Minerals Technologies (NYSE:MTX) Hits New 1-Year Low - Here's Why

Minerals Technologies Inc. (NYSE:MTX - Get Free Report) shares hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $65.14 and last traded at $65.14, with a volume of 65695 shares traded. The stock had previously closed at $67.17.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MTX. StockNews.com downgraded shares of Minerals Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday, March 19th. Truist Financial cut their price target on Minerals Technologies from $103.00 to $101.00 and set a "buy" rating on the stock in a report on Monday, February 10th.

Minerals Technologies Price Performance

The firm has a market capitalization of $2.10 billion, a P/E ratio of 12.68 and a beta of 1.28. 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 business's fifty day moving average is $71.78 and its 200 day moving average is $75.34.

Minerals Technologies (NYSE:MTX - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The basic materials company reported $1.50 earnings per share for the quarter, topping analysts' consensus estimates of $1.39 by $0.11. Minerals Technologies had a return on equity of 11.49% and a net margin of 7.89%. As a group, analysts forecast that Minerals Technologies Inc. will post 6.62 EPS for the current year.

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Minerals Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 14th were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date was Friday, February 14th. Minerals Technologies's dividend payout ratio is currently 8.49%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. FMR LLC boosted its stake in Minerals Technologies by 42.7% in the 4th quarter. FMR LLC now owns 1,761,925 shares of the basic materials company's stock valued at $134,276,000 after buying an additional 527,206 shares in the last quarter. Norges Bank acquired a new stake in shares of Minerals Technologies in the 4th quarter valued at $16,360,000. American Century Companies Inc. grew 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 worth $65,630,000 after purchasing an additional 204,371 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Minerals Technologies in the 4th quarter worth about $10,797,000. Finally, Foundry Partners LLC acquired a new stake in shares of Minerals Technologies during the 4th quarter worth about $7,735,000. 97.29% of the stock is currently owned by institutional investors and hedge funds.

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.