Truist Financial Lowers Minerals Technologies (NYSE:MTX) Price Target to $101.00

Minerals Technologies (NYSE:MTX - Get Free Report) had its price target reduced by equities researchers at Truist Financial from $103.00 to $101.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the basic materials company's stock. Truist Financial's price target suggests a potential upside of 39.48% from the stock's previous close.

Separately, StockNews.com raised shares of Minerals Technologies from a "hold" rating to a "buy" rating in a research note on Thursday.

Minerals Technologies Stock Performance

Minerals Technologies stock traded down $1.46 during midday trading on Monday, reaching $72.41. 231,819 shares of the stock traded hands, compared to its average volume of 153,405. Minerals Technologies has a fifty-two week low of $68.29 and a fifty-two week high of $90.29. The company has a current ratio of 2.46, a quick ratio of 1.72 and a debt-to-equity ratio of 0.51. The firm has a market cap of $2.31 billion, a price-to-earnings ratio of 13.98 and a beta of 1.30. The firm has a fifty day moving average price of $76.79 and a two-hundred day moving average price of $76.61.

Minerals Technologies (NYSE:MTX - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The basic materials company reported $1.50 earnings per share (EPS) for the quarter, topping 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%. On average, equities research analysts forecast that Minerals Technologies will post 6.81 earnings per share for the current year.

Institutional Trading of Minerals Technologies

Institutional investors and hedge funds have recently modified their holdings of the company. Cibc World Markets Corp acquired a new stake in Minerals Technologies in the 4th quarter worth $226,000. Brandes Investment Partners LP acquired a new stake in shares of Minerals Technologies during the fourth quarter worth approximately $3,648,000. Picton Mahoney Asset Management raised its stake in shares of Minerals Technologies by 1,347.0% in the fourth quarter. Picton Mahoney Asset Management now owns 7,105 shares of the basic materials company's stock worth $542,000 after acquiring an additional 6,614 shares during the last quarter. Vestcor Inc bought a new position in shares of Minerals Technologies in the 4th quarter valued at about $185,000. Finally, Swiss National Bank raised its position in shares of Minerals Technologies by 0.6% during the 4th quarter. Swiss National Bank now owns 63,300 shares of the basic materials company's stock valued at $4,824,000 after acquiring an additional 400 shares during the last quarter. 97.29% of the stock is currently owned by institutional investors and hedge funds.

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.