Minerals Technologies (NYSE:MTX) Price Target Raised to $90.00 at Truist Financial

Key Points

• Truist Financial raised its price target on Minerals Technologies to $90.00 (from $89) and kept a "buy" rating, implying about a 17.5% upside from the current share price.
• Minerals Technologies beat Q1 expectations with $1.38 EPS vs. $1.26 expected and revenue of $546.9 million (up 11.2% year-over-year), and analysts forecast about 6.23 EPS for the year.
• Analyst views are mixed (one Buy, one Hold, one Sell) with an average MarketBeat rating of "Hold" and an average target of $90, while institutional investors own roughly 97.3% of the stock and several firms increased their stakes recently.

Minerals Technologies (NYSE:MTX - Get Free Report) had its target price upped by research analysts at Truist Financial from $89.00 to $90.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the basic materials company's stock. Truist Financial's price objective indicates a potential upside of 17.49% from the stock's current price.

A number of other analysts also recently weighed in on the stock. Zacks Research raised shares of Minerals Technologies from a "strong sell" rating to a "hold" rating in a research report on Wednesday, January 14th. Seaport Research Partners reiterated a "buy" rating on shares of Minerals Technologies in a research note on Monday. Weiss Ratings reissued a "sell (d+)" rating on shares of Minerals Technologies in a report on Wednesday, April 22nd. Finally, Wall Street Zen upgraded shares of Minerals Technologies from a "buy" rating to a "strong-buy" rating in a research note on Saturday. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Minerals Technologies has an average rating of "Hold" and an average target price of $90.00.

Minerals Technologies Stock Up 0.8%

MTX stock traded up $0.65 during trading on Monday, reaching $76.61. The stock had a trading volume of 197,359 shares, compared to its average volume of 191,466. 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 firm has a fifty day moving average price of $70.26 and a 200 day moving average price of $65.32. The company has a market capitalization of $2.38 billion, a P/E ratio of 14.81 and a beta of 1.12. Minerals Technologies has a 1-year low of $51.87 and a 1-year high of $78.56.

Minerals Technologies (NYSE:MTX - Get Free Report) 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. Minerals Technologies had a return on equity of 10.40% and a net margin of 7.60%.The company had revenue of $546.90 million during the quarter, compared to the consensus estimate of $516.39 million. During the same period last year, the firm earned $1.14 earnings per share. The company's revenue was up 11.2% on a year-over-year basis. On average, equities analysts anticipate that Minerals Technologies will post 6.23 earnings per share for the current year.

Institutional Trading of Minerals Technologies

A number of institutional investors and hedge funds have recently modified their holdings of MTX. Royal Bank of Canada boosted its holdings in shares of Minerals Technologies by 28.4% in the 1st quarter. Royal Bank of Canada now owns 19,629 shares of the basic materials company's stock valued at $1,249,000 after buying an additional 4,337 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Minerals Technologies by 9.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 110,044 shares of the basic materials company's stock valued at $6,995,000 after acquiring an additional 9,363 shares during the period. Jane Street Group LLC boosted its stake in Minerals Technologies by 177.6% in the first quarter. Jane Street Group LLC now owns 68,156 shares of the basic materials company's stock valued at $4,333,000 after acquiring an additional 43,604 shares during the period. Intech Investment Management LLC grew its holdings in shares of Minerals Technologies by 30.5% during the first quarter. Intech Investment Management LLC now owns 18,504 shares of the basic materials company's stock valued at $1,176,000 after purchasing an additional 4,322 shares during the last quarter. Finally, Strs Ohio bought a new position in shares of Minerals Technologies during the first quarter valued at approximately $70,000. 97.29% of the stock is owned by institutional investors and hedge funds.

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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