Minerals Technologies Inc. (NYSE:MTX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
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 Minerals Technologies (NYSE:MTX) opened at 67.84 on Wednesday. Minerals Technologies has a 52 week low of $35.89 and a 52 week high of $72.54. The company’s 50 day moving average price is $68.57 and its 200-day moving average price is $62.64. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of 23.47 and a beta of 1.83.
Minerals Technologies (NYSE:MTX) last released its quarterly earnings results on Thursday, August 4th. The company reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.04. The company earned $427 million during the quarter, compared to analysts’ expectations of $437.20 million. Minerals Technologies had a return on equity of 15.64% and a net margin of 5.89%. Minerals Technologies’s quarterly revenue was down 7.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.18 EPS. Analysts anticipate that Minerals Technologies will post $4.48 earnings per share for the current fiscal year.
In other Minerals Technologies news, VP Michael Cipolla sold 8,267 shares of the business’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $69.21, for a total transaction of $572,159.07. Following the completion of the sale, the vice president now directly owns 27,181 shares in the company, valued at approximately $1,881,197.01. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Douglas T. Dietrich sold 11,080 shares of the business’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $69.21, for a total value of $766,846.80. Following the sale, the chief financial officer now owns 46,779 shares of the company’s stock, valued at $3,237,574.59. The disclosure for this sale can be found here. Company insiders own 3.70% of the company’s stock.
A number of large investors have recently bought and sold shares of MTX. Oregon Public Employees Retirement Fund raised its stake in Minerals Technologies by 4.3% in the third quarter. Oregon Public Employees Retirement Fund now owns 12,046 shares of the company’s stock valued at $852,000 after buying an additional 492 shares during the period. Eqis Capital Management Inc. purchased a new stake in Minerals Technologies during the third quarter valued at approximately $779,000. Beacon Financial Group purchased a new stake in Minerals Technologies during the third quarter valued at approximately $328,000. Macquarie Group Ltd. raised its stake in Minerals Technologies by 19.0% in the second quarter. Macquarie Group Ltd. now owns 418,107 shares of the company’s stock valued at $23,748,000 after buying an additional 66,700 shares during the period. Finally, Mason Street Advisors LLC purchased a new stake in Minerals Technologies during the second quarter valued at approximately $902,000. Institutional investors own 95.62% of the company’s stock.
Minerals Technologies Company Profile
Minerals Technologies Inc is a resource-and technology-based company that develops, produces and markets worldwide a range of specialty mineral, mineral-based and synthetic mineral products and related systems and services. It has five segments. The Specialty Minerals, Performance Materials, and Construction Technologies segments produce and sell products and technologies based primarily upon the mineral products calcium carbonate, bentonite, talc, chromite and leonardite.
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