Minerals Technologies (NYSE:MTX) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Minerals Technologies (NYSE:MTX) from a hold rating to a buy rating in a report published on Thursday morning.

Separately, Truist Financial began coverage on shares of Minerals Technologies in a research report on Tuesday, January 28th. They set a “buy” rating and a $103.00 target price for the company.

Minerals Technologies Stock Performance

MTX opened at $76.06 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.46 and a quick ratio of 1.72. The company has a 50 day simple moving average of $77.05 and a two-hundred day simple moving average of $76.88. Minerals Technologies has a 1-year low of $67.92 and a 1-year high of $90.29. The firm has a market cap of $2.43 billion, a P/E ratio of 16.12 and a beta of 1.30.

Minerals Technologies (NYSE:MTX) last issued its earnings results on Thursday, February 6th. The basic materials company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.11. Minerals Technologies had a net margin of 7.20% and a return on equity of 11.27%. Equities analysts forecast that Minerals Technologies will post 6.05 earnings per share for the current fiscal year.

Minerals Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend is Friday, February 14th. Minerals Technologies’s payout ratio is 9.32%.

Institutional Investors Weigh In On Minerals Technologies

A number of hedge funds have recently bought and sold shares of MTX. The Manufacturers Life Insurance Company raised its stake in Minerals Technologies by 3.1% during the second quarter. The Manufacturers Life Insurance Company now owns 17,522 shares of the basic materials company’s stock valued at $1,457,000 after purchasing an additional 526 shares in the last quarter. Truist Financial Corp purchased a new stake in shares of Minerals Technologies in the second quarter valued at $274,000. Handelsbanken Fonder AB raised its stake in shares of Minerals Technologies by 10.5% in the third quarter. Handelsbanken Fonder AB now owns 7,337 shares of the basic materials company’s stock valued at $567,000 after acquiring an additional 700 shares during the period. Diversified Trust Co raised its stake in shares of Minerals Technologies by 4.0% in the third quarter. Diversified Trust Co now owns 10,933 shares of the basic materials company’s stock valued at $844,000 after acquiring an additional 419 shares during the period. Finally, CWM LLC raised its stake in shares of Minerals Technologies by 40.6% in the third quarter. CWM LLC now owns 1,870 shares of the basic materials company’s stock valued at $144,000 after acquiring an additional 540 shares during the period. Hedge funds and other institutional investors own 97.29% of the company’s stock.

Minerals Technologies Company Profile

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.