Minerals Technologies (NYSE:MTX) Sets New 52-Week Low - What's Next?

Minerals Technologies Inc. (NYSE:MTX - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $67.22 and last traded at $67.56, with a volume of 164748 shares changing hands. The stock had previously closed at $68.74.

Analyst Ratings Changes

MTX has been the topic of a number of research reports. Truist Financial dropped their price objective 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 lowered shares of Minerals Technologies from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th.

Minerals Technologies Stock Down 0.3 %

The company has a market cap of $2.17 billion, a price-to-earnings ratio of 13.11 and a beta of 1.28. The business has a 50-day simple moving average of $73.58 and a two-hundred day simple moving average of $76.02. The company has a quick ratio of 1.98, a current ratio of 2.84 and a debt-to-equity ratio of 0.54.

Minerals Technologies (NYSE:MTX - Get Free Report) last announced its earnings results on Thursday, February 6th. The basic materials company reported $1.50 earnings per share (EPS) 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, equities analysts forecast that Minerals Technologies Inc. will post 6.62 earnings per share for the current fiscal year.

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Minerals Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend is Friday, February 14th. Minerals Technologies's dividend payout ratio is 8.49%.

Institutional Investors Weigh In On Minerals Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in MTX. FMR LLC grew its holdings 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 during the last quarter. State Street Corp grew its stake in shares of Minerals Technologies by 2.6% in the third quarter. State Street Corp now owns 1,268,792 shares of the basic materials company's stock worth $97,989,000 after acquiring an additional 32,196 shares during the last quarter. Geode Capital Management LLC increased its position in Minerals Technologies by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 873,123 shares of the basic materials company's stock worth $66,554,000 after acquiring an additional 7,780 shares during the period. American Century Companies Inc. raised its stake in Minerals Technologies by 31.1% during the 4th quarter. American Century Companies Inc. now owns 861,173 shares of the basic materials company's stock valued at $65,630,000 after purchasing an additional 204,371 shares during the last quarter. Finally, Snyder Capital Management L P boosted its holdings in Minerals Technologies by 8.5% in the 4th quarter. Snyder Capital Management L P now owns 630,381 shares of the basic materials company's stock valued at $48,041,000 after purchasing an additional 49,376 shares during the period. 97.29% of the stock is 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.