Minerals Technologies (NYSE:MTX) Price Target Raised to $84.00

Minerals Technologies (NYSE:MTX) had its price objective raised by Truist Financial from $80.00 to $84.00 in a research note issued to investors on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the basic materials company’s stock.

Separately, Wall Street Zen cut shares of Minerals Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, April 9th.

Minerals Technologies Price Performance

Shares of NYSE:MTX opened at $58.48 on Monday. The company has a 50-day simple moving average of $57.66 and a 200-day simple moving average of $62.50. Minerals Technologies has a one year low of $49.54 and a one year high of $86.49. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.35 and a current ratio of 1.95. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of 974.83 and a beta of 1.20.

Minerals Technologies (NYSE:MTX) last announced its earnings results on Thursday, July 24th. The basic materials company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.12. The business had revenue of $528.90 million during the quarter, compared to analysts’ expectations of $529.13 million. Minerals Technologies had a net margin of 0.10% and a return on equity of 10.64%. The business’s revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.65 earnings per share. On average, analysts predict that Minerals Technologies will post 6.62 EPS for the current year.

Minerals Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 15th will be issued a dividend of $0.11 per share. The ex-dividend date is Friday, August 15th. This represents a $0.44 annualized dividend and a yield of 0.75%. Minerals Technologies’s dividend payout ratio is currently 733.33%.

Insider Transactions at Minerals Technologies

In other news, Director Kristina M. Johnson purchased 1,000 shares of the business’s stock in a transaction that occurred on Friday, May 2nd. The stock was purchased at an average cost of $53.79 per share, with a total value of $53,790.00. Following the completion of the acquisition, the director directly owned 1,400 shares of the company’s stock, valued at approximately $75,306. This trade represents a 250.00% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 3.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Quarry LP grew its position in Minerals Technologies by 536.5% during the fourth quarter. Quarry LP now owns 732 shares of the basic materials company’s stock worth $56,000 after buying an additional 617 shares during the period. Blue Trust Inc. grew its position in Minerals Technologies by 44.6% during the second quarter. Blue Trust Inc. now owns 1,011 shares of the basic materials company’s stock worth $56,000 after buying an additional 312 shares during the period. Strs Ohio acquired a new position in Minerals Technologies during the first quarter worth about $70,000. Quantbot Technologies LP acquired a new position in Minerals Technologies during the first quarter worth about $124,000. Finally, State of Wyoming grew its position in Minerals Technologies by 11.5% during the first quarter. State of Wyoming now owns 2,684 shares of the basic materials company’s stock worth $171,000 after buying an additional 277 shares during the period. 97.29% of the stock is owned by hedge funds and other 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.