Minerals Technologies (NYSE:MTX) Upgraded by Wall Street Zen to Strong-Buy Rating
by Sarita Garza · The Markets DailyWall Street Zen upgraded shares of Minerals Technologies (NYSE:MTX – Free Report) from a buy rating to a strong-buy rating in a report issued on Saturday morning.
Other research analysts have also issued reports about the company. Zacks Research raised Minerals Technologies from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 14th. Truist Financial raised their price objective on Minerals Technologies from $84.00 to $89.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Minerals Technologies in a research note on Monday, December 22nd. 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 company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $89.00.
Get Our Latest Stock Analysis on Minerals Technologies
Minerals Technologies Stock Performance
Shares of MTX stock opened at $69.29 on Friday. The firm has a market cap of $2.15 billion, a price-to-earnings ratio of -135.86 and a beta of 1.19. The company’s 50 day moving average is $69.87 and its 200 day moving average is $63.94. The company has a quick ratio of 1.45, a current ratio of 2.08 and a debt-to-equity ratio of 0.55. Minerals Technologies has a 52-week low of $49.54 and a 52-week high of $75.29.
Minerals Technologies (NYSE:MTX – Get Free Report) last posted its earnings results on Thursday, January 29th. The basic materials company reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.01). The company had revenue of $519.50 million for the quarter, compared to analysts’ expectations of $517.83 million. Minerals Technologies had a positive return on equity of 10.22% and a negative net margin of 0.89%.The firm’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.28 EPS. On average, sell-side analysts anticipate that Minerals Technologies will post 6.62 EPS for the current fiscal year.
Minerals Technologies Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Friday, February 13th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Friday, February 13th. Minerals Technologies’s payout ratio is presently -94.12%.
Hedge Funds Weigh In On Minerals Technologies
Several hedge funds have recently made changes to their positions in the company. First Horizon Corp acquired a new stake in Minerals Technologies during the 3rd quarter worth about $35,000. EverSource Wealth Advisors LLC increased its holdings in shares of Minerals Technologies by 626.8% in the second quarter. EverSource Wealth Advisors LLC now owns 596 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 514 shares during the period. Torren Management LLC acquired a new position in shares of Minerals Technologies in the fourth quarter valued at about $50,000. Danske Bank A S purchased a new position in shares of Minerals Technologies in the third quarter worth about $56,000. Finally, Strs Ohio purchased a new position in shares of Minerals Technologies in the first quarter worth about $70,000. 97.29% of the stock is owned by institutional investors and hedge funds.
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.