Is Minerals Technologies, Inc. overvalued or undervalued?

As of 31 July 2025, the valuation grade for Minerals Technologies, Inc. has moved from attractive to fair, indicating a shift in its perceived value. The company appears to be fairly valued based on its current metrics, with a P/E ratio of 13, an EV to EBITDA of 8.96, and a Price to Book Value of 1.70. In comparison to peers, Avantor, Inc. has a lower P/E of 11.82 and a higher EV to EBITDA of 11.86, while NewMarket Corp. shows a higher P/E of 16.30 but a similar EV to EBITDA of 11.85.
Despite the fair valuation, the stock has underperformed relative to the S&P 500, with a year-to-date return of -15.13% compared to the index's 12.22%. This underperformance, along with the recent grade change, suggests that while the company is not overvalued, it may face challenges in regaining investor confidence.