Minerals Technologies (NYSE:MTX) Given New $92.00 Price Target at Truist Financial

Minerals Technologies (NYSE:MTX - Get Free Report) had its target price cut by analysts at Truist Financial from $101.00 to $92.00 in a note issued to investors on Monday, Marketbeat Ratings reports. The brokerage presently has a "buy" rating on the basic materials company's stock. Truist Financial's price objective points to a potential upside of 62.16% from the company's current price.

Separately, StockNews.com lowered Minerals Technologies from a "buy" rating to a "hold" rating in a report on Wednesday, April 9th.

Minerals Technologies Stock Performance

MTX traded up $0.48 during trading on Monday, reaching $56.73. 217,214 shares of the company were exchanged, compared to its average volume of 172,264. The company has a current ratio of 2.84, a quick ratio of 1.98 and a debt-to-equity ratio of 0.54. The stock has a market cap of $1.81 billion, a P/E ratio of 10.95 and a beta of 1.25. Minerals Technologies has a 52 week low of $52.40 and a 52 week high of $90.30. The firm has a 50 day moving average of $64.68 and a 200 day moving average of $73.20.

Minerals Technologies (NYSE:MTX - Get Free Report) last issued 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%. On average, sell-side analysts forecast that Minerals Technologies will post 6.62 EPS for the current fiscal year.

Institutional Investors Weigh In On Minerals Technologies

Several hedge funds have recently bought and sold shares of MTX. Quantinno Capital Management LP lifted its stake in shares of Minerals Technologies by 9.6% in the 3rd quarter. Quantinno Capital Management LP now owns 4,178 shares of the basic materials company's stock valued at $323,000 after purchasing an additional 366 shares during the last quarter. State Street Corp grew its holdings in Minerals Technologies by 2.6% during the third quarter. State Street Corp now owns 1,268,792 shares of the basic materials company's stock valued at $97,989,000 after purchasing an additional 32,196 shares during the last quarter. Barclays PLC grew its holdings in Minerals Technologies by 210.1% during the third quarter. Barclays PLC now owns 111,526 shares of the basic materials company's stock valued at $8,615,000 after purchasing an additional 75,565 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Minerals Technologies by 3.8% in the third quarter. Geode Capital Management LLC now owns 865,343 shares of the basic materials company's stock valued at $66,841,000 after purchasing an additional 31,616 shares during the period. Finally, Tidal Investments LLC lifted its stake in shares of Minerals Technologies by 14.6% in the third quarter. Tidal Investments LLC now owns 7,454 shares of the basic materials company's stock worth $576,000 after buying an additional 948 shares during the last quarter. 97.29% of the stock is owned by hedge funds and other 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.