Minerals Technologies (NYSE:MTX) Sets New 1-Year Low – Here’s What Happened

Minerals Technologies Inc. (NYSE:MTX) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $52.33 and last traded at $53.03, with a volume of 146 shares changing hands. The stock had previously closed at $52.98.

Analyst Upgrades and Downgrades

MTX has been the subject of a number of analyst reports. Truist Financial cut their price target on Minerals Technologies from $101.00 to $92.00 and set a “buy” rating for the company in a research note on Monday, April 14th. StockNews.com cut shares of Minerals Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, April 9th.

Minerals Technologies Price Performance

The company has a current ratio of 2.84, a quick ratio of 1.98 and a debt-to-equity ratio of 0.54. The firm has a market cap of $1.68 billion, a P/E ratio of 10.21 and a beta of 1.25. The business’s fifty day simple moving average is $63.09 and its 200-day simple moving average is $72.50.

Minerals Technologies (NYSE:MTX) last released its quarterly earnings data on Thursday, April 24th. The basic materials company reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.02). Minerals Technologies had a net margin of 7.89% and a return on equity of 11.49%. The firm had revenue of $491.80 million during the quarter, compared to the consensus estimate of $502.03 million. As a group, analysts forecast that Minerals Technologies Inc. will post 6.62 EPS for the current fiscal year.

Institutional Investors Weigh In On Minerals Technologies

Large investors have recently added to or reduced their stakes in the company. Barclays PLC grew its holdings in shares of Minerals Technologies by 210.1% during the 3rd quarter. Barclays PLC now owns 111,526 shares of the basic materials company’s stock valued at $8,615,000 after purchasing an additional 75,565 shares during the last quarter. Tidal Investments LLC boosted its position in Minerals Technologies by 14.6% during the 3rd quarter. Tidal Investments LLC now owns 7,454 shares of the basic materials company’s stock valued at $576,000 after buying an additional 948 shares during the period. Franklin Resources Inc. increased its holdings in Minerals Technologies by 21.1% during the 3rd quarter. Franklin Resources Inc. now owns 47,847 shares of the basic materials company’s stock valued at $3,728,000 after purchasing an additional 8,335 shares during the period. Principal Financial Group Inc. increased its stake in shares of Minerals Technologies by 2.0% during the third quarter. Principal Financial Group Inc. now owns 162,291 shares of the basic materials company’s stock valued at $12,534,000 after buying an additional 3,230 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in shares of Minerals Technologies by 9.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 115,887 shares of the basic materials company’s stock worth $8,950,000 after purchasing an additional 10,284 shares during the period. Hedge funds and other 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.