Truist Financial Has Lowered Expectations for Minerals Technologies (NYSE:MTX) Stock Price

Minerals Technologies (NYSE:MTX) had its price target trimmed by Truist Financial from $92.00 to $80.00 in a report published on Monday,Benzinga reports. The firm currently has a buy rating on the basic materials company’s stock.

Separately, StockNews.com downgraded Minerals Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, April 9th.

Minerals Technologies Stock Up 0.9 %

MTX stock opened at $51.52 on Monday. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of 9.95 and a beta of 1.25. The company has a 50-day moving average of $61.91 and a two-hundred day moving average of $72.03. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.84 and a quick ratio of 1.98. Minerals Technologies has a 52-week low of $49.54 and a 52-week high of $90.30.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC grew its holdings in shares of Minerals Technologies by 42.7% in the 4th quarter. FMR LLC now owns 1,761,925 shares of the basic materials company’s stock worth $134,276,000 after purchasing an additional 527,206 shares during the last quarter. Norges Bank bought a new stake in Minerals Technologies during the fourth quarter worth about $16,360,000. American Century Companies Inc. grew its stake in 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 buying an additional 204,371 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Minerals Technologies during the fourth quarter worth approximately $10,797,000. Finally, Foundry Partners LLC bought a new position in shares of Minerals Technologies in the fourth quarter valued at approximately $7,735,000. 97.29% of the stock is owned by institutional investors.

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.