Minerals Technologies (NYSE:MTX) Raised to Buy at StockNews.com

Minerals Technologies (NYSE:MTX) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Tuesday.

Separately, Truist Financial cut their target price on shares of Minerals Technologies from $103.00 to $101.00 and set a “buy” rating on the stock in a report on Monday, February 10th.

Minerals Technologies Price Performance

Shares of MTX stock traded up $0.64 during trading hours on Tuesday, reaching $67.29. 210,986 shares of the company were exchanged, compared to its average volume of 177,384. Minerals Technologies has a fifty-two week low of $66.19 and a fifty-two week high of $90.29. The stock’s fifty day moving average is $73.04 and its two-hundred day moving average is $75.87. The company has a market cap of $2.15 billion, a price-to-earnings ratio of 12.99 and a beta of 1.28. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.84 and a quick ratio of 1.98.

Minerals Technologies (NYSE:MTX) last announced its quarterly earnings data 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 net margin of 7.89% and a return on equity of 11.49%. Sell-side analysts forecast that Minerals Technologies will post 6.62 earnings per share for the current fiscal year.

Institutional Trading of Minerals Technologies

Hedge funds have recently modified their holdings of the stock. Blair William & Co. IL increased its holdings in Minerals Technologies by 3.2% in the 4th quarter. Blair William & Co. IL now owns 5,657 shares of the basic materials company’s stock valued at $431,000 after buying an additional 177 shares during the period. Blue Trust Inc. grew its holdings in shares of Minerals Technologies by 21.4% during the 4th 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. Balyasny Asset Management L.P. grew its holdings in shares of Minerals Technologies by 4.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 5,312 shares of the basic materials company’s stock valued at $405,000 after purchasing an additional 235 shares during the last quarter. Savant Capital LLC grew its holdings in shares of Minerals Technologies by 7.4% during the 4th quarter. Savant Capital LLC now owns 3,783 shares of the basic materials company’s stock valued at $288,000 after purchasing an additional 260 shares during the last quarter. Finally, QRG Capital Management Inc. grew its holdings in shares of Minerals Technologies by 4.5% during the 4th quarter. QRG Capital Management Inc. now owns 6,481 shares of the basic materials company’s stock valued at $494,000 after purchasing an additional 280 shares during the last quarter. Institutional investors and hedge funds 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.