Minerals Technologies (NYSE:MTX) Stock Price Down 3.3% – Time to Sell?

Minerals Technologies Inc. (NYSE:MTX)’s share price fell 3.3% during trading on Friday . The company traded as low as $57.94 and last traded at $59.49. 16,282 shares were traded during mid-day trading, a decline of 93% from the average session volume of 231,678 shares. The stock had previously closed at $61.50.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MTX. Weiss Ratings reissued a “sell (d+)” rating on shares of Minerals Technologies in a report on Saturday. Wall Street Zen lowered shares of Minerals Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 18th. Finally, Truist Financial raised their target price on shares of Minerals Technologies from $80.00 to $84.00 and gave the stock a “buy” rating in a report on Monday, July 28th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $84.00.

Minerals Technologies Stock Down 3.1%

The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.57. The firm’s 50-day moving average price is $62.23 and its 200 day moving average price is $58.99. The firm has a market cap of $1.87 billion, a P/E ratio of -2,978.76 and a beta of 1.23.

Minerals Technologies (NYSE:MTX) last issued its quarterly earnings data on Wednesday, March 15th. The basic materials company reported $1.50 earnings per share for the quarter. Minerals Technologies had a negative net margin of 0.08% and a positive return on equity of 10.70%. The firm had revenue of $557.00 million for the quarter. As a group, research analysts expect that Minerals Technologies Inc. will post 6.62 earnings per share for the current year.

Minerals Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Stockholders of record on Thursday, October 30th will be given a dividend of $0.12 per share. This is a boost from Minerals Technologies’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Thursday, October 30th. Minerals Technologies’s payout ratio is presently -2,200.00%.

Institutional Trading of Minerals Technologies

Several large investors have recently added to or reduced their stakes in the business. First Horizon Advisors Inc. boosted its position in Minerals Technologies by 161.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 590 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 364 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Minerals Technologies by 626.8% during the second quarter. EverSource Wealth Advisors LLC now owns 596 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 514 shares in the last quarter. Blue Trust Inc. lifted its holdings in Minerals Technologies by 44.6% in the second quarter. Blue Trust Inc. now owns 1,011 shares of the basic materials company’s stock worth $56,000 after purchasing an additional 312 shares during the period. Strs Ohio bought a new position in Minerals Technologies in the 1st quarter valued at about $70,000. Finally, Smartleaf Asset Management LLC increased its stake in Minerals Technologies by 136.2% during the 2nd quarter. Smartleaf Asset Management LLC now owns 1,278 shares of the basic materials company’s stock valued at $71,000 after buying an additional 737 shares during the period. 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.