Truist Financial Lowers Minerals Technologies (NYSE:MTX) Price Target to $80.00

Minerals Technologies (NYSE:MTX - Get Free Report) had its price target cut by research analysts at Truist Financial from $92.00 to $80.00 in a report issued on Monday,Benzinga reports. The firm currently has a "buy" rating on the basic materials company's stock. Truist Financial's price objective would suggest a potential upside of 50.77% from the stock's current price.

Separately, StockNews.com cut shares of Minerals Technologies from a "buy" rating to a "hold" rating in a report on Wednesday, April 9th.

Minerals Technologies Stock Up 0.7 %

MTX stock traded up $0.37 during trading on Monday, reaching $53.06. The stock had a trading volume of 289,398 shares, compared to its average volume of 179,616. The company has a current ratio of 2.84, a quick ratio of 1.98 and a debt-to-equity ratio of 0.54. The firm has a fifty day moving average price of $61.22 and a 200 day moving average price of $71.69. The company has a market capitalization of $1.69 billion, a P/E ratio of 10.24 and a beta of 1.25. Minerals Technologies has a 1-year low of $49.54 and a 1-year high of $90.30.

Minerals Technologies (NYSE:MTX - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The basic materials company reported $1.14 EPS for the quarter, missing analysts' consensus estimates of $1.16 by ($0.02). Minerals Technologies had a net margin of 7.89% and a return on equity of 11.49%. The business had revenue of $491.80 million during the quarter, compared to analysts' expectations of $502.03 million. During the same period in the prior year, the company posted $1.49 EPS. The company's revenue for the quarter was down 8.0% on a year-over-year basis. On average, equities analysts anticipate that Minerals Technologies will post 6.62 earnings per share for the current year.

Insider Buying and Selling

In other Minerals Technologies news, CFO Erik Aldag acquired 1,000 shares of the firm's stock in a transaction on Wednesday, April 30th. The stock was purchased at an average price of $50.37 per share, with a total value of $50,370.00. Following the completion of the acquisition, the chief financial officer now directly owns 4,245 shares in the company, valued at $213,820.65. This trade represents a 30.82 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 3.50% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. FMR LLC lifted its holdings in Minerals Technologies by 42.7% in the fourth quarter. FMR LLC now owns 1,761,925 shares of the basic materials company's stock worth $134,276,000 after acquiring an additional 527,206 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Minerals Technologies by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 873,123 shares of the basic materials company's stock worth $66,554,000 after purchasing an additional 7,780 shares during the period. American Century Companies Inc. lifted its holdings in shares of Minerals Technologies by 31.1% in the 4th quarter. American Century Companies Inc. now owns 861,173 shares of the basic materials company's stock worth $65,630,000 after purchasing an additional 204,371 shares during the last quarter. Snyder Capital Management L P grew its stake in Minerals Technologies by 8.5% during the 4th quarter. Snyder Capital Management L P now owns 630,381 shares of the basic materials company's stock worth $48,041,000 after buying an additional 49,376 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Minerals Technologies by 0.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 555,157 shares of the basic materials company's stock worth $42,309,000 after buying an additional 2,647 shares during the period. 97.29% of the stock is currently 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.