Minerals Technologies (NYSE:MTX) Sets New 12-Month Low - Here's Why

Minerals Technologies Inc. (NYSE:MTX - Get Free Report) shares reached a new 52-week low on Wednesday . The company traded as low as $69.35 and last traded at $69.62, with a volume of 90594 shares trading hands. The stock had previously closed at $70.63.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on MTX shares. Truist Financial decreased their price target on shares of Minerals Technologies from $103.00 to $101.00 and set a "buy" rating for the company in a research note on Monday, February 10th. StockNews.com lowered 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 debt-to-equity ratio of 0.54, a current ratio of 2.84 and a quick ratio of 1.98. The firm has a market capitalization of $2.19 billion, a PE ratio of 13.26 and a beta of 1.30. The company's fifty day simple moving average is $74.32 and its 200 day simple moving average is $76.23.

Minerals Technologies (NYSE:MTX - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The basic materials company reported $1.50 earnings per share for the quarter, beating analysts' consensus estimates 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 expect that Minerals Technologies Inc. will post 6.62 EPS for the current fiscal year.

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Minerals Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be issued a dividend of $0.11 per share. The ex-dividend date is Friday, February 14th. This represents a $0.44 dividend on an annualized basis and a yield of 0.64%. Minerals Technologies's dividend payout ratio (DPR) is 8.49%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Jefferies Financial Group Inc. purchased a new stake in shares of Minerals Technologies in the fourth quarter worth about $3,078,000. Mackenzie Financial Corp purchased a new stake in Minerals Technologies in the 4th quarter worth approximately $298,000. PharVision Advisers LLC purchased a new stake in Minerals Technologies in the 4th quarter worth approximately $236,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Minerals Technologies by 17.3% in the 4th 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 valued at $7,673,000 after purchasing an additional 14,820 shares during the period. Finally, Two Sigma Advisers LP grew its position in shares of Minerals Technologies by 6.7% during 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 purchasing an additional 1,900 shares in the last quarter. Institutional investors 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.