Minerals Technologies (NYSE:MTX) Upgraded by Wall Street Zen to "Strong-Buy" Rating

Key Points

• Minerals Technologies has been upgraded to a "strong-buy" rating by Wall Street Zen, indicating increased confidence from analysts in its stock performance.
• The stock currently has a consensus rating of "Hold" with a price target of $84.00, though it has seen mixed ratings from different analysts recently.
• Minerals Technologies reported a decrease in quarterly revenue by 2.3% year-over-year, with earnings per share of $1.55, surpassing the consensus estimate of $1.43.

Minerals Technologies (NYSE:MTX - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued to clients and investors on Friday.

Other analysts have also recently issued reports about the stock. Weiss Ratings reissued a "sell (d+)" rating on shares of Minerals Technologies in a research note on Saturday, September 27th. Truist Financial increased their price target on shares of Minerals Technologies from $80.00 to $84.00 and gave the company a "buy" rating in a research note on Monday, July 28th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $84.00.

Minerals Technologies Price Performance

Minerals Technologies stock traded up $0.53 during trading hours on Friday, hitting $62.85. 161,698 shares of the stock were exchanged, compared to its average volume of 222,139. 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 stock has a market capitalization of $1.97 billion, a P/E ratio of 1,047.71 and a beta of 1.23. Minerals Technologies has a 12 month low of $49.54 and a 12 month high of $86.49. The business's 50-day moving average is $61.90 and its two-hundred day moving average is $59.19.

Minerals Technologies (NYSE:MTX - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.12. Minerals Technologies had a net margin of 0.10% and a return on equity of 10.64%. The firm had revenue of $528.90 million for the quarter, compared to analysts' expectations of $529.13 million. During the same period in the prior year, the firm earned $1.65 earnings per share. The company's quarterly revenue was down 2.3% compared to the same quarter last year. Equities research analysts expect that Minerals Technologies will post 6.62 EPS for the current fiscal year.

Hedge Funds Weigh In On Minerals Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. American Century Companies Inc. boosted its stake in Minerals Technologies by 20.3% in the second quarter. American Century Companies Inc. now owns 1,284,532 shares of the basic materials company's stock valued at $70,739,000 after acquiring an additional 216,453 shares during the last quarter. Geode Capital Management LLC raised its holdings in Minerals Technologies by 0.6% in the second quarter. Geode Capital Management LLC now owns 911,831 shares of the basic materials company's stock worth $50,220,000 after purchasing an additional 5,348 shares during the period. Boston Trust Walden Corp raised its holdings in Minerals Technologies by 9.2% in the second quarter. Boston Trust Walden Corp now owns 659,583 shares of the basic materials company's stock worth $36,323,000 after purchasing an additional 55,345 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Minerals Technologies by 6.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 543,547 shares of the basic materials company's stock worth $33,879,000 after purchasing an additional 32,342 shares during the period. Finally, Brandes Investment Partners LP raised its holdings in Minerals Technologies by 436.3% in the second quarter. Brandes Investment Partners LP now owns 538,073 shares of the basic materials company's stock worth $29,632,000 after purchasing an additional 437,734 shares during the period. 97.29% of the stock is owned by institutional investors.

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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