Minerals Technologies Inc. (NYSE:MTX – Get Free Report)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $81.93 and last traded at $81.1320, with a volume of 418447 shares. The stock had previously closed at $80.32.
Analysts Set New Price Targets
Several analysts have recently weighed in on the company. Weiss Ratings upgraded Minerals Technologies from a “sell (d+)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Zacks Research upgraded Minerals Technologies from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 14th. Wall Street Zen upgraded Minerals Technologies from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 2nd. Seaport Research Partners restated a “buy” rating on shares of Minerals Technologies in a report on Monday, May 4th. Finally, Truist Financial boosted their price target on Minerals Technologies from $89.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, May 4th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $90.00.
View Our Latest Research Report on MTX
Minerals Technologies Stock Performance
Minerals Technologies (NYSE:MTX – Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The basic materials company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.12. The business had revenue of $546.90 million during the quarter, compared to the consensus estimate of $516.39 million. Minerals Technologies had a return on equity of 10.40% and a net margin of 7.60%.Minerals Technologies’s revenue was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.14 earnings per share. On average, equities analysts expect that Minerals Technologies Inc. will post 6.33 EPS for the current year.
Institutional Investors Weigh In On Minerals Technologies
Institutional investors have recently added to or reduced their stakes in the business. American Century Companies Inc. grew its holdings 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 buying an additional 39,860 shares in the last quarter. State Street Corp grew its holdings in Minerals Technologies by 0.5% during the 4th quarter. State Street Corp now owns 1,221,398 shares of the basic materials company’s stock valued at $74,444,000 after buying an additional 6,458 shares in the last quarter. Geode Capital Management LLC grew its holdings in Minerals Technologies by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 897,850 shares of the basic materials company’s stock valued at $54,732,000 after buying an additional 4,693 shares in the last quarter. Brandes Investment Partners LP grew its holdings in Minerals Technologies by 22.9% during the 4th quarter. Brandes Investment Partners LP now owns 819,908 shares of the basic materials company’s stock valued at $49,973,000 after buying an additional 152,950 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Minerals Technologies by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 597,297 shares of the basic materials company’s stock valued at $36,405,000 after buying an additional 15,467 shares in the last quarter. 97.29% of the stock is 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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