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

Minerals Technologies Inc. (NYSE:MTX - Get Free Report)'s stock price reached a new 52-week low on Friday . The stock traded as low as $63.74 and last traded at $63.76, with a volume of 15012 shares changing hands. The stock had previously closed at $64.89.

Analysts Set New Price Targets

Several research analysts have recently commented on MTX shares. Truist Financial cut their price objective 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 cut shares of Minerals Technologies from a "buy" rating to a "hold" rating in a research note on Wednesday, March 19th.

Minerals Technologies Price Performance

The firm's 50-day moving average is $70.65 and its 200-day moving average is $75.09. 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 company has a market capitalization of $1.99 billion, a PE ratio of 12.03 and a beta of 1.28.

Minerals Technologies (NYSE:MTX - Get Free Report) last announced its quarterly earnings data 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 return on equity of 11.49% and a net margin of 7.89%. Equities analysts predict that Minerals Technologies Inc. will post 6.62 earnings per share for the current fiscal year.

Minerals Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 14th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend was Friday, February 14th. Minerals Technologies's dividend payout ratio (DPR) is currently 8.49%.

Hedge Funds Weigh In On Minerals Technologies

Hedge funds have recently made changes to their positions in the business. Blair William & Co. IL boosted its holdings in Minerals Technologies by 3.2% in the fourth quarter. Blair William & Co. IL now owns 5,657 shares of the basic materials company's stock valued at $431,000 after acquiring an additional 177 shares in the last quarter. Blue Trust Inc. increased its position in shares of Minerals Technologies by 21.4% during the fourth quarter. Blue Trust Inc. now owns 1,009 shares of the basic materials company's stock valued at $78,000 after buying an additional 178 shares during the period. Balyasny Asset Management L.P. increased its position in shares of Minerals Technologies by 4.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 5,312 shares of the basic materials company's stock valued at $405,000 after buying an additional 235 shares during the period. Savant Capital LLC raised its stake in Minerals Technologies by 7.4% in the fourth quarter. Savant Capital LLC now owns 3,783 shares of the basic materials company's stock worth $288,000 after buying an additional 260 shares in the last quarter. Finally, QRG Capital Management Inc. lifted its holdings in Minerals Technologies by 4.5% in the fourth quarter. QRG Capital Management Inc. now owns 6,481 shares of the basic materials company's stock worth $494,000 after buying an additional 280 shares during the period. 97.29% of the stock is owned by hedge funds and other institutional investors.

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.