Minerals Technologies (NYSE:MTX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday.
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. “
MTX has been the subject of several other reports. KeyCorp reaffirmed a “hold” rating on shares of Minerals Technologies in a report on Monday, November 6th. ValuEngine raised shares of Minerals Technologies from a “hold” rating to a “buy” rating in a report on Thursday, January 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $80.00.
Minerals Technologies (NYSE:MTX) opened at $75.40 on Thursday. The firm has a market cap of $2,671.97, a price-to-earnings ratio of 17.18 and a beta of 2.26. The company has a current ratio of 2.66, a quick ratio of 1.98 and a debt-to-equity ratio of 0.82. Minerals Technologies has a fifty-two week low of $62.55 and a fifty-two week high of $83.85.
Minerals Technologies (NYSE:MTX) last posted its quarterly earnings results on Thursday, November 2nd. The basic materials company reported $1.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.02. Minerals Technologies had a net margin of 9.48% and a return on equity of 14.59%. The business had revenue of $424.40 million during the quarter, compared to analyst estimates of $404.80 million. During the same period in the previous year, the business posted $1.17 EPS. The company’s quarterly revenue was up 6.2% on a year-over-year basis. sell-side analysts predict that Minerals Technologies will post 4.57 earnings per share for the current year.
Minerals Technologies declared that its board has approved a stock buyback plan on Thursday, September 21st that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the basic materials company to repurchase up to 6.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its stock is undervalued.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Minerals Technologies by 9.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,471 shares of the basic materials company’s stock valued at $108,000 after buying an additional 125 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Minerals Technologies by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 2,054 shares of the basic materials company’s stock valued at $150,000 after buying an additional 307 shares during the period. Riverhead Capital Management LLC boosted its holdings in shares of Minerals Technologies by 69.0% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,197 shares of the basic materials company’s stock valued at $161,000 after buying an additional 897 shares during the period. Quantbot Technologies LP boosted its holdings in shares of Minerals Technologies by 93.0% in the 2nd quarter. Quantbot Technologies LP now owns 2,349 shares of the basic materials company’s stock valued at $171,000 after buying an additional 1,132 shares during the period. Finally, Boothbay Fund Management LLC acquired a new position in shares of Minerals Technologies in the 3rd quarter valued at about $218,000. 94.93% of the stock is owned by institutional investors and hedge funds.
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Minerals Technologies Company Profile
Minerals Technologies Inc is a resource- and technology-based company that develops, produces and markets a range of specialty mineral, mineral-based and synthetic mineral products and related systems and services around the world. It operates through four segments. The Specialty Minerals segment produces and sells the synthetic mineral product precipitated calcium carbonate (PCC), mines mineral ores, and processes and sells natural mineral products, primarily limestone and talc.
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