Minerals Technologies (NYSE:MTX) Price Target Lowered to $92.00 at Truist Financial

Minerals Technologies (NYSE:MTX) had its target price trimmed by Truist Financial from $101.00 to $92.00 in a research report released on Monday,Benzinga reports. The firm currently has a buy rating on the basic materials company’s stock.

Separately, StockNews.com downgraded shares of Minerals Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, April 9th.

Minerals Technologies Price Performance

Shares of NYSE:MTX opened at $56.99 on Monday. The stock has a market capitalization of $1.81 billion, a P/E ratio of 11.00 and a beta of 1.25. The business has a 50-day moving average of $66.07 and a two-hundred day moving average of $73.71. Minerals Technologies has a fifty-two week low of $52.40 and a fifty-two week high of $90.30. 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 earnings results on Thursday, February 6th. The basic materials company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.11. Minerals Technologies had a return on equity of 11.49% and a net margin of 7.89%. On average, equities research analysts predict that Minerals Technologies will post 6.62 EPS for the current fiscal year.

Minerals Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 14th were given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.77%. The ex-dividend date was Friday, February 14th. Minerals Technologies’s dividend payout ratio is currently 8.49%.

Institutional Investors Weigh In On Minerals Technologies

Several hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. increased its holdings in shares of Minerals Technologies by 2.7% during the 4th quarter. Principal Financial Group Inc. now owns 166,647 shares of the basic materials company’s stock worth $12,700,000 after purchasing an additional 4,356 shares during the period. State Street Corp raised its holdings in Minerals Technologies by 2.6% in the 3rd quarter. State Street Corp now owns 1,268,792 shares of the basic materials company’s stock valued at $97,989,000 after acquiring an additional 32,196 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Minerals Technologies by 9.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 115,887 shares of the basic materials company’s stock valued at $8,950,000 after acquiring an additional 10,284 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Minerals Technologies by 21.1% in the 3rd quarter. Franklin Resources Inc. now owns 47,847 shares of the basic materials company’s stock worth $3,728,000 after acquiring an additional 8,335 shares during the period. Finally, Y Intercept Hong Kong Ltd grew its holdings in shares of Minerals Technologies by 74.4% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 17,264 shares of the basic materials company’s stock worth $1,316,000 after purchasing an additional 7,364 shares in the last quarter. 97.29% of the stock is owned by institutional investors.

Minerals Technologies Company Profile

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.