Minerals Technologies (NYSE:MTX) Raised to Buy at Wall Street Zen

Key Points

• Minerals Technologies was upgraded from a "hold" rating to a "buy" rating by Wall Street Zen, indicating increased confidence in the stock's future performance.
• Truist Financial raised its price target for Minerals Technologies from $80.00 to $84.00, reflecting a positive outlook for the company's growth.
• The company reported $1.55 earnings per share for the last quarter, exceeding consensus estimates, although its revenue decreased by 2.3% year-over-year.

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

Separately, Truist Financial upped their target price on Minerals Technologies from $80.00 to $84.00 and gave the stock a "buy" rating in a research note on Monday, July 28th.

Minerals Technologies Stock Down 0.7%

MTX stock traded down $0.43 on Friday, hitting $57.44. 91,458 shares of the company's stock were exchanged, compared to its average volume of 241,490. Minerals Technologies has a 12-month low of $49.54 and a 12-month high of $86.49. The firm has a 50 day moving average price of $57.52 and a two-hundred day moving average price of $61.91. 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 cap of $1.80 billion, a P/E ratio of 957.49 and a beta of 1.22.

Minerals Technologies (NYSE:MTX - Get Free Report) last announced its earnings results 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. The firm had revenue of $528.90 million for the quarter, compared to the consensus estimate of $529.13 million. Minerals Technologies had a return on equity of 10.64% and a net margin of 0.10%. The firm's revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.65 EPS. As a group, equities research analysts expect that Minerals Technologies will post 6.62 EPS for the current fiscal year.

Institutional Trading of Minerals Technologies

Several hedge funds have recently modified their holdings of the stock. QRG Capital Management Inc. lifted its stake in Minerals Technologies by 7.3% in the 1st quarter. QRG Capital Management Inc. now owns 6,955 shares of the basic materials company's stock valued at $442,000 after buying an additional 474 shares in the last quarter. GAMMA Investing LLC raised its holdings in Minerals Technologies by 15,381.2% in the 1st quarter. GAMMA Investing LLC now owns 13,159 shares of the basic materials company's stock valued at $837,000 after acquiring an additional 13,074 shares during the last quarter. SG Americas Securities LLC raised its holdings in Minerals Technologies by 341.8% in the 1st quarter. SG Americas Securities LLC now owns 8,394 shares of the basic materials company's stock valued at $534,000 after acquiring an additional 6,494 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Minerals Technologies by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 171,008 shares of the basic materials company's stock valued at $10,871,000 after acquiring an additional 4,361 shares during the last quarter. Finally, Isthmus Partners LLC acquired a new position in Minerals Technologies in the 1st quarter valued at $1,279,000. 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.