Minerals Technologies (NYSE:MTX) Sets New 52-Week Low Following Analyst Downgrade

Shares of Minerals Technologies Inc. (NYSE:MTX - Get Free Report) hit a new 52-week low during trading on Monday after Truist Financial lowered their price target on the stock from $92.00 to $80.00. Truist Financial currently has a buy rating on the stock. Minerals Technologies traded as low as $52.33 and last traded at $53.03, with a volume of 146 shares traded. The stock had previously closed at $52.98.

Separately, StockNews.com cut shares of Minerals Technologies from a "buy" rating to a "hold" rating in a report on Wednesday, April 9th.

Institutional Trading of Minerals Technologies

Hedge funds have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC raised its stake in Minerals Technologies by 181.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 506 shares of the basic materials company's stock valued at $38,000 after acquiring an additional 326 shares in the last quarter. Quarry LP raised its stake in Minerals Technologies by 536.5% during the 4th quarter. Quarry LP now owns 732 shares of the basic materials company's stock valued at $56,000 after acquiring an additional 617 shares in the last quarter. Blue Trust Inc. raised its stake in Minerals Technologies by 21.4% during the 4th quarter. Blue Trust Inc. now owns 1,009 shares of the basic materials company's stock valued at $78,000 after acquiring an additional 178 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in shares of Minerals Technologies in the 4th quarter worth $78,000. Finally, KBC Group NV raised its stake in shares of Minerals Technologies by 43.9% in the 4th quarter. KBC Group NV now owns 1,478 shares of the basic materials company's stock worth $113,000 after buying an additional 451 shares in the last quarter. Institutional investors own 97.29% of the company's stock.

Minerals Technologies Stock Up 0.9 %

The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.98 and a current ratio of 2.84. The stock has a 50 day moving average price of $62.28 and a 200 day moving average price of $72.17. The company has a market cap of $1.64 billion, a P/E ratio of 9.95 and a beta of 1.25.

Minerals Technologies (NYSE:MTX - Get Free Report) last posted 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 return on equity of 11.49% and a net margin of 7.89%. The firm had revenue of $491.80 million during the quarter, compared to the consensus estimate of $502.03 million. During the same period in the prior year, the firm posted $1.49 EPS. The firm's quarterly revenue was down 8.0% on a year-over-year basis. Research analysts expect that Minerals Technologies Inc. will post 6.62 earnings per share for the current fiscal year.

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.