Minerals Technologies (NYSE:MTX) Downgraded to “Sell” at Zacks Investment Research

Minerals Technologies (NYSE:MTX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Friday, Zacks.com reports.

According to Zacks, “Minerals Technologies Inc. is a resource- and technology-based company that develops, produces and markets worldwide a broad range of specialty mineral, mineral-based and synthetic mineral products and related systems and services. The Company has five reportable segments: Specialty Minerals, Refractories, Performance Materials, Construction Technologies and Energy Services. “

Other analysts have also recently issued reports about the company. Goldman Sachs Group reaffirmed a “neutral” rating and issued a $206.00 price target on shares of Minerals Technologies in a research note on Friday, October 25th. HSBC reaffirmed a “neutral” rating and issued a $253.00 price target on shares of Minerals Technologies in a research note on Monday, October 28th. UBS Group reaffirmed a “neutral” rating and issued a $243.00 price target on shares of Minerals Technologies in a research note on Friday, October 25th. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $260.00 price target on shares of Minerals Technologies in a research note on Friday, October 25th. Finally, ValuEngine raised Minerals Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, September 14th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $233.67.

Minerals Technologies stock traded up $2.21 during trading hours on Friday, reaching $56.97. 736,501 shares of the company’s stock traded hands, compared to its average volume of 167,360. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.62 and a current ratio of 2.24. Minerals Technologies has a fifty-two week low of $45.26 and a fifty-two week high of $63.75. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 3.73 and a beta of 1.81. The firm’s 50 day moving average is $52.15 and its 200-day moving average is $53.47.

Minerals Technologies (NYSE:MTX) last released its earnings results on Thursday, October 31st. The basic materials company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.05. Minerals Technologies had a net margin of 8.16% and a return on equity of 11.08%. The company had revenue of $449.30 million for the quarter, compared to the consensus estimate of $449.43 million. During the same period in the prior year, the company posted $1.27 EPS. The company’s revenue was down 3.2% compared to the same quarter last year. Analysts predict that Minerals Technologies will post 4.21 EPS for the current year.

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In related news, SVP Thomas J. Meek sold 7,502 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $45.90, for a total transaction of $344,341.80. Following the completion of the sale, the senior vice president now directly owns 65,752 shares of the company’s stock, valued at approximately $3,018,016.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Douglas T. Dietrich bought 1,500 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were acquired at an average cost of $47.99 per share, with a total value of $71,985.00. Following the completion of the purchase, the chief executive officer now owns 71,841 shares in the company, valued at approximately $3,447,649.59. The disclosure for this purchase can be found here. Corporate insiders own 2.50% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Campbell & CO Investment Adviser LLC increased its stake in Minerals Technologies by 60.1% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 12,462 shares of the basic materials company’s stock worth $662,000 after purchasing an additional 4,678 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Minerals Technologies by 3.0% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 317,030 shares of the basic materials company’s stock worth $16,965,000 after purchasing an additional 9,264 shares in the last quarter. Morgan Stanley increased its stake in Minerals Technologies by 279.1% during the 2nd quarter. Morgan Stanley now owns 199,943 shares of the basic materials company’s stock worth $10,699,000 after purchasing an additional 147,201 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Minerals Technologies by 1.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 462,063 shares of the basic materials company’s stock worth $24,725,000 after purchasing an additional 5,115 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in Minerals Technologies by 8.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 19,132 shares of the basic materials company’s stock worth $1,024,000 after purchasing an additional 1,542 shares in the last quarter. 93.99% of the stock is owned by institutional investors and hedge funds.

Minerals Technologies Company Profile

Minerals Technologies Inc develops, produces, and markets various specialty mineral, mineral-based, and synthetic mineral products, and supporting systems and services worldwide. The company's Specialty Minerals segment produces and sells precipitated calcium carbonate and quicklime; and provides natural mineral products comprising limestone and talc.

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