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

Minerals Technologies (NYSE:MTX) had its target price decreased by Truist Financial from $103.00 to $101.00 in a research note released on Monday,Benzinga reports. Truist Financial currently has a buy rating on the basic materials company’s stock.

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

Minerals Technologies Price Performance

Shares of MTX stock opened at $73.15 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. The stock has a 50 day moving average price of $76.40 and a 200 day moving average price of $76.45. The firm has a market capitalization of $2.33 billion, a P/E ratio of 14.12 and a beta of 1.30. Minerals Technologies has a 52-week low of $68.29 and a 52-week high of $90.29.

Minerals Technologies (NYSE:MTX) last issued its earnings results on Thursday, February 6th. The basic materials company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.11. Minerals Technologies had a return on equity of 11.61% and a net margin of 7.89%. As a group, sell-side analysts predict that Minerals Technologies will post 6.81 earnings per share for the current year.

Minerals Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.60%. Minerals Technologies’s dividend payout ratio is presently 8.49%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Smartleaf Asset Management LLC increased its holdings in shares of Minerals Technologies by 181.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 506 shares of the basic materials company’s stock valued at $38,000 after acquiring an additional 326 shares during the period. Blue Trust Inc. increased its holdings in shares of Minerals Technologies by 2,418.2% in the 3rd quarter. Blue Trust Inc. now owns 831 shares of the basic materials company’s stock valued at $69,000 after acquiring an additional 798 shares during the period. Venturi Wealth Management LLC purchased a new position in Minerals Technologies during the 4th quarter worth $78,000. KBC Group NV grew its stake in Minerals Technologies by 43.9% during the 4th quarter. KBC Group NV now owns 1,478 shares of the basic materials company’s stock worth $113,000 after buying an additional 451 shares during the last quarter. Finally, CWM LLC grew its stake in Minerals Technologies by 40.6% during the 3rd quarter. CWM LLC now owns 1,870 shares of the basic materials company’s stock worth $144,000 after buying an additional 540 shares during the last quarter. 97.29% of the stock is currently 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.