Wall Street Zen Upgrades Minerals Technologies (NYSE:MTX) to Strong-Buy

Minerals Technologies (NYSE:MTX) was upgraded by Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday.

A number of other research firms have also recently weighed in on MTX. Seaport Research Partners reissued a “buy” rating on shares of Minerals Technologies in a research report on Monday, May 4th. Truist Financial lifted their target price on Minerals Technologies from $89.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Finally, Weiss Ratings upgraded Minerals Technologies from a “sell (d+)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $90.00.

Minerals Technologies Trading Down 0.2%

NYSE MTX opened at $74.30 on Friday. The company’s fifty day simple moving average is $76.68 and its 200-day simple moving average is $71.15. Minerals Technologies has a 52 week low of $53.94 and a 52 week high of $84.34. The company has a current ratio of 2.13, a quick ratio of 1.47 and a debt-to-equity ratio of 0.54. The stock has a market cap of $2.30 billion, a P/E ratio of 14.37 and a beta of 1.15.

Minerals Technologies (NYSE:MTX) last announced its earnings results on Thursday, April 30th. The basic materials company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.12. The business had revenue of $546.90 million during the quarter, compared to the consensus estimate of $516.39 million. Minerals Technologies had a net margin of 7.60% and a return on equity of 10.40%. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.14 earnings per share. Equities research analysts predict that Minerals Technologies will post 6.33 EPS for the current fiscal year.

Insider Transactions at Minerals Technologies

In related news, VP Timothy Jordan sold 6,000 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $80.27, for a total transaction of $481,620.00. Following the transaction, the vice president directly owned 1,279 shares in the company, valued at $102,665.33. This trade represents a 82.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.70% of the stock is owned by company insiders.

Institutional Trading of Minerals Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the business. Versant Capital Management Inc lifted its position in shares of Minerals Technologies by 87.3% in the 2nd quarter. Versant Capital Management Inc now owns 798 shares of the basic materials company’s stock worth $59,000 after buying an additional 372 shares during the last quarter. Parallel Advisors LLC grew its position in shares of Minerals Technologies by 36.0% during the 1st quarter. Parallel Advisors LLC now owns 552 shares of the basic materials company’s stock valued at $39,000 after buying an additional 146 shares during the last quarter. Edgestream Partners L.P. raised its stake in Minerals Technologies by 19.7% during the first quarter. Edgestream Partners L.P. now owns 47,845 shares of the basic materials company’s stock worth $3,393,000 after acquiring an additional 7,887 shares during the period. Amundi raised its stake in Minerals Technologies by 53.3% during the first quarter. Amundi now owns 11,780 shares of the basic materials company’s stock worth $835,000 after acquiring an additional 4,094 shares during the period. Finally, Quantinno Capital Management LP lifted its holdings in Minerals Technologies by 14.2% in the first quarter. Quantinno Capital Management LP now owns 17,295 shares of the basic materials company’s stock worth $1,227,000 after acquiring an additional 2,157 shares during the last quarter. 97.29% of the stock is owned by institutional investors and hedge funds.

About Minerals Technologies

Minerals Technologies Inc develops, produces and processes a broad range of mineral-based products and solutions that serve a variety of industrial applications. Its offerings include bentonite, perlite, precipitated calcium carbonate (PCC), mineral sands, foundry additives, performance minerals and specialty chemicals designed to enhance performance in markets such as paper, steel, construction, oil and gas, environmental remediation and consumer products.

The company operates through several business segments, including Specialty Minerals, Refractory Minerals, Performance Materials and Recycled Materials.