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

Minerals Technologies Inc. (NYSE:MTX)’s stock price reached a new 52-week low on Tuesday . The company traded as low as $66.20 and last traded at $66.62, with a volume of 25201 shares traded. The stock had previously closed at $66.65.

Analyst Upgrades and Downgrades

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

Minerals Technologies Trading Down 0.8 %

The company has a debt-to-equity ratio of 0.54, a current ratio of 2.84 and a quick ratio of 1.98. The business has a 50-day moving average price of $72.86 and a two-hundred day moving average price of $75.81. The firm has a market cap of $2.12 billion, a PE ratio of 12.84 and a beta of 1.28.

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

Minerals Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 14th were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date was Friday, February 14th. Minerals Technologies’s payout ratio is currently 8.49%.

Hedge Funds Weigh In On Minerals Technologies

A number of institutional investors have recently made changes to their positions in the stock. Smartleaf Asset Management LLC boosted its stake in shares of 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% in the 4th quarter. Quarry LP now owns 732 shares of the basic materials company’s stock valued at $56,000 after purchasing an additional 617 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Minerals Technologies by 21.4% during the 4th quarter. Blue Trust Inc. now owns 1,009 shares of the basic materials company’s stock worth $78,000 after purchasing an additional 178 shares during the last quarter. Venturi Wealth Management LLC purchased a new stake in shares of Minerals Technologies during the fourth quarter worth about $78,000. Finally, KBC Group NV grew its holdings 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 buying an additional 451 shares in the last quarter. 97.29% of the stock is owned by institutional investors and hedge funds.

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.