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

Zacks Investment Research lowered shares of Minerals Technologies (NYSE:MTX) from a hold rating to a sell rating in a report published on Tuesday, 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 also recently issued research reports about the stock. Gabelli reaffirmed a buy rating on shares of Minerals Technologies in a research note on Thursday, March 28th. TheStreet downgraded shares of Urban Outfitters from a b- rating to a c+ rating in a research note on Thursday, May 30th. JPMorgan Chase & Co. lowered their target price on shares of Whitbread from GBX 5,400 ($70.56) to GBX 5,100 ($66.64) and set an overweight rating for the company in a research note on Wednesday, May 1st. Finally, ValuEngine downgraded shares of Zumiez from a hold rating to a sell rating in a research note on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company’s stock. Minerals Technologies presently has an average rating of Hold and a consensus price target of $65.00.

Shares of MTX traded up $0.82 on Tuesday, reaching $51.39. 9,264 shares of the company’s stock were exchanged, compared to its average volume of 161,873. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.31 and a quick ratio of 1.66. The stock has a market cap of $1.82 billion, a PE ratio of 10.62, a P/E/G ratio of 1.62 and a beta of 1.87. The stock’s 50 day simple moving average is $54.54. Minerals Technologies has a 12 month low of $47.07 and a 12 month high of $80.80.

Minerals Technologies (NYSE:MTX) last posted its quarterly earnings results on Thursday, May 2nd. The basic materials company reported $1.11 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.11. Minerals Technologies had a net margin of 9.37% and a return on equity of 12.52%. The business had revenue of $437.70 million during the quarter, compared to the consensus estimate of $447.65 million. During the same period in the previous year, the firm posted $1.12 earnings per share. Minerals Technologies’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, equities analysts forecast that Minerals Technologies will post 4.82 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.39%. The ex-dividend date was Wednesday, May 29th. Minerals Technologies’s payout ratio is presently 4.13%.

Large investors have recently modified their holdings of the business. Norges Bank bought a new stake in shares of Minerals Technologies during the fourth quarter worth $22,597,000. BlackRock Inc. increased its position in shares of Minerals Technologies by 3.8% during the fourth quarter. BlackRock Inc. now owns 4,122,961 shares of the basic materials company’s stock worth $211,673,000 after acquiring an additional 152,414 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Minerals Technologies by 8.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,742,260 shares of the basic materials company’s stock worth $89,447,000 after acquiring an additional 131,643 shares in the last quarter. Chartwell Investment Partners LLC increased its position in shares of Minerals Technologies by 28.7% during the first quarter. Chartwell Investment Partners LLC now owns 268,534 shares of the basic materials company’s stock worth $15,787,000 after acquiring an additional 59,960 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Minerals Technologies by 4.8% during the first quarter. Victory Capital Management Inc. now owns 1,192,066 shares of the basic materials company’s stock worth $70,082,000 after acquiring an additional 54,062 shares in the last quarter. 94.06% of the stock is owned by hedge funds and other institutional investors.

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.

Further Reading: Buy Rating

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