Minerals Technologies (NYSE:MTX) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Thursday.

MTX has been the subject of a number of other reports. KeyCorp restated a “hold” rating on shares of Minerals Technologies in a research report on Monday, November 6th. Zacks Investment Research upgraded Minerals Technologies from a “sell” rating to a “hold” rating in a report on Friday, September 15th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $80.00.

Minerals Technologies (NYSE MTX) traded up $0.90 during trading hours on Thursday, reaching $70.60. The company’s stock had a trading volume of 144,238 shares, compared to its average volume of 155,167. The company has a current ratio of 2.66, a quick ratio of 1.98 and a debt-to-equity ratio of 0.82. The stock has a market cap of $2,459.77, a price-to-earnings ratio of 16.08 and a beta of 2.26. Minerals Technologies has a 52 week low of $62.55 and a 52 week high of $83.85.

Minerals Technologies (NYSE:MTX) last posted its quarterly earnings results on Thursday, November 2nd. The basic materials company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.02. The business had revenue of $424.40 million during the quarter, compared to analyst estimates of $404.80 million. Minerals Technologies had a return on equity of 14.59% and a net margin of 9.48%. The business’s revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.17 earnings per share. analysts anticipate that Minerals Technologies will post 4.57 earnings per share for the current year.

Minerals Technologies declared that its board has approved a share repurchase plan on Thursday, September 21st that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the basic materials company to repurchase up to 6.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

A number of large investors have recently added to or reduced their stakes in MTX. Schwab Charles Investment Management Inc. lifted its stake in Minerals Technologies by 2.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 197,748 shares of the basic materials company’s stock worth $14,476,000 after purchasing an additional 4,180 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Minerals Technologies by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 417,439 shares of the basic materials company’s stock worth $30,557,000 after purchasing an additional 1,678 shares in the last quarter. Legal & General Group Plc lifted its stake in Minerals Technologies by 20.4% during the second quarter. Legal & General Group Plc now owns 26,986 shares of the basic materials company’s stock worth $1,975,000 after purchasing an additional 4,566 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Minerals Technologies by 17.6% during the second quarter. Victory Capital Management Inc. now owns 2,054 shares of the basic materials company’s stock worth $150,000 after purchasing an additional 307 shares in the last quarter. Finally, Prudential Financial Inc. lifted its stake in Minerals Technologies by 15.3% during the second quarter. Prudential Financial Inc. now owns 63,846 shares of the basic materials company’s stock worth $4,673,000 after purchasing an additional 8,490 shares in the last quarter. Institutional investors own 94.16% of the company’s stock.

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Minerals Technologies Company Profile

Minerals Technologies Inc is a resource- and technology-based company that develops, produces and markets a range of specialty mineral, mineral-based and synthetic mineral products and related systems and services around the world. It operates through four segments. The Specialty Minerals segment produces and sells the synthetic mineral product precipitated calcium carbonate (PCC), mines mineral ores, and processes and sells natural mineral products, primarily limestone and talc.

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