Minerals Technologies (MTX) Reaches New 1-Year Low at $51.50

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Shares of Minerals Technologies Inc (NYSE:MTX) hit a new 52-week low on Thursday . The company traded as low as $51.50 and last traded at $52.43, with a volume of 2742 shares changing hands. The stock had previously closed at $54.36.

A number of analysts recently weighed in on MTX shares. Zacks Investment Research lowered shares of Minerals Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, November 7th. TheStreet lowered shares of Minerals Technologies from a “b-” rating to a “c+” rating in a report on Tuesday, October 30th. Finally, ValuEngine lowered shares of Minerals Technologies from a “hold” rating to a “sell” rating in a report on Monday, October 8th.

The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.57 and a current ratio of 2.15. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of 11.04, a P/E/G ratio of 1.26 and a beta of 2.16.

Minerals Technologies (NYSE:MTX) last issued its quarterly earnings results on Thursday, November 1st. The basic materials company reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.02. The business had revenue of $464.10 million during the quarter, compared to analyst estimates of $464.20 million. Minerals Technologies had a net margin of 11.38% and a return on equity of 12.91%. Minerals Technologies’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.19 earnings per share. Equities research analysts anticipate that Minerals Technologies Inc will post 4.84 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 7th. Investors of record on Monday, November 26th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date was Friday, November 23rd. Minerals Technologies’s dividend payout ratio is currently 4.36%.

In other Minerals Technologies news, VP Andrew M. Jones sold 7,486 shares of the firm’s stock in a transaction that occurred on Friday, November 16th. The shares were sold at an average price of $57.31, for a total value of $429,022.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.40% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in Minerals Technologies by 1.3% in the third quarter. Vanguard Group Inc. now owns 3,249,318 shares of the basic materials company’s stock valued at $219,654,000 after acquiring an additional 41,020 shares during the last quarter. Morgan Stanley boosted its stake in Minerals Technologies by 16.6% in the third quarter. Morgan Stanley now owns 151,822 shares of the basic materials company’s stock valued at $10,262,000 after acquiring an additional 21,621 shares during the last quarter. Teachers Advisors LLC boosted its stake in Minerals Technologies by 3.1% in the third quarter. Teachers Advisors LLC now owns 83,238 shares of the basic materials company’s stock valued at $5,627,000 after acquiring an additional 2,464 shares during the last quarter. Macquarie Group Ltd. boosted its stake in Minerals Technologies by 15.7% in the third quarter. Macquarie Group Ltd. now owns 1,444,320 shares of the basic materials company’s stock valued at $97,636,000 after acquiring an additional 195,654 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in shares of Minerals Technologies by 62.6% during the third quarter. Thrivent Financial for Lutherans now owns 126,478 shares of the basic materials company’s stock worth $8,550,000 after purchasing an additional 48,715 shares in the last quarter. 93.99% of the stock is currently owned by hedge funds and other institutional investors.

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About Minerals Technologies (NYSE:MTX)

Minerals Technologies Inc develops, produces, and markets various specialty mineral, mineral-based, and synthetic mineral products, and supporting systems and services worldwide. The company's Specialty Minerals segment produces and sells precipitated calcium carbonate and quicklime; and provides natural mineral products comprising limestone and talc.

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