Minerals Technologies (NYSE:MTX) Hits New 52-Week Low – What’s Next?

Minerals Technologies Inc. (NYSE:MTX) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $67.22 and last traded at $67.56, with a volume of 164748 shares traded. The stock had previously closed at $68.74.

Analyst Ratings Changes

Several research firms have commented on MTX. Truist Financial cut their price target on Minerals Technologies from $103.00 to $101.00 and set a “buy” rating for the company in a report on Monday, February 10th. StockNews.com cut Minerals Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th.

Minerals Technologies Trading Down 1.7 %

The firm has a market cap of $2.16 billion, a P/E ratio of 13.04 and a beta of 1.30. The company has a current ratio of 2.84, a quick ratio of 1.98 and a debt-to-equity ratio of 0.54. The company’s fifty day moving average price is $74.15 and its two-hundred day moving average price is $76.18.

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

Minerals Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be paid 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 0.65%. Minerals Technologies’s dividend payout ratio (DPR) is presently 8.49%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC increased its position in Minerals Technologies by 181.1% in the 4th 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 in the last quarter. Quarry LP grew its stake in shares of Minerals Technologies by 536.5% during the fourth quarter. Quarry LP now owns 732 shares of the basic materials company’s stock valued at $56,000 after purchasing an additional 617 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Minerals Technologies by 21.4% in the fourth quarter. Blue Trust Inc. now owns 1,009 shares of the basic materials company’s stock valued at $78,000 after purchasing an additional 178 shares in the last quarter. Venturi Wealth Management LLC bought a new position in Minerals Technologies in the 4th quarter worth approximately $78,000. Finally, KBC Group NV lifted its holdings in Minerals Technologies by 43.9% during the 4th quarter. KBC Group NV now owns 1,478 shares of the basic materials company’s stock worth $113,000 after buying an additional 451 shares in the last quarter. Institutional investors and hedge funds own 97.29% of the company’s stock.

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.