Minerals Technologies (NYSE:MTX) Now Covered by Truist Financial

Truist Financial began coverage on shares of Minerals Technologies (NYSE:MTX) in a research note released on Tuesday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $103.00 target price 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 research note on Wednesday, October 30th.

Minerals Technologies Stock Performance

Shares of NYSE MTX opened at $77.37 on Tuesday. The stock’s 50-day moving average is $77.73 and its 200 day moving average is $77.24. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of 16.39 and a beta of 1.31. Minerals Technologies has a 1-year low of $64.91 and a 1-year high of $90.29. The company has a current ratio of 2.46, a quick ratio of 1.72 and a debt-to-equity ratio of 0.51.

Minerals Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be issued a $0.11 dividend. The ex-dividend date is Friday, February 14th. This represents a $0.44 annualized dividend and a dividend yield of 0.57%. Minerals Technologies’s dividend payout ratio is currently 9.32%.

Institutional Investors Weigh In On Minerals Technologies

Institutional investors have recently bought and sold shares of the stock. Rhumbline Advisers increased its stake in Minerals Technologies by 1.9% in the 4th quarter. Rhumbline Advisers now owns 99,525 shares of the basic materials company’s stock worth $7,585,000 after purchasing an additional 1,877 shares during the period. Legato Capital Management LLC purchased a new position in shares of Minerals Technologies in the fourth quarter worth $1,725,000. Allspring Global Investments Holdings LLC raised its holdings in Minerals Technologies by 1.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 511,205 shares of the basic materials company’s stock valued at $38,330,000 after buying an additional 7,488 shares during the last quarter. Savant Capital LLC boosted its position in Minerals Technologies by 7.4% during the 4th quarter. Savant Capital LLC now owns 3,783 shares of the basic materials company’s stock valued at $288,000 after buying an additional 260 shares during the period. Finally, Guidance Capital Inc. bought a new stake in Minerals Technologies in the 4th quarter worth $462,000. 97.29% of the stock is currently 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.