Minerals Technologies (NYSE:MTX) Hits New 52-Week High - Should You Buy?

Key Points

• 52-week high: Minerals Technologies hit a new 52-week intraday high of $80.99 and was last trading around $79.20, up from the prior close of $79.00.
• Mixed analyst stance: Analysts are split—Truist raised its target to $90 with a "buy," Wall Street Zen moved to "strong-buy" while Weiss kept a "sell," leaving a MarketBeat consensus rating of "Hold" and a $90 consensus target.
• Fundamentals beat: The company beat Q1 expectations with EPS of $1.38 (vs. $1.26 est.) and revenue of $546.9M (up 11.2% YoY), and trades with a market cap of $2.46B and a PE of 15.32.

Minerals Technologies Inc. (NYSE:MTX - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $80.99 and last traded at $79.2020, with a volume of 350946 shares. The stock had previously closed at $79.00.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on MTX shares. Truist Financial upped their target price on shares of Minerals Technologies from $89.00 to $90.00 and gave the stock a "buy" rating in a research note on Monday. Zacks Research raised shares of Minerals Technologies from a "strong sell" rating to a "hold" rating in a report on Wednesday, January 14th. Wall Street Zen raised shares of Minerals Technologies from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 2nd. Weiss Ratings reissued a "sell (d+)" rating on shares of Minerals Technologies in a report on Wednesday, April 22nd. Finally, Seaport Research Partners reissued a "buy" rating on shares of Minerals Technologies in a report on Monday. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Minerals Technologies presently has an average rating of "Hold" and a consensus target price of $90.00.

Minerals Technologies Price Performance

The company has a quick ratio of 1.47, a current ratio of 2.13 and a debt-to-equity ratio of 0.54. The firm's fifty day moving average price is $70.58 and its two-hundred day moving average price is $65.59. The stock has a market capitalization of $2.46 billion, a PE ratio of 15.32 and a beta of 1.12.

Minerals Technologies (NYSE:MTX - Get Free Report) last released its quarterly earnings data 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. Minerals Technologies had a net margin of 7.60% and a return on equity of 10.40%. The firm had revenue of $546.90 million during the quarter, compared to analysts' expectations of $516.39 million. During the same period in the previous year, the company earned $1.14 earnings per share. The firm's quarterly revenue was up 11.2% on a year-over-year basis. On average, equities analysts predict that Minerals Technologies Inc. will post 6.33 earnings per share for the current year.

Institutional Trading of Minerals Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC increased its holdings in Minerals Technologies by 626.8% during the second quarter. EverSource Wealth Advisors LLC now owns 596 shares of the basic materials company's stock valued at $33,000 after buying an additional 514 shares during the last quarter. First Horizon Corp purchased a new stake in Minerals Technologies during the third quarter valued at approximately $35,000. Torren Management LLC purchased a new stake in Minerals Technologies during the fourth quarter valued at approximately $50,000. Danske Bank A S purchased a new stake in Minerals Technologies during the third quarter valued at approximately $56,000. Finally, Strs Ohio purchased a new stake in Minerals Technologies during the first quarter valued at approximately $70,000. 97.29% of the stock is owned by hedge funds and other institutional investors.

Minerals Technologies Company Profile

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.

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