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

Key Points

• Wall Street Zen upgraded Minerals Technologies (NYSE:MTX) from a "buy" to a "strong-buy", though analysts remain mixed—Truist raised its price target to $89 and MarketBeat shows a consensus rating of "Hold" with a consensus target of $89.
• MTX reported quarterly EPS of $1.27 (missing by $0.01) and revenue of $519.5M (slightly above expectations); the company has a negative net margin (-0.89%) but positive ROE and currently trades around $69 with a market cap near $2.15B.
• 97.29% of MTX stock is held by hedge funds and institutional investors, with recent stake increases from firms including JPMorgan Chase and American Century.

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

A number of other equities analysts have also recently issued reports on the company. Truist Financial increased their price target on Minerals Technologies from $84.00 to $89.00 and gave the stock a "buy" rating in a report on Monday, February 2nd. Zacks Research upgraded shares of Minerals Technologies from a "strong sell" rating to a "hold" rating in a research report on Wednesday, January 14th. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of Minerals Technologies in a research note on Monday, December 22nd. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Minerals Technologies currently has an average rating of "Hold" and a consensus target price of $89.00.

Minerals Technologies Trading Down 0.0%

Shares of MTX opened at $69.29 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.45 and a current ratio of 2.08. Minerals Technologies has a 52-week low of $49.54 and a 52-week high of $75.29. The firm has a market cap of $2.15 billion, a price-to-earnings ratio of -135.86 and a beta of 1.19. The business's fifty day moving average is $69.87 and its 200-day moving average is $63.94.

Minerals Technologies (NYSE:MTX - Get Free Report) last announced its quarterly earnings data on Thursday, January 29th. The basic materials company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.01). Minerals Technologies had a positive return on equity of 10.22% and a negative net margin of 0.89%.The business had revenue of $519.50 million for the quarter, compared to the consensus estimate of $517.83 million. During the same quarter in the prior year, the company earned $1.28 earnings per share. Minerals Technologies's quarterly revenue was up .3% compared to the same quarter last year. Equities analysts anticipate 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 modified their holdings of MTX. JPMorgan Chase & Co. boosted its holdings in Minerals Technologies by 24.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 156,584 shares of the basic materials company's stock valued at $9,727,000 after acquiring an additional 30,443 shares during the period. American Century Companies Inc. increased its position in Minerals Technologies by 3.1% during the 3rd quarter. American Century Companies Inc. now owns 1,324,392 shares of the basic materials company's stock valued at $82,271,000 after purchasing an additional 39,860 shares during the period. CSM Advisors LLC increased its position in shares of Minerals Technologies by 17.3% during the third quarter. CSM Advisors LLC now owns 104,078 shares of the basic materials company's stock valued at $6,464,000 after buying an additional 15,384 shares during the period. CW Advisors LLC raised its position in shares of Minerals Technologies by 104.7% in the 2nd quarter. CW Advisors LLC now owns 21,940 shares of the basic materials company's stock worth $1,208,000 after acquiring an additional 11,224 shares in the last quarter. Finally, Broad Bay Capital Management LP bought a new position in Minerals Technologies in the second quarter worth $16,926,000. 97.29% of the stock is currently owned by hedge funds and other institutional investors.

Minerals Technologies Company Profile

Minerals Technologies Inc develops, produces and processes a broad range of mineral-based products and solutions that serve a variety of industrial applications. Its offerings include bentonite, perlite, precipitated calcium carbonate (PCC), mineral sands, foundry additives, performance minerals and specialty chemicals designed to enhance performance in markets such as paper, steel, construction, oil and gas, environmental remediation and consumer products.

The company operates through several business segments, including Specialty Minerals, Refractory Minerals, Performance Materials and Recycled Materials.

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