Minerals Technologies (NYSE:MTX) Sets New 52-Week Low – Should You Sell?

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Truist Financial decreased their target price on 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 cut shares of Minerals Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th.

Minerals Technologies Stock Performance

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 stock has a market cap of $2.16 billion, a P/E ratio of 13.10 and a beta of 1.28. The stock has a fifty day simple moving average of $73.77 and a 200-day simple moving average of $76.07.

Minerals Technologies (NYSE:MTX) last released its quarterly earnings data on Thursday, February 6th. The basic materials company reported $1.50 earnings per share for the quarter, topping 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%. Equities 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 will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.44 annualized dividend and a yield of 0.65%. Minerals Technologies’s dividend payout ratio is presently 8.49%.

Hedge Funds Weigh In On Minerals Technologies

Several institutional investors have recently modified their holdings of MTX. 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 Minerals Technologies in the 4th quarter valued at approximately $298,000. PharVision Advisers LLC bought a new stake in Minerals Technologies in the 4th quarter valued at approximately $236,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in 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 purchasing an additional 14,820 shares during the last quarter. Finally, Two Sigma Advisers LP increased its stake in Minerals Technologies by 6.7% in the 4th quarter. Two Sigma Advisers LP now owns 30,300 shares of the basic materials company’s stock valued at $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.