Analysts Set Minerals Technologies Inc. (NYSE:MTX) PT at $103.00

Shares of Minerals Technologies Inc. (NYSE:MTX) have earned an average recommendation of “Buy” from the two research firms that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a buy rating. The average 1 year price objective among brokerages that have covered the stock in the last year is $103.00.

A number of equities analysts recently commented on MTX shares. StockNews.com cut shares of Minerals Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Truist Financial assumed coverage on Minerals Technologies in a report on Tuesday. They issued a “buy” rating and a $103.00 target price for the company.

Institutional Trading of Minerals Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC bought a new stake in Minerals Technologies during the second quarter valued at approximately $1,563,000. Vanguard Personalized Indexing Management LLC bought a new position in shares of Minerals Technologies during the 2nd quarter valued at about $223,000. Squarepoint Ops LLC boosted its stake in Minerals Technologies by 16.2% in the second quarter. Squarepoint Ops LLC now owns 17,044 shares of the basic materials company’s stock worth $1,417,000 after buying an additional 2,372 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Minerals Technologies by 53.7% during the second quarter. AQR Capital Management LLC now owns 85,355 shares of the basic materials company’s stock worth $7,070,000 after acquiring an additional 29,818 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Minerals Technologies by 3.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,522 shares of the basic materials company’s stock worth $1,457,000 after acquiring an additional 526 shares during the last quarter. 97.29% of the stock is currently owned by institutional investors.

Minerals Technologies Stock Up 0.9 %

Shares of NYSE MTX opened at $77.37 on Tuesday. The company has a market cap of $2.47 billion, a price-to-earnings ratio of 16.39 and a beta of 1.31. 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 stock has a 50-day moving average price of $77.73 and a two-hundred day moving average price of $77.24. Minerals Technologies has a 12 month low of $64.91 and a 12 month high of $90.29.

Minerals Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.57%. Minerals Technologies’s dividend payout ratio (DPR) is presently 9.32%.

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.