Truist Financial Issues Positive Forecast for Minerals Technologies (NYSE:MTX) Stock Price

Minerals Technologies (NYSE:MTX) had its price target hoisted by Truist Financial from $84.00 to $89.00 in a report released on Monday morning,Benzinga reports. Truist Financial currently has a buy rating on the basic materials company’s stock.

Several other equities analysts have also weighed in on MTX. Zacks Research upgraded shares of Minerals Technologies from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 14th. Wall Street Zen lowered Minerals Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 18th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Minerals Technologies in a research note on Monday, December 22nd. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Minerals Technologies currently has a consensus rating of “Hold” and an average price target of $89.00.

Minerals Technologies Stock Up 2.3%

Shares of NYSE:MTX opened at $67.28 on Monday. The stock has a 50-day simple moving average of $62.91 and a 200-day simple moving average of $61.23. The stock has a market capitalization of $2.09 billion, a P/E ratio of -131.92 and a beta of 1.27. Minerals Technologies has a 1 year low of $49.54 and a 1 year high of $76.96. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.45 and a current ratio of 2.08.

Minerals Technologies (NYSE:MTX) last posted its quarterly earnings results on Thursday, January 29th. The basic materials company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.01). Minerals Technologies had a negative net margin of 0.89% and a positive return on equity of 10.22%. The business had revenue of $519.50 million during the quarter, compared to analysts’ expectations of $517.83 million. During the same quarter in the previous year, the business posted $1.28 EPS. The company’s quarterly revenue was up .3% on a year-over-year basis. Equities analysts forecast that Minerals Technologies will post 6.62 earnings per share for the current year.

Minerals Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 13th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, February 13th. Minerals Technologies’s payout ratio is presently -94.12%.

Insider Activity

In other Minerals Technologies news, insider Dj Monagle III sold 23,093 shares of the company’s stock in a transaction that occurred on Monday, December 29th. The stock was sold at an average price of $61.90, for a total value of $1,429,456.70. Following the transaction, the insider directly owned 84,349 shares of the company’s stock, valued at $5,221,203.10. This represents a 21.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Brett Argirakis sold 6,501 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $58.68, for a total transaction of $381,478.68. Following the sale, the insider directly owned 27,602 shares of the company’s stock, valued at $1,619,685.36. The trade was a 19.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.50% of the company’s stock.

Institutional Trading of Minerals Technologies

Several institutional investors have recently added to or reduced their stakes in MTX. First Horizon Corp acquired a new position in Minerals Technologies during the 3rd quarter worth $35,000. First Horizon Advisors Inc. raised its stake in shares of Minerals Technologies by 161.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 590 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 364 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Minerals Technologies by 626.8% during the second quarter. EverSource Wealth Advisors LLC now owns 596 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 514 shares during the last quarter. Torren Management LLC acquired a new position in Minerals Technologies in the fourth quarter worth about $50,000. Finally, Danske Bank A S bought a new stake in Minerals Technologies in the third quarter valued at about $56,000. 97.29% of the stock is owned by institutional investors and hedge funds.

Minerals Technologies Company Profile

Minerals Technologies Inc develops, produces and processes a broad range of mineral-based products and solutions that serve a variety of industrial applications. Its offerings include bentonite, perlite, precipitated calcium carbonate (PCC), mineral sands, foundry additives, performance minerals and specialty chemicals designed to enhance performance in markets such as paper, steel, construction, oil and gas, environmental remediation and consumer products.

The company operates through several business segments, including Specialty Minerals, Refractory Minerals, Performance Materials and Recycled Materials.