Minerals Technologies (NYSE:MTX) Hits New 52-Week 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 changing hands. The stock had previously closed at $66.65.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MTX. Truist Financial reduced their price objective on shares of Minerals Technologies from $103.00 to $101.00 and set a “buy” rating for the company in a research note on Monday, February 10th. StockNews.com lowered shares of Minerals Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th.

Minerals Technologies Trading Up 1.1 %

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 stock has a 50-day simple moving average of $73.22 and a 200 day simple moving average of $75.94. The company has a market cap of $2.15 billion, a price-to-earnings ratio of 13.00 and a beta of 1.28.

Minerals Technologies (NYSE:MTX) last issued its earnings results on Thursday, February 6th. The basic materials company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate 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, equities research analysts predict that Minerals Technologies Inc. will post 6.62 EPS for the current fiscal year.

Minerals Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 14th were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.65%. The ex-dividend date was Friday, February 14th. Minerals Technologies’s dividend payout ratio is currently 8.49%.

Institutional Investors Weigh In On Minerals Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. lifted its stake in shares of Minerals Technologies by 2.7% in the 4th quarter. Principal Financial Group Inc. now owns 166,647 shares of the basic materials company’s stock valued at $12,700,000 after purchasing an additional 4,356 shares during the period. State Street Corp boosted its stake in shares of Minerals Technologies by 2.6% during the 3rd quarter. State Street Corp now owns 1,268,792 shares of the basic materials company’s stock worth $97,989,000 after acquiring an additional 32,196 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Minerals Technologies by 9.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 115,887 shares of the basic materials company’s stock worth $8,950,000 after acquiring an additional 10,284 shares in the last quarter. Franklin Resources Inc. grew its position in shares of Minerals Technologies by 21.1% during the 3rd quarter. Franklin Resources Inc. now owns 47,847 shares of the basic materials company’s stock valued at $3,728,000 after acquiring an additional 8,335 shares during the period. Finally, Thrivent Financial for Lutherans increased its stake in shares of Minerals Technologies by 42.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 64,110 shares of the basic materials company’s stock valued at $4,951,000 after purchasing an additional 19,037 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.