Minerals Technologies (NYSE:MTX) Hits New 12-Month Low – Should You Sell?

Shares of Minerals Technologies Inc. (NYSE:MTX) reached a new 52-week low during mid-day trading on Friday . The company traded as low as $65.14 and last traded at $65.14, with a volume of 65695 shares trading hands. The stock had previously closed at $67.17.

Wall Street Analysts Forecast Growth

MTX has been the subject of a number of analyst reports. 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 research note on Monday, February 10th. StockNews.com downgraded Minerals Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday.

Minerals Technologies Price Performance

The business has a 50 day moving average price of $72.06 and a two-hundred day moving average price of $75.46. The stock has a market cap of $2.07 billion, a PE ratio of 12.56 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.

Minerals Technologies (NYSE:MTX) last announced 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 return on equity of 11.49% and a net margin of 7.89%. Research analysts expect that Minerals Technologies Inc. will post 6.62 earnings per share for the current fiscal year.

Minerals Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 14th were paid a $0.11 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.68%. Minerals Technologies’s payout ratio is presently 8.49%.

Hedge Funds Weigh In On Minerals Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Smartleaf Asset Management LLC lifted its stake in Minerals Technologies by 181.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 506 shares of the basic materials company’s stock valued at $38,000 after purchasing an additional 326 shares during the last quarter. Quarry LP increased its holdings in shares of Minerals Technologies by 536.5% in the fourth quarter. Quarry LP now owns 732 shares of the basic materials company’s stock worth $56,000 after purchasing an additional 617 shares during the period. Blue Trust Inc. increased its stake in 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 acquiring an additional 178 shares during the last quarter. Venturi Wealth Management LLC bought a new position in Minerals Technologies in the fourth quarter valued at $78,000. Finally, KBC Group NV increased its stake in Minerals Technologies by 43.9% in the fourth quarter. KBC Group NV now owns 1,478 shares of the basic materials company’s stock valued at $113,000 after acquiring an additional 451 shares during the last quarter. Hedge funds and other 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.