Minerals Technologies (NYSE:MTX) Coverage Initiated at Truist Financial

Research analysts at Truist Financial initiated coverage on shares of Minerals Technologies (NYSE:MTX) in a note issued to investors on Tuesday, MarketBeat.com reports. The brokerage set a “buy” rating and a $103.00 price target on the basic materials company’s stock. Truist Financial’s price objective points to a potential upside of 34.35% from the company’s previous close.

Separately, StockNews.com lowered Minerals Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th.

Minerals Technologies Stock Down 1.3 %

Minerals Technologies stock opened at $76.67 on Tuesday. Minerals Technologies has a twelve month low of $64.91 and a twelve month high of $90.29. The stock’s fifty day simple moving average is $77.79 and its 200-day simple moving average is $77.25. The company has a current ratio of 2.46, a quick ratio of 1.72 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $2.44 billion, a P/E ratio of 16.24 and a beta of 1.31.

Hedge Funds Weigh In On Minerals Technologies

Several large investors have recently bought and sold shares of MTX. FMR LLC increased its holdings in Minerals Technologies by 64.2% in the third quarter. FMR LLC now owns 1,234,719 shares of the basic materials company’s stock valued at $95,357,000 after buying an additional 482,674 shares during the last quarter. Barclays PLC increased its holdings in Minerals Technologies by 210.1% in the third quarter. Barclays PLC now owns 111,526 shares of the basic materials company’s stock valued at $8,615,000 after buying an additional 75,565 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in Minerals Technologies by 78.5% in the third quarter. Assenagon Asset Management S.A. now owns 161,440 shares of the basic materials company’s stock valued at $12,468,000 after buying an additional 71,021 shares during the last quarter. Edgestream Partners L.P. purchased a new position in Minerals Technologies in the third quarter valued at $4,049,000. Finally, State Street Corp increased its holdings in Minerals Technologies by 2.6% in the third quarter. State Street Corp now owns 1,268,792 shares of the basic materials company’s stock valued at $97,989,000 after buying an additional 32,196 shares during the last quarter. Hedge funds and other institutional investors own 97.29% of the company’s stock.

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.