Minerals Technologies (NYSE:MTX) Lowered to “Buy” Rating by Wall Street Zen

Minerals Technologies (NYSE:MTX) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report issued on Saturday.

Separately, Truist Financial upped their target price on Minerals Technologies from $80.00 to $84.00 and gave the stock a “buy” rating in a report on Monday, July 28th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $84.00.

Minerals Technologies Price Performance

Shares of MTX opened at $63.72 on Friday. Minerals Technologies has a 12-month low of $49.54 and a 12-month high of $86.49. The business has a 50-day simple moving average of $60.87 and a two-hundred day simple moving average of $59.73. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.57. The stock has a market cap of $2.00 billion, a PE ratio of 1,062.11 and a beta of 1.22.

Minerals Technologies (NYSE:MTX) last issued its earnings results on Thursday, July 24th. The basic materials company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.12. Minerals Technologies had a return on equity of 10.64% and a net margin of 0.10%.The business had revenue of $528.90 million during the quarter, compared to analysts’ expectations of $529.13 million. During the same quarter in the prior year, the firm earned $1.65 EPS. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. Analysts anticipate that Minerals Technologies will post 6.62 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Minerals Technologies

A number of hedge funds have recently added to or reduced their stakes in MTX. Bank of America Corp DE grew its position in shares of Minerals Technologies by 4.0% during the 4th quarter. Bank of America Corp DE now owns 434,789 shares of the basic materials company’s stock worth $33,135,000 after buying an additional 16,683 shares during the period. Balyasny Asset Management L.P. lifted its position 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 acquiring an additional 235 shares during the period. Lazard Asset Management LLC grew its holdings in Minerals Technologies by 42.6% in the fourth quarter. Lazard Asset Management LLC now owns 24,048 shares of the basic materials company’s stock worth $1,832,000 after purchasing an additional 7,180 shares during the period. ProShare Advisors LLC increased its stake in Minerals Technologies by 42.7% in the fourth quarter. ProShare Advisors LLC now owns 9,559 shares of the basic materials company’s stock valued at $728,000 after purchasing an additional 2,858 shares in the last quarter. Finally, Two Sigma Advisers LP increased its stake in Minerals Technologies by 6.7% in the fourth quarter. Two Sigma Advisers LP now owns 30,300 shares of the basic materials company’s stock valued at $2,309,000 after purchasing an additional 1,900 shares in the last quarter. 97.29% of the stock is currently 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.