Minerals Technologies (NYSE:MTX) Hits New 52-Week Low – Time to Sell?

Minerals Technologies Inc. (NYSE:MTX) reached a new 52-week low on Friday . The company traded as low as $63.74 and last traded at $63.76, with a volume of 15012 shares. The stock had previously closed at $64.89.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Truist Financial decreased their price objective 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. StockNews.com cut shares of Minerals Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, March 19th.

Minerals Technologies Price Performance

The stock has a market capitalization of $2.03 billion, a PE ratio of 12.31 and a beta of 1.28. The company’s 50 day simple moving average is $70.90 and its 200 day simple moving average is $75.12. The company has a current ratio of 2.84, a quick ratio of 1.98 and a debt-to-equity ratio of 0.54.

Minerals Technologies (NYSE:MTX) last released its earnings results on Thursday, February 6th. The basic materials company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.39 by $0.11. Minerals Technologies had a return on equity of 11.49% and a net margin of 7.89%. On average, equities analysts anticipate that Minerals Technologies Inc. will post 6.62 earnings per share for the current 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 0.69%. The ex-dividend date was Friday, February 14th. Minerals Technologies’s dividend payout ratio (DPR) is 8.49%.

Hedge Funds Weigh In On Minerals Technologies

A number of hedge funds have recently made changes to their positions in the stock. Smartleaf Asset Management LLC raised its position in shares of Minerals Technologies by 181.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 506 shares of the basic materials company’s stock worth $38,000 after buying an additional 326 shares during the period. Quarry LP raised its holdings in shares of Minerals Technologies by 536.5% in the 4th 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. raised its holdings in shares of Minerals Technologies by 21.4% in 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 period. Venturi Wealth Management LLC purchased a new stake in shares of Minerals Technologies during the 4th quarter worth about $78,000. Finally, KBC Group NV grew its holdings in shares of Minerals Technologies by 43.9% during the 4th quarter. KBC Group NV now owns 1,478 shares of the basic materials company’s stock worth $113,000 after purchasing an additional 451 shares during the period. 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.