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

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

Separately, Truist Financial began coverage on shares of Minerals Technologies in a research report on Tuesday, January 28th. They issued a “buy” rating and a $103.00 price objective for the company.

Minerals Technologies Price Performance

NYSE:MTX opened at $73.92 on Thursday. Minerals Technologies has a 52-week low of $67.92 and a 52-week high of $90.29. The company has a market cap of $2.36 billion, a P/E ratio of 15.66 and a beta of 1.30. 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’s 50-day simple moving average is $76.95 and its 200 day simple moving average is $76.87.

Minerals Technologies (NYSE:MTX) last posted its quarterly earnings results on Thursday, February 6th. The basic materials company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.11. Minerals Technologies had a return on equity of 11.27% and a net margin of 7.20%. As a group, sell-side analysts forecast that Minerals Technologies will post 6.05 EPS for the current fiscal year.

Institutional Investors Weigh In On Minerals Technologies

Several hedge funds have recently added to or reduced their stakes in MTX. FMR LLC raised its position in shares of Minerals Technologies by 64.2% in the third quarter. FMR LLC now owns 1,234,719 shares of the basic materials company’s stock valued at $95,357,000 after purchasing an additional 482,674 shares during the period. Raymond James Financial Inc. acquired a new position in Minerals Technologies in the 4th quarter valued at about $10,797,000. Barclays PLC raised its holdings in Minerals Technologies by 210.1% in the 3rd quarter. Barclays PLC now owns 111,526 shares of the basic materials company’s stock valued at $8,615,000 after acquiring an additional 75,565 shares during the period. Assenagon Asset Management S.A. lifted its position in Minerals Technologies by 78.5% during the third quarter. Assenagon Asset Management S.A. now owns 161,440 shares of the basic materials company’s stock worth $12,468,000 after acquiring an additional 71,021 shares during the last quarter. Finally, Edgestream Partners L.P. bought a new stake in shares of Minerals Technologies during the third quarter worth approximately $4,049,000. 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.