Minerals Technologies (NYSE:MTX) Downgraded to Buy Rating by Wall Street Zen

Key Points

• Minerals Technologies has been downgraded from a "strong-buy" to a "buy" rating by Wall Street Zen.
• Truist Financial raised its price target for the stock from $80.00 to $84.00, aligning with the average price target currently.
• The company reported earnings of $1.50 EPS on a revenue of $557 million for the last quarter, with a projected EPS of 6.62 for the current fiscal year.

Minerals Technologies (NYSE:MTX - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a report issued on Saturday.

A number of other research firms have also recently weighed in on MTX. Weiss Ratings reissued a "sell (d+)" rating on shares of Minerals Technologies in a report on Wednesday, October 8th. Truist Financial boosted their price target on Minerals Technologies from $80.00 to $84.00 and gave the stock a "buy" rating in a report on Monday, July 28th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Minerals Technologies presently has an average rating of "Hold" and an average price target of $84.00.

Minerals Technologies Stock Down 0.4%

MTX opened at $59.32 on Friday. The business's fifty day moving average is $62.23 and its two-hundred day moving average is $58.82. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.35 and a current ratio of 1.95. The company has a market cap of $1.86 billion, a price-to-earnings ratio of 988.86 and a beta of 1.23. Minerals Technologies has a one year low of $49.54 and a one year high of $86.49.

Minerals Technologies (NYSE:MTX - Get Free Report) last posted its earnings results on Wednesday, March 15th. The basic materials company reported $1.50 EPS for the quarter. The company had revenue of $557.00 million for the quarter. Minerals Technologies had a return on equity of 10.64% and a net margin of 0.10%. Analysts anticipate that Minerals Technologies will post 6.62 EPS for the current fiscal year.

Hedge Funds Weigh In On Minerals Technologies

Several institutional investors have recently added to or reduced their stakes in the business. CWM LLC increased its stake in Minerals Technologies by 64.5% in the third quarter. CWM LLC now owns 10,752 shares of the basic materials company's stock valued at $668,000 after purchasing an additional 4,215 shares during the last quarter. Inspire Investing LLC increased its stake in Minerals Technologies by 6.8% during the third quarter. Inspire Investing LLC now owns 8,955 shares of the basic materials company's stock worth $556,000 after acquiring an additional 574 shares during the last quarter. Harbor Capital Advisors Inc. increased its stake in Minerals Technologies by 22.6% during the third quarter. Harbor Capital Advisors Inc. now owns 11,644 shares of the basic materials company's stock worth $723,000 after acquiring an additional 2,145 shares during the last quarter. ARS Investment Partners LLC acquired a new stake in Minerals Technologies during the third quarter worth about $205,000. Finally, Wedge Capital Management L L P NC increased its stake in Minerals Technologies by 7.6% during the third quarter. Wedge Capital Management L L P NC now owns 22,373 shares of the basic materials company's stock worth $1,390,000 after acquiring an additional 1,573 shares during the last quarter. 97.29% of the stock is currently owned by institutional investors and hedge funds.

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.

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