Minerals Technologies (NYSE:MTX) Reaches New 12-Month Low – Here’s What Happened

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

Wall Street Analysts Forecast Growth

MTX has been the topic of a number of recent analyst reports. Truist Financial lowered their target price on shares of 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 Minerals Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th.

Minerals Technologies Stock Performance

The stock has a market capitalization of $2.16 billion, a P/E ratio of 13.10 and a beta of 1.28. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.98 and a current ratio of 2.84. The company’s fifty day simple moving average is $73.77 and its two-hundred day simple moving average is $76.07.

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, 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%. As a group, equities analysts forecast that Minerals Technologies Inc. will post 6.62 EPS for the current 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 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend is Friday, February 14th. Minerals Technologies’s payout ratio is currently 8.49%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Jefferies Financial Group Inc. bought a new position in Minerals Technologies in the fourth quarter valued at approximately $3,078,000. Mackenzie Financial Corp bought a new stake in shares of Minerals Technologies during the 4th quarter valued at approximately $298,000. PharVision Advisers LLC bought a new stake in shares of Minerals Technologies during the 4th quarter valued at approximately $236,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Minerals Technologies by 17.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 100,681 shares of the basic materials company’s stock worth $7,673,000 after buying an additional 14,820 shares during the last quarter. Finally, Two Sigma Advisers LP grew its stake in shares of Minerals Technologies by 6.7% during the fourth quarter. Two Sigma Advisers LP now owns 30,300 shares of the basic materials company’s stock worth $2,309,000 after buying an additional 1,900 shares during the last quarter. Institutional investors 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.