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

Key Points

• Minerals Technologies was upgraded from a "buy" to a "strong-buy" rating by analysts at Wall Street Zen, reflecting increased analyst confidence in the stock.
• Truist Financial raised the target price on MTX from $80.00 to $84.00, and the company has a current consensus price target of $84.00 as well.
• Minerals Technologies reported earnings of $1.55 per share for the last quarter, beating analysts' expectations, although revenue decreased by 2.3% year-over-year.

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

Separately, Truist Financial increased their target price on Minerals Technologies from $80.00 to $84.00 and gave the company a "buy" rating in a report on Monday, July 28th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $84.00.

Minerals Technologies Stock Up 1.2%

MTX stock opened at $64.03 on Friday. Minerals Technologies has a 1-year low of $49.54 and a 1-year high of $86.49. The business has a fifty day moving average price of $60.28 and a 200-day moving average price of $59.96. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.95 and a quick ratio of 1.35. The stock has a market capitalization of $2.01 billion, a P/E ratio of 1,067.41 and a beta of 1.22.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MTX. Northern Trust Corp grew its position in shares of Minerals Technologies by 9.6% during the fourth quarter. Northern Trust Corp now owns 498,929 shares of the basic materials company's stock worth $38,023,000 after purchasing an additional 43,546 shares in the last quarter. Bank of America Corp DE grew its position in shares of Minerals Technologies by 4.0% during the fourth quarter. Bank of America Corp DE now owns 434,789 shares of the basic materials company's stock worth $33,135,000 after purchasing an additional 16,683 shares in the last quarter. Balyasny Asset Management L.P. grew its position in shares of Minerals Technologies by 4.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 5,312 shares of the basic materials company's stock worth $405,000 after purchasing an additional 235 shares in the last quarter. EP Wealth Advisors LLC grew its position in shares of Minerals Technologies by 12.1% during the fourth quarter. EP Wealth Advisors LLC now owns 3,907 shares of the basic materials company's stock worth $298,000 after purchasing an additional 421 shares in the last quarter. Finally, First Manhattan CO. LLC. grew its position in shares of Minerals Technologies by 1.6% during the fourth quarter. First Manhattan CO. LLC. now owns 145,678 shares of the basic materials company's stock worth $11,273,000 after purchasing an additional 2,239 shares in the last quarter. Institutional investors own 97.29% of the company's stock.

About Minerals Technologies

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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