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

Minerals Technologies (NYSE:MTX - Get Free Report) had its price objective cut by equities researchers at Truist Financial from $92.00 to $80.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the basic materials company's stock. Truist Financial's price objective points to a potential upside of 54.78% from the company's current price.

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

Minerals Technologies Price Performance

Shares of NYSE:MTX traded down $1.29 on Monday, reaching $51.69. 10,078 shares of the company traded hands, compared to its average volume of 174,258. The stock has a market capitalization of $1.64 billion, a PE ratio of 9.98 and a beta of 1.25. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.84 and a quick ratio of 1.98. The company's 50 day moving average is $63.09 and its 200-day moving average is $72.50. Minerals Technologies has a fifty-two week low of $51.85 and a fifty-two week high of $90.30.

Minerals Technologies (NYSE:MTX - Get Free Report) last announced its earnings results on Thursday, April 24th. The basic materials company reported $1.14 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.02). The company had revenue of $491.80 million for the quarter, compared to analysts' expectations of $502.03 million. Minerals Technologies had a net margin of 7.89% and a return on equity of 11.49%. As a group, analysts anticipate that Minerals Technologies will post 6.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC boosted its position in Minerals Technologies by 42.7% during the 4th 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 period. Norges Bank acquired a new stake in shares of Minerals Technologies during the fourth quarter worth approximately $16,360,000. American Century Companies Inc. boosted its holdings in shares of Minerals Technologies by 31.1% during the fourth 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 period. Raymond James Financial Inc. purchased a new position in Minerals Technologies during the fourth quarter valued at approximately $10,797,000. Finally, Foundry Partners LLC acquired a new position in Minerals Technologies in the 4th quarter valued at approximately $7,735,000. Hedge funds and other institutional investors own 97.29% of the company's stock.

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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