Minerals Technologies (NYSE:MTX) Reaches New 52-Week Low – Here’s What Happened

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

Wall Street Analyst Weigh In

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

Minerals Technologies Price Performance

The company has a 50 day moving average price of $69.35 and a 200-day moving average price of $74.71. The company has a quick ratio of 1.98, a current ratio of 2.84 and a debt-to-equity ratio of 0.54. The company has a market cap of $1.78 billion, a price-to-earnings ratio of 10.75 and a beta of 1.25.

Minerals Technologies (NYSE:MTX) last released its quarterly earnings results on Thursday, February 6th. The basic materials company reported $1.50 earnings per share (EPS) for the quarter, beating 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. Shareholders of record on Friday, February 14th were given 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 0.79%. Minerals Technologies’s dividend payout ratio (DPR) is presently 8.49%.

Hedge Funds Weigh In On Minerals Technologies

A number of hedge funds have recently made changes to their positions in the stock. FMR LLC raised its holdings in Minerals Technologies by 64.2% during the 3rd quarter. FMR LLC now owns 1,234,719 shares of the basic materials company’s stock worth $95,357,000 after purchasing an additional 482,674 shares during the last quarter. Verition Fund Management LLC raised its stake in Minerals Technologies by 161.2% during the third quarter. Verition Fund Management LLC now owns 10,332 shares of the basic materials company’s stock worth $798,000 after buying an additional 6,377 shares during the last quarter. Paloma Partners Management Co acquired a new position in Minerals Technologies in the third quarter valued at $214,000. Quantinno Capital Management LP boosted its position in Minerals Technologies by 9.6% during the third quarter. Quantinno Capital Management LP now owns 4,178 shares of the basic materials company’s stock valued at $323,000 after acquiring an additional 366 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new stake in Minerals Technologies during the third quarter valued at $366,000. 97.29% of the stock is currently owned by institutional investors.

About Minerals Technologies

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.