StockNews.com Upgrades Minerals Technologies (NYSE:MTX) to “Buy”

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

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

Minerals Technologies Stock Performance

Shares of NYSE:MTX opened at $67.01 on Tuesday. Minerals Technologies has a twelve month low of $66.19 and a twelve month high of $90.29. The firm has a market cap of $2.14 billion, a PE ratio of 12.94 and a beta of 1.28. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.98 and a current ratio of 2.84. The business has a fifty day moving average of $72.86 and a 200-day moving average of $75.81.

Minerals Technologies (NYSE:MTX) last announced 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, equities research analysts predict that Minerals Technologies will post 6.62 EPS for the current fiscal year.

Hedge Funds Weigh In On Minerals Technologies

A number of institutional investors have recently bought and sold shares of MTX. Smartleaf Asset Management LLC grew its stake in 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 buying an additional 326 shares during the last quarter. Quarry LP raised its position in Minerals Technologies by 536.5% during the fourth quarter. Quarry LP now owns 732 shares of the basic materials company’s stock valued at $56,000 after purchasing an additional 617 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Minerals Technologies by 21.4% during the 4th quarter. Blue Trust Inc. now owns 1,009 shares of the basic materials company’s stock worth $78,000 after buying an additional 178 shares during the last quarter. Venturi Wealth Management LLC bought a new position in shares of Minerals Technologies in the fourth quarter worth about $78,000. Finally, KBC Group NV lifted its stake in Minerals Technologies by 43.9% in the 4th quarter. KBC Group NV now owns 1,478 shares of the basic materials company’s stock valued at $113,000 after purchasing an additional 451 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.