Minerals Technologies Inc. (MTX) Rating Reiterated by KeyCorp

KeyCorp reissued their hold rating on shares of Minerals Technologies Inc. (NYSE:MTX) in a research note published on Monday morning. KeyCorp also issued estimates for Minerals Technologies’ Q4 2017 earnings at $1.11 EPS.

Other equities analysts also recently issued reports about the company. ValuEngine downgraded Minerals Technologies from a buy rating to a hold rating in a report on Tuesday, July 25th. Zacks Investment Research upgraded Minerals Technologies from a sell rating to a hold rating in a report on Tuesday, July 11th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. Minerals Technologies currently has a consensus rating of Hold and an average price target of $80.00.

Minerals Technologies (NYSE MTX) opened at $71.90 on Monday. 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 company has a market capitalization of $2,565.87, a price-to-earnings ratio of 15.88 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 issued its quarterly earnings results on Thursday, November 2nd. The basic materials company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.02. Minerals Technologies had a return on equity of 14.59% and a net margin of 9.48%. The firm had revenue of $424.40 million during the quarter, compared to the consensus estimate of $404.80 million. During the same period last year, the company earned $1.17 earnings per share. The company’s revenue was up 6.2% on a year-over-year basis. equities research analysts forecast that Minerals Technologies will post 4.6 EPS for the current fiscal year.

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Minerals Technologies declared that its Board of Directors has authorized a stock repurchase plan on Thursday, September 21st that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the basic materials company to repurchase up to 6.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

In other news, insider Dj Monagle III sold 25,639 shares of the firm’s stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $70.03, for a total transaction of $1,795,499.17. Following the completion of the transaction, the insider now directly owns 39,579 shares in the company, valued at $2,771,717.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.20% of the stock is owned by company insiders.

Several large investors have recently modified their holdings of MTX. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Minerals Technologies by 9.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,471 shares of the basic materials company’s stock valued at $108,000 after acquiring an additional 125 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Minerals Technologies by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 2,054 shares of the basic materials company’s stock worth $150,000 after buying an additional 307 shares in the last quarter. Riverhead Capital Management LLC increased its holdings in Minerals Technologies by 69.0% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,197 shares of the basic materials company’s stock worth $161,000 after buying an additional 897 shares in the last quarter. Quantbot Technologies LP increased its holdings in Minerals Technologies by 93.0% in the 2nd quarter. Quantbot Technologies LP now owns 2,349 shares of the basic materials company’s stock worth $171,000 after buying an additional 1,132 shares in the last quarter. Finally, First Mercantile Trust Co. increased its holdings in Minerals Technologies by 1.7% in the 2nd quarter. First Mercantile Trust Co. now owns 2,420 shares of the basic materials company’s stock worth $177,000 after buying an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 93.94% of the company’s stock.

About Minerals Technologies

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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