Minerals Technologies (MTX) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Minerals Technologies (NYSE:MTX) from a hold rating to a sell rating in a research note published on Saturday morning.

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. “

Shares of MTX stock opened at $59.89 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.29 and a quick ratio of 1.67. The stock has a market capitalization of $2.11 billion, a P/E ratio of 12.37, a PEG ratio of 1.40 and a beta of 1.93. Minerals Technologies has a 12 month low of $47.07 and a 12 month high of $80.80.

Minerals Technologies (NYSE:MTX) last announced its quarterly earnings data on Thursday, January 31st. The basic materials company reported $1.17 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.17. The firm had revenue of $447.50 million during the quarter, compared to analyst estimates of $452.04 million. Minerals Technologies had a return on equity of 12.82% and a net margin of 9.45%. Equities analysts anticipate that Minerals Technologies will post 5 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Friday, February 15th were given a dividend of $0.05 per share. The ex-dividend date was Thursday, February 14th. This represents a $0.20 annualized dividend and a dividend yield of 0.33%. Minerals Technologies’s payout ratio is currently 4.13%.

In other news, insider Dj Monagle III sold 17,454 shares of the business’s stock in a transaction dated Wednesday, December 19th. The stock was sold at an average price of $49.85, for a total transaction of $870,081.90. Following the completion of the transaction, the insider now directly owns 63,057 shares in the company, valued at approximately $3,143,391.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.40% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the company. Quantamental Technologies LLC acquired a new position in shares of Minerals Technologies during the 4th quarter worth about $87,000. Quantbot Technologies LP grew its position in shares of Minerals Technologies by 118.9% during the 3rd quarter. Quantbot Technologies LP now owns 2,704 shares of the basic materials company’s stock worth $182,000 after buying an additional 1,469 shares during the period. Rowland & Co. Investment Counsel ADV grew its position in shares of Minerals Technologies by 7.1% during the 4th quarter. Rowland & Co. Investment Counsel ADV now owns 4,015 shares of the basic materials company’s stock worth $206,000 after buying an additional 265 shares during the period. Jane Street Group LLC acquired a new position in shares of Minerals Technologies during the 3rd quarter worth about $211,000. Finally, Ramsey Quantitative Systems acquired a new position in shares of Minerals Technologies during the 4th quarter worth about $219,000. Institutional investors own 94.17% of the company’s stock.

About Minerals Technologies

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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