Minerals Technologies (NYSE:MTX) Sets New 1-Year Low – Time to Sell?

Minerals Technologies Inc. (NYSE:MTX)’s stock price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $63.74 and last traded at $63.76, with a volume of 15012 shares traded. The stock had previously closed at $64.89.

Analysts Set New Price Targets

Several research analysts have weighed in on MTX shares. StockNews.com lowered Minerals Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, March 19th. Truist Financial lowered 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.

Minerals Technologies Trading Down 2.6 %

The company has a market cap of $2.02 billion, a price-to-earnings ratio of 12.20 and a beta of 1.28. The company’s 50 day moving average price is $71.15 and its 200 day moving average price is $75.16. 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 posted its 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 net margin of 7.89% and a return on equity of 11.49%. Research analysts anticipate that Minerals Technologies Inc. will post 6.62 EPS for the current year.

Minerals Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 14th were issued a $0.11 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.44 annualized dividend and a yield of 0.70%. Minerals Technologies’s dividend payout ratio (DPR) is currently 8.49%.

Hedge Funds Weigh In On Minerals Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC lifted its stake in shares of Minerals Technologies by 181.1% in the fourth 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 last quarter. Quarry LP raised its holdings in 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 acquiring an additional 617 shares during the period. Blue Trust Inc. lifted its position in Minerals Technologies by 21.4% during the 4th quarter. Blue Trust Inc. now owns 1,009 shares of the basic materials company’s stock worth $78,000 after acquiring an additional 178 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in Minerals Technologies during the fourth quarter valued at about $78,000. Finally, KBC Group NV grew its position in shares of 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 purchasing an additional 451 shares during the last quarter. Institutional investors and hedge funds own 97.29% of the company’s stock.

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.