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

Minerals Technologies Inc. (NYSE:MTX - Get Free Report) reached a new 52-week low on Thursday . The stock traded as low as $58.54 and last traded at $59.20, with a volume of 74294 shares. The stock had previously closed at $63.06.

Wall Street Analysts Forecast Growth

MTX has been the subject of a number of research analyst reports. Truist Financial reduced their target price on Minerals Technologies from $103.00 to $101.00 and set a "buy" rating for the company in a report on Monday, February 10th. StockNews.com raised Minerals Technologies from a "hold" rating to a "buy" rating in a research note on Tuesday, April 1st.

Minerals Technologies Price Performance

The stock has a market capitalization of $1.70 billion, a PE ratio of 10.34 and a beta of 1.25. 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's 50-day moving average is $67.98 and its 200 day moving average is $74.33.

Minerals Technologies (NYSE:MTX - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The basic materials company reported $1.50 EPS for the quarter, beating 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%. As a group, equities analysts predict that Minerals Technologies Inc. will post 6.62 earnings per share for the current year.

Minerals Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 14th were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend was Friday, February 14th. Minerals Technologies's dividend payout ratio (DPR) is presently 8.49%.

Institutional Investors Weigh In On Minerals Technologies

Large investors have recently made changes to their positions in the company. Smartleaf Asset Management LLC boosted its holdings in 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 purchasing an additional 326 shares in the last quarter. Quarry LP boosted its stake in shares of Minerals Technologies by 536.5% during 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 in the last quarter. Blue Trust Inc. boosted its stake in shares of 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 in the last quarter. Venturi Wealth Management LLC acquired a new position in shares of Minerals Technologies during the 4th quarter valued at about $78,000. Finally, KBC Group NV raised its stake in shares of Minerals Technologies by 43.9% in the 4th quarter. KBC Group NV now owns 1,478 shares of the basic materials company's stock valued at $113,000 after acquiring an additional 451 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.