Minerals Technologies (NYSE:MTX) Receives "Sell (D+)" Rating from Weiss Ratings

Key Points

• Weiss Ratings has reaffirmed a "sell (D+)" rating for Minerals Technologies (NYSE:MTX), indicating a negative outlook for the stock.
• Despite the negative rating from Weiss, other firms like Truist Financial and Wall Street Zen have given MTX a "buy" and "strong-buy" rating, with an average target price of $84.00.
• Minerals Technologies recently reported a quarterly earnings beat with $1.55 EPS, although it showed a revenue decline of 2.3% year-over-year.

Minerals Technologies (NYSE:MTX - Get Free Report)'s stock had its "sell (d+)" rating reaffirmed by equities research analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Several other research firms also recently weighed in on MTX. Truist Financial raised their target price on Minerals Technologies from $80.00 to $84.00 and gave the company a "buy" rating in a research report on Monday, July 28th. Wall Street Zen upgraded Minerals Technologies from a "buy" rating to a "strong-buy" rating in a research report on Friday, October 3rd. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Minerals Technologies has a consensus rating of "Hold" and an average target price of $84.00.

Minerals Technologies Price Performance

MTX traded down $0.09 during trading on Wednesday, hitting $60.75. The company's stock had a trading volume of 16,760 shares, compared to its average volume of 234,493. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.57. Minerals Technologies has a twelve month low of $49.54 and a twelve month high of $86.49. The business's fifty day simple moving average is $61.96 and its 200 day simple moving average is $59.07. The firm has a market capitalization of $1.91 billion, a price-to-earnings ratio of 1,012.67 and a beta of 1.23.

Minerals Technologies (NYSE:MTX - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.43 by $0.12. The company had revenue of $528.90 million for the quarter, compared to analyst estimates of $529.13 million. Minerals Technologies had a return on equity of 10.64% and a net margin of 0.10%.Minerals Technologies's quarterly revenue was down 2.3% compared to the same quarter last year. During the same period last year, the company earned $1.65 earnings per share. On average, equities research analysts forecast that Minerals Technologies will post 6.62 EPS for the current fiscal year.

Institutional Investors Weigh In On Minerals Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MTX. Nuveen LLC acquired a new stake in Minerals Technologies during the first quarter worth $33,177,000. Brandes Investment Partners LP increased its stake in Minerals Technologies by 436.3% during the second quarter. Brandes Investment Partners LP now owns 538,073 shares of the basic materials company's stock worth $29,632,000 after acquiring an additional 437,734 shares during the last quarter. Broad Bay Capital Management LP acquired a new stake in Minerals Technologies during the second quarter worth $16,926,000. American Century Companies Inc. increased its stake in Minerals Technologies by 20.3% during the second quarter. American Century Companies Inc. now owns 1,284,532 shares of the basic materials company's stock worth $70,739,000 after acquiring an additional 216,453 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in shares of Minerals Technologies by 26.5% in the second quarter. Ameriprise Financial Inc. now owns 496,215 shares of the basic materials company's stock valued at $27,327,000 after buying an additional 103,853 shares in the last quarter. Institutional investors and hedge funds own 97.29% of the company's stock.

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.

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