Minerals Technologies (NYSE:MTX) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Minerals Technologies (NYSE:MTX) from a buy rating to a hold rating in a research report released on Wednesday morning.

Minerals Technologies Stock Performance

MTX opened at $75.54 on Wednesday. The stock has a market cap of $2.41 billion, a price-to-earnings ratio of 16.00 and a beta of 1.30. The company has a quick ratio of 1.72, a current ratio of 2.46 and a debt-to-equity ratio of 0.51. Minerals Technologies has a 12-month low of $55.12 and a 12-month high of $90.29. The business has a 50 day moving average of $75.34 and a 200-day moving average of $78.33.

Minerals Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend is Thursday, October 31st. This is a positive change from Minerals Technologies’s previous quarterly dividend of $0.10. Minerals Technologies’s dividend payout ratio (DPR) is 9.32%.

Institutional Investors Weigh In On Minerals Technologies

Large investors have recently modified their holdings of the business. Texas Permanent School Fund Corp boosted its holdings in shares of Minerals Technologies by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 28,482 shares of the basic materials company’s stock valued at $2,144,000 after acquiring an additional 368 shares in the last quarter. Diversified Trust Co boosted its holdings in shares of Minerals Technologies by 4.0% during the 3rd quarter. Diversified Trust Co now owns 10,933 shares of the basic materials company’s stock valued at $844,000 after acquiring an additional 419 shares in the last quarter. ProShare Advisors LLC boosted its holdings in shares of Minerals Technologies by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 6,563 shares of the basic materials company’s stock valued at $494,000 after acquiring an additional 452 shares in the last quarter. Summit Global Investments boosted its holdings in shares of Minerals Technologies by 2.6% during the 2nd quarter. Summit Global Investments now owns 18,799 shares of the basic materials company’s stock valued at $1,563,000 after acquiring an additional 480 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Minerals Technologies by 3.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,522 shares of the basic materials company’s stock valued at $1,457,000 after acquiring an additional 526 shares in the last quarter. Institutional investors and hedge funds own 97.29% of the company’s stock.

Minerals Technologies Company Profile

Minerals Technologies Inc develops, produces, and markets various mineral, mineral-based, and related systems and services. The company operates through two segments, Consumer & Specialties, and Engineered Solutions segments. The Consumer & Specialties segment offers household and personal care products, such as pet litter, personal care, fabric care, edible oil and other fluid purification, animal health, and agricultural products; and specialty additives products, including precipitated calcium carbonate and ground calcium carbonate products that are used in the paper, paperboard, and fiber based packaging industries, as well as automotive, construction, and table and food applications.