Minerals Technologies (NYSE:MTX) Price Target Lowered to $101.00 at Truist Financial

Minerals Technologies (NYSE:MTX) had its price target reduced by equities research analysts at Truist Financial from $103.00 to $101.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the basic materials company’s stock. Truist Financial’s target price indicates a potential upside of 36.63% from the stock’s previous close.

Separately, StockNews.com raised shares of Minerals Technologies from a “hold” rating to a “buy” rating in a report on Thursday.

Minerals Technologies Stock Performance

Shares of MTX opened at $73.92 on Monday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.72 and a current ratio of 2.46. Minerals Technologies has a 1 year low of $67.92 and a 1 year high of $90.29. The firm has a fifty day moving average of $76.79 and a 200-day moving average of $76.69. The company has a market cap of $2.36 billion, a price-to-earnings ratio of 14.27 and a beta of 1.30.

Minerals Technologies (NYSE:MTX) last announced its earnings results on Thursday, February 6th. The basic materials company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.11. Minerals Technologies had a return on equity of 11.61% and a net margin of 7.89%. As a group, equities analysts anticipate that Minerals Technologies will post 6.81 earnings per share for the current year.

Hedge Funds Weigh In On Minerals Technologies

Hedge funds have recently modified their holdings of the stock. Blue Trust Inc. lifted its holdings in shares of Minerals Technologies by 21.4% during the fourth quarter. Blue Trust Inc. now owns 1,009 shares of the basic materials company’s stock valued at $78,000 after purchasing an additional 178 shares during the last quarter. Savant Capital LLC lifted its stake in Minerals Technologies by 7.4% during the fourth quarter. Savant Capital LLC now owns 3,783 shares of the basic materials company’s stock valued at $288,000 after buying an additional 260 shares in the last quarter. QRG Capital Management Inc. boosted its holdings in shares of Minerals Technologies by 4.5% in the fourth quarter. QRG Capital Management Inc. now owns 6,481 shares of the basic materials company’s stock worth $494,000 after buying an additional 280 shares during the period. Smartleaf Asset Management LLC increased its position in shares of Minerals Technologies by 181.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 506 shares of the basic materials company’s stock worth $38,000 after acquiring an additional 326 shares in the last quarter. Finally, Quantinno Capital Management LP raised its holdings in shares of Minerals Technologies by 9.6% during the third quarter. Quantinno Capital Management LP now owns 4,178 shares of the basic materials company’s stock valued at $323,000 after acquiring an additional 366 shares during the period. 97.29% of the stock is currently owned by institutional investors and hedge funds.

About Minerals Technologies

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.