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Zacks Investment Research Lowers Minerals Technologies (NYSE:MTX) to Sell – MarketBeat

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Minerals Technologies (NYSE:MTXGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday, 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 equities research analysts have also recently issued research reports about the stock. StockNews.com cut shares of Minerals Technologies from a “buy” rating to a “hold” rating in a research note on Monday, February 7th. CL King dropped their price target on shares of Minerals Technologies from $90.00 to $87.00 in a research note on Monday, February 7th. Finally, JPMorgan Chase & Co. raised shares of Minerals Technologies from a “neutral” rating to an “overweight” rating and lowered their target price for the stock from $80.00 to $75.00 in a research note on Monday, February 7th.(adsbygoogle = window.adsbygoogle || []).push({});
Minerals Technologies stock opened at $66.34 on Wednesday. The company has a fifty day moving average of $68.96. Minerals Technologies has a 1 year low of $62.24 and a 1 year high of $88.62. The firm has a market cap of $2.20 billion, a PE ratio of 13.68 and a beta of 1.39. The company has a quick ratio of 1.74, a current ratio of 2.45 and a debt-to-equity ratio of 0.59.
Minerals Technologies (NYSE:MTXGet Rating) last released its quarterly earnings results on Thursday, February 3rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.04. Minerals Technologies had a net margin of 8.84% and a return on equity of 11.00%. The firm had revenue of $476.90 million for the quarter, compared to analysts’ expectations of $497.88 million. During the same quarter last year, the company earned $1.08 EPS. On average, sell-side analysts predict that Minerals Technologies will post 5.73 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Macquarie Group Ltd. raised its holdings in shares of Minerals Technologies by 0.9% during the 3rd quarter. Macquarie Group Ltd. now owns 1,564,259 shares of the basic materials company’s stock worth $109,248,000 after acquiring an additional 13,724 shares during the period. Victory Capital Management Inc. raised its holdings in Minerals Technologies by 13.1% in the 3rd quarter. Victory Capital Management Inc. now owns 1,342,386 shares of the basic materials company’s stock valued at $93,752,000 after buying an additional 155,337 shares during the period. American Century Companies Inc. raised its holdings in Minerals Technologies by 6.6% in the 4th quarter. American Century Companies Inc. now owns 1,017,929 shares of the basic materials company’s stock valued at $74,462,000 after buying an additional 63,170 shares during the period. State Street Corp raised its holdings in Minerals Technologies by 0.4% in the 4th quarter. State Street Corp now owns 1,015,432 shares of the basic materials company’s stock valued at $74,279,000 after buying an additional 4,393 shares during the period. Finally, Eaton Vance Management raised its holdings in Minerals Technologies by 4.3% in the 4th quarter. Eaton Vance Management now owns 820,828 shares of the basic materials company’s stock valued at $60,016,000 after buying an additional 33,627 shares during the period. Institutional investors and hedge funds own 94.29% of the company’s stock.
About Minerals Technologies (Get Rating)
Minerals Technologies Inc develops, produces, and markets various specialty mineral, mineral-based, and synthetic mineral products, and supporting systems and services. The company operates through three segments: Performance Materials, Specialty Minerals and Refractories. The Performance Materials segment supplies bentonite and bentonite-related products, as well as leonardite.
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