Truist Financial Has Lowered Expectations for Minerals Technologies (NYSE:MTX) Stock Price

Minerals Technologies (NYSE:MTX) had its price objective dropped by equities researchers at Truist Financial from $103.00 to $101.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the basic materials company’s stock. Truist Financial’s price target would indicate a potential upside of 37.27% from the company’s current price.

Separately, StockNews.com raised Minerals Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th.

Minerals Technologies Price Performance

Shares of Minerals Technologies stock opened at $73.58 on Monday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.72 and a current ratio of 2.46. Minerals Technologies has a 52-week low of $68.29 and a 52-week high of $90.29. The company has a fifty day moving average of $76.58 and a 200-day moving average of $76.50. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of 14.20 and a beta of 1.30.

Minerals Technologies (NYSE:MTX) last posted its quarterly earnings results on Thursday, February 6th. The basic materials company reported $1.50 earnings per share (EPS) 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 11.61%. Equities research analysts expect that Minerals Technologies will post 6.81 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. State Street Corp grew its position in shares of 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 worth $97,989,000 after buying an additional 32,196 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Minerals Technologies by 9.7% in the third 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. increased its position in Minerals Technologies by 21.1% during the 3rd quarter. Franklin Resources Inc. now owns 47,847 shares of the basic materials company’s stock valued at $3,728,000 after purchasing an additional 8,335 shares during the period. Thrivent Financial for Lutherans raised its holdings in Minerals Technologies by 42.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 64,110 shares of the basic materials company’s stock worth $4,951,000 after purchasing an additional 19,037 shares in the last quarter. Finally, Verition Fund Management LLC raised its holdings in Minerals Technologies by 161.2% in the 3rd quarter. Verition Fund Management LLC now owns 10,332 shares of the basic materials company’s stock worth $798,000 after purchasing an additional 6,377 shares in 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.