Minerals Technologies (NYSE:MTX) Hits New 1-Year Low – Here’s Why

Minerals Technologies Inc. (NYSE:MTX)’s stock price hit a new 52-week low during trading on Wednesday . The company 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.

Analysts Set New Price Targets

MTX has been the subject of several analyst reports. StockNews.com downgraded shares of Minerals Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday. Truist Financial decreased their price target on shares of Minerals Technologies from $103.00 to $101.00 and set a “buy” rating for the company in a report on Monday, February 10th.

Minerals Technologies Trading Down 1.6 %

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 firm has a market capitalization of $2.22 billion, a PE ratio of 13.42 and a beta of 1.30. The business has a fifty day moving average price of $74.73 and a two-hundred day moving average price of $76.30.

Minerals Technologies (NYSE:MTX) last released its earnings results on Thursday, February 6th. The basic materials company reported $1.50 earnings per share for the quarter, topping 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%. Analysts expect that Minerals Technologies Inc. will post 6.62 EPS for the current fiscal year.

Minerals Technologies Announces Dividend

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 given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.63%. The ex-dividend date is Friday, February 14th. Minerals Technologies’s dividend payout ratio (DPR) is presently 8.49%.

Institutional Investors Weigh In On Minerals Technologies

A number of institutional investors and hedge funds have recently modified their holdings of MTX. FMR LLC grew its stake in Minerals Technologies by 42.7% in the 4th quarter. FMR LLC now owns 1,761,925 shares of the basic materials company’s stock worth $134,276,000 after acquiring an additional 527,206 shares during the period. Norges Bank acquired a new stake in Minerals Technologies during the 4th quarter valued at approximately $16,360,000. American Century Companies Inc. increased its position in shares of Minerals Technologies by 31.1% in the 4th quarter. American Century Companies Inc. now owns 861,173 shares of the basic materials company’s stock worth $65,630,000 after purchasing an additional 204,371 shares during the last quarter. Raymond James Financial Inc. bought a new position in Minerals Technologies during the fourth quarter worth $10,797,000. Finally, Foundry Partners LLC bought a new position in Minerals Technologies during the 4th quarter worth $7,735,000. 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.