report issued on Saturday.

Other analysts have also issued reports about the company. Weiss Ratings cut Minerals Technologies from a "hold (c+)" rating to a "sell (d+)" rating in a report on Monday. Seaport Research Partners reaffirmed a "buy" rating on shares of Minerals Technologies in a research note on Monday, May 4th. Finally, Truist Financial lifted their price target on shares of Minerals Technologies from $89.00 to $90.00 and gave the stock a "buy" rating in a research report on Monday, May 4th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $90.00.

Minerals Technologies Stock Down 0.2%

NYSE:MTX opened at $75.15 on Friday. The company has a market cap of $2.34 billion, a price-to-earnings ratio of -34.63 and a beta of 1.14. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.00 and a current ratio of 1.43. The stock's fifty day moving average price is $75.40 and its two-hundred day moving average price is $73.06. Minerals Technologies has a 52-week low of $53.94 and a 52-week high of $84.34.

Minerals Technologies (NYSE:MTX - Get Free Report) last released its earnings results on Thursday, July 30th. The basic materials company reported $1.60 EPS for the quarter, missing the consensus estimate of $1.64 by ($0.04). Minerals Technologies had a negative net margin of 3.13% and a positive return on equity of 10.63%. The firm had revenue of $548.40 million during the quarter, compared to analyst estimates of $558.77 million. During the same period last year, the business posted $1.55 earnings per share. The firm's quarterly revenue was up 3.7% on a year-over-year basis. On average, analysts anticipate that Minerals Technologies will post 6.03 EPS for the current year.

Insider Activity at Minerals Technologies

In related news, VP Timothy Jordan sold 6,000 shares of Minerals Technologies stock in a transaction on Monday, May 11th. The stock was sold at an average price of $80.27, for a total transaction of $481,620.00. Following the completion of the sale, the vice president directly owned 1,279 shares of the company's stock, valued at $102,665.33. The trade was a 82.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Minerals Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MTX. BlackRock Inc. acquired a new position in Minerals Technologies during the second quarter valued at approximately $361,721,000. SG Capital Management LLC raised its holdings in Minerals Technologies by 137.1% in the fourth quarter. SG Capital Management LLC now owns 148,385 shares of the basic materials company's stock worth $9,044,000 after purchasing an additional 548,385 shares during the period. Bank of New York Mellon Corp acquired a new stake in Minerals Technologies in the second quarter worth $20,237,000. Caption Management LLC boosted its position in shares of Minerals Technologies by 102.7% during the fourth quarter. Caption Management LLC now owns 5,375 shares of the basic materials company's stock worth $328,000 after purchasing an additional 205,375 shares in the last quarter. Finally, Brandes Investment Partners LP boosted its position in shares of Minerals Technologies by 22.9% during the fourth quarter. Brandes Investment Partners LP now owns 819,908 shares of the basic materials company's stock worth $49,973,000 after purchasing an additional 152,950 shares in the last quarter. Institutional investors own 97.29% of the company's stock.

About Minerals Technologies

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.

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