Minerals Technologies (NYSE:MTX) Sets New 12-Month Low – Time to Sell?

Minerals Technologies Inc. (NYSE:MTX) hit a new 52-week low on Thursday . The stock traded as low as $58.54 and last traded at $59.20, with a volume of 74294 shares traded. The stock had previously closed at $63.06.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. StockNews.com raised Minerals Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday. Truist Financial reduced their target price on shares of Minerals Technologies from $103.00 to $101.00 and set a “buy” rating on the stock in a research report on Monday, February 10th.

Minerals Technologies Trading Down 7.0 %

The business’s 50-day simple moving average is $70.10 and its two-hundred day simple moving average is $74.94. 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 company has a market capitalization of $1.87 billion, a PE ratio of 11.32 and a beta of 1.28.

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 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, analysts predict that Minerals Technologies Inc. will post 6.62 earnings per share for the current year.

Minerals Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors 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 0.75%. Minerals Technologies’s dividend payout ratio (DPR) is presently 8.49%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. FMR LLC lifted its position in shares of Minerals Technologies by 42.7% during the fourth quarter. FMR LLC now owns 1,761,925 shares of the basic materials company’s stock worth $134,276,000 after purchasing an additional 527,206 shares during the last quarter. State Street Corp lifted its holdings in 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 buying an additional 32,196 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Minerals Technologies by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 873,123 shares of the basic materials company’s stock worth $66,554,000 after acquiring an additional 7,780 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Minerals Technologies by 31.1% in the 4th quarter. American Century Companies Inc. now owns 861,173 shares of the basic materials company’s stock valued at $65,630,000 after acquiring an additional 204,371 shares during the last quarter. Finally, Snyder Capital Management L P raised its position in shares of Minerals Technologies by 8.5% during the 4th quarter. Snyder Capital Management L P now owns 630,381 shares of the basic materials company’s stock valued at $48,041,000 after acquiring an additional 49,376 shares in the last quarter. 97.29% of the stock is currently owned by institutional investors.

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.