Truist Financial Issues Pessimistic Forecast for Minerals Technologies (NYSE:MTX) Stock Price

Minerals Technologies (NYSE:MTX) had its target price cut by Truist Financial from $101.00 to $92.00 in a report published on Monday, Marketbeat reports. They currently have a buy rating on the basic materials company’s stock.

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

Minerals Technologies Trading Down 0.8 %

MTX opened at $56.33 on Monday. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of 10.87 and a beta of 1.25. The company’s 50 day simple moving average is $65.34 and its two-hundred day simple moving average is $73.47. Minerals Technologies has a 1-year low of $52.40 and a 1-year high of $90.30. 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 (NYSE:MTX) last announced its quarterly earnings data on Thursday, February 6th. The basic materials company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.11. Minerals Technologies had a return on equity of 11.49% and a net margin of 7.89%. Analysts expect that Minerals Technologies will post 6.62 EPS for the current fiscal year.

Minerals Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 14th were given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date was Friday, February 14th. Minerals Technologies’s payout ratio is 8.49%.

Institutional Investors Weigh In On Minerals Technologies

Large investors have recently bought and sold shares of the stock. Quantinno Capital Management LP lifted its position in shares of Minerals Technologies by 9.6% during the 3rd quarter. Quantinno Capital Management LP now owns 4,178 shares of the basic materials company’s stock worth $323,000 after purchasing an additional 366 shares during the last quarter. State Street Corp lifted its holdings in Minerals Technologies by 2.6% during the 3rd quarter. State Street Corp now owns 1,268,792 shares of the basic materials company’s stock worth $97,989,000 after buying an additional 32,196 shares during the last quarter. Barclays PLC boosted its position in shares of Minerals Technologies by 210.1% during the 3rd quarter. Barclays PLC now owns 111,526 shares of the basic materials company’s stock worth $8,615,000 after acquiring an additional 75,565 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Minerals Technologies by 3.8% during the 3rd quarter. Geode Capital Management LLC now owns 865,343 shares of the basic materials company’s stock worth $66,841,000 after acquiring an additional 31,616 shares in the last quarter. Finally, Tidal Investments LLC raised its position in shares of Minerals Technologies by 14.6% during the 3rd quarter. Tidal Investments LLC now owns 7,454 shares of the basic materials company’s stock worth $576,000 after acquiring an additional 948 shares in the last quarter. 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.