Minerals Technologies (NYSE:MTX) Reaches New 52-Week Low – Here’s What Happened

Minerals Technologies Inc. (NYSE:MTX)’s share price hit a new 52-week low during trading on Wednesday . The stock traded as low as $69.35 and last traded at $69.62, with a volume of 90594 shares. The stock had previously closed at $70.63.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on MTX shares. Truist Financial decreased their target price on Minerals Technologies from $103.00 to $101.00 and set a “buy” rating on the stock in a report on Monday, February 10th. StockNews.com lowered shares of Minerals Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday.

Minerals Technologies Price Performance

The firm has a market capitalization of $2.22 billion, a P/E ratio of 13.42 and a beta of 1.30. The company has a quick ratio of 1.98, a current ratio of 2.84 and a debt-to-equity ratio of 0.54. The stock has a fifty day moving average of $74.73 and a 200-day moving average of $76.30.

Minerals Technologies (NYSE:MTX) last posted its earnings results on Thursday, February 6th. The basic materials company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.11. Minerals Technologies had a return on equity of 11.49% and a net margin of 7.89%. Equities analysts predict that Minerals Technologies Inc. will post 6.62 EPS for the current fiscal year.

Minerals Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.44 annualized dividend and a yield of 0.63%. Minerals Technologies’s dividend payout ratio (DPR) is presently 8.49%.

Institutional Investors Weigh In On Minerals Technologies

Large investors have recently bought and sold shares of the company. Smartleaf Asset Management LLC boosted its position in Minerals Technologies by 181.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 506 shares of the basic materials company’s stock valued at $38,000 after acquiring an additional 326 shares during the last quarter. Quarry LP lifted its holdings 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 acquiring an additional 617 shares during the period. Blue Trust Inc. raised its stake in shares of Minerals Technologies by 2,418.2% in the third quarter. Blue Trust Inc. now owns 831 shares of the basic materials company’s stock valued at $69,000 after buying an additional 798 shares during the period. Venturi Wealth Management LLC bought a new position in shares of Minerals Technologies in the fourth quarter worth $78,000. Finally, KBC Group NV raised its stake in shares of Minerals Technologies by 43.9% during the fourth quarter. KBC Group NV now owns 1,478 shares of the basic materials company’s stock worth $113,000 after acquiring an additional 451 shares in the last quarter. 97.29% of the stock is currently owned by institutional investors and hedge funds.

Minerals Technologies Company Profile

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.