Minerals Technologies (NYSE:MTX) Reaches New 52-Week Low – Time to Sell?

Minerals Technologies Inc. (NYSE:MTX) reached 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 trading hands. The stock had previously closed at $67.17.

Analysts Set New Price Targets

MTX has been the subject of a number of analyst reports. Truist Financial dropped their target price on shares of 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 lowered shares of Minerals Technologies from a “buy” rating to a “hold” rating in a report on Wednesday.

Minerals Technologies Trading Down 3.3 %

The company has a market capitalization of $2.07 billion, a PE ratio of 12.56 and a beta of 1.28. The stock’s fifty day moving average price is $72.06 and its two-hundred day moving average price is $75.46. 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) last released its quarterly 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 net margin of 7.89% and a return on equity of 11.49%. Sell-side analysts anticipate that Minerals Technologies Inc. will post 6.62 earnings per share for the current year.

Minerals Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders 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 0.68%. The ex-dividend date of this dividend was Friday, February 14th. Minerals Technologies’s dividend payout ratio is 8.49%.

Institutional Investors Weigh In On Minerals Technologies

Several institutional investors and hedge funds have recently made changes to their positions in MTX. FMR LLC increased its position in shares of Minerals Technologies by 42.7% during the fourth quarter. FMR LLC now owns 1,761,925 shares of the basic materials company’s stock valued at $134,276,000 after acquiring an additional 527,206 shares in the last quarter. Norges Bank bought a new stake in shares of Minerals Technologies during the fourth quarter valued at approximately $16,360,000. American Century Companies Inc. increased its position in shares of Minerals Technologies by 31.1% during the fourth quarter. American Century Companies Inc. now owns 861,173 shares of the basic materials company’s stock valued at $65,630,000 after acquiring an additional 204,371 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Minerals Technologies in the fourth quarter worth approximately $10,797,000. Finally, Foundry Partners LLC purchased a new stake in Minerals Technologies in the fourth quarter worth approximately $7,735,000. Institutional investors own 97.29% of the company’s stock.

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.