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

Zacks Investment Research cut shares of Minerals Technologies (NYSE:MTX) from a hold rating to a sell rating in a research note 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. “

A number of other brokerages have also recently issued reports on MTX. JPMorgan Chase & Co. decreased their price objective on shares of Whitbread from GBX 5,400 ($70.56) to GBX 5,100 ($66.64) and set an overweight rating on the stock in a research note on Wednesday, May 1st. Gabelli reissued a buy rating on shares of Minerals Technologies in a research note on Thursday, March 28th. ValuEngine cut shares of Zumiez from a hold rating to a sell rating in a research note on Tuesday, July 2nd. Finally, TheStreet cut shares of Urban Outfitters from a b- rating to a c+ rating in a research note on Thursday, May 30th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $65.00.

Shares of NYSE:MTX opened at $51.92 on Tuesday. The company has a 50 day moving average price of $54.50. The company has a market capitalization of $1.83 billion, a PE ratio of 10.73, a price-to-earnings-growth ratio of 1.59 and a beta of 1.87. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.31 and a quick ratio of 1.66. Minerals Technologies has a 1 year low of $47.07 and a 1 year high of $80.80.

Minerals Technologies (NYSE:MTX) last announced its quarterly earnings data on Thursday, May 2nd. The basic materials company reported $1.11 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.11. The business had revenue of $437.70 million for the quarter, compared to analysts’ expectations of $447.65 million. Minerals Technologies had a net margin of 9.37% and a return on equity of 12.52%. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period last year, the firm posted $1.12 earnings per share. As a group, sell-side analysts predict that Minerals Technologies will post 4.82 EPS for the current fiscal year.

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

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Quantamental Technologies LLC grew its stake in shares of Minerals Technologies by 11.8% in the first quarter. Quantamental Technologies LLC now owns 1,895 shares of the basic materials company’s stock worth $111,000 after purchasing an additional 200 shares during the last quarter. Starr International Co. Inc. bought a new stake in shares of Minerals Technologies in the first quarter worth $147,000. Valley National Advisers Inc. grew its stake in shares of Minerals Technologies by 19.9% in the first quarter. Valley National Advisers Inc. now owns 3,292 shares of the basic materials company’s stock worth $194,000 after purchasing an additional 546 shares during the last quarter. Magnus Financial Group LLC bought a new stake in shares of Minerals Technologies in the first quarter worth $205,000. Finally, Stevens Capital Management LP bought a new stake in shares of Minerals Technologies in the first quarter worth $215,000. 94.06% of the stock is currently 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.

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