KeyBanc Downgrades Minerals Technologies Inc to Sector Weight

Brokerage firm KeyBanc Downgrades its rating on Minerals Technologies Inc(NYSE:MTX). The shares have been rated Sector Weight. Previously, the analysts had a Overweight rating on the shares. The rating by KeyBanc was issued on Sep 19, 2016.

Minerals Technologies Inc (MTX) made into the market gainers list on Thursdays trading session with the shares advancing 1.16% or 0.79 points. Due to strong positive momentum, the stock ended at $68.75, which is also near the day’s high of $69.76. The stock began the session at $68.15 and the volume stood at 2,03,989 shares. The 52-week high of the shares is $72.54 and the 52 week low is $35.89. The company has a current market capitalization of $2,395 M and it has 3,48,37,434 shares in outstanding.

Minerals Technologies Inc(MTX) last announced its earnings results on Aug 4, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $427.00M. Analysts had an estimated revenue of $437.20M. Earnings per share were $1.20. Analysts had estimated an EPS of $1.16.

Several Insider Transactions has been reported to the SEC. On Aug 31, 2016, Jonathan J Hastings (Senior Vice President) sold 7,606 shares at $70.85 per share price.Also, On Aug 24, 2016, Patrick Carpenter (Vice President) sold 3,648 shares at $70.77 per share price.On Aug 23, 2016, Dj Iii Monagle (Senior Vice President) sold 7,929 shares at $70.52 per share price, according to the Form-4 filing with the securities and exchange commission.

Minerals Technologies Inc. is a resource-based and technology-based company that develops produces and markets a range of specialty mineral mineral-based and synthetic mineral products and supporting systems and services. The Company operates through five segments: Specialty Minerals which produces and sells the synthetic mineral product precipitated calcium carbonate (PCC) and processed mineral product quicklime (lime); Refractories which produces and markets monolithic and shaped refractory materials and specialty products; Performance Materials which includes the supply of bentonite and bentonite-related products; Construction Technologies which provides products for non-residential construction environmental and infrastructure projects and Energy Services which offers a range of technologies products and services for all phases of oil and gas production refining and storage.

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