Minerals Technologies (NYSE:MTX) Raised to Buy at StockNews.com

Minerals Technologies (NYSE:MTX) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday.

Separately, Truist Financial cut their target price on shares of Minerals Technologies from $103.00 to $101.00 and set a “buy” rating on the stock in a report on Monday, February 10th.

Minerals Technologies Stock Up 1.0 %

Shares of Minerals Technologies stock traded up $0.64 during trading hours on Tuesday, hitting $67.29. 210,986 shares of the company’s stock traded hands, compared to its average volume of 177,384. The stock has a 50 day simple moving average of $73.04 and a 200-day simple moving average of $75.87. The company has a quick ratio of 1.98, a current ratio of 2.84 and a debt-to-equity ratio of 0.54. The company has a market cap of $2.15 billion, a PE ratio of 12.99 and a beta of 1.28. Minerals Technologies has a twelve month low of $66.19 and a twelve month high of $90.29.

Minerals Technologies (NYSE:MTX) last posted its quarterly earnings results on Thursday, February 6th. The basic materials company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.11. Minerals Technologies had a return on equity of 11.49% and a net margin of 7.89%. Equities research analysts anticipate that Minerals Technologies will post 6.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MTX. Jefferies Financial Group Inc. purchased a new position in Minerals Technologies during the 4th quarter worth approximately $3,078,000. Mackenzie Financial Corp purchased a new position in shares of Minerals Technologies during the 4th quarter valued at $298,000. PharVision Advisers LLC purchased a new position in shares of Minerals Technologies during the 4th quarter valued at $236,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Minerals Technologies by 17.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 100,681 shares of the basic materials company’s stock valued at $7,673,000 after purchasing an additional 14,820 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its stake in shares of Minerals Technologies by 6.7% in the 4th quarter. Two Sigma Advisers LP now owns 30,300 shares of the basic materials company’s stock valued at $2,309,000 after purchasing an additional 1,900 shares during the last quarter. Institutional investors and hedge funds own 97.29% of the company’s stock.

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.