Truist Financial Begins Coverage on Minerals Technologies (NYSE:MTX)

Analysts at Truist Financial assumed coverage on shares of Minerals Technologies (NYSE:MTX) in a research note issued to investors on Tuesday, Marketbeat.com reports. The brokerage set a “buy” rating and a $103.00 price target on the basic materials company’s stock. Truist Financial’s target price would indicate a potential upside of 34.35% from the stock’s previous close.

Separately, StockNews.com lowered shares of Minerals Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th.

Minerals Technologies Stock Performance

MTX opened at $76.67 on Tuesday. The stock has a market cap of $2.44 billion, a P/E ratio of 16.24 and a beta of 1.31. The firm has a fifty day moving average price of $77.79 and a 200 day moving average price of $77.25. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.46 and a quick ratio of 1.72. Minerals Technologies has a 1 year low of $64.91 and a 1 year high of $90.29.

Institutional Investors Weigh In On Minerals Technologies

Large investors have recently modified their holdings of the business. FMR LLC boosted its position in shares of Minerals Technologies by 64.2% during the 3rd quarter. FMR LLC now owns 1,234,719 shares of the basic materials company’s stock valued at $95,357,000 after acquiring an additional 482,674 shares during the last quarter. Barclays PLC lifted its position in Minerals Technologies by 210.1% in the third quarter. Barclays PLC now owns 111,526 shares of the basic materials company’s stock valued at $8,615,000 after buying an additional 75,565 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Minerals Technologies by 78.5% in the third quarter. Assenagon Asset Management S.A. now owns 161,440 shares of the basic materials company’s stock valued at $12,468,000 after buying an additional 71,021 shares during the last quarter. Edgestream Partners L.P. acquired a new position in Minerals Technologies in the third quarter valued at about $4,049,000. Finally, State Street Corp lifted its position in Minerals Technologies by 2.6% in the third quarter. State Street Corp now owns 1,268,792 shares of the basic materials company’s stock valued at $97,989,000 after buying an additional 32,196 shares during the last quarter. Hedge funds and other institutional investors own 97.29% of the company’s stock.

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.