Minerals Technologies (NYSE:MTX) Reaches New 12-Month Low Following Analyst Downgrade

Minerals Technologies Inc. (NYSE:MTX - Get Free Report)'s share price reached 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 changing hands. The stock had previously closed at $52.98.

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

Insider Activity at Minerals Technologies

In other news, CFO Erik Aldag acquired 1,000 shares of the business's stock in a transaction that occurred on Wednesday, April 30th. The shares were purchased at an average cost of $50.37 per share, for a total transaction of $50,370.00. Following the transaction, the chief financial officer now directly owns 4,245 shares in the company, valued at $213,820.65. This trade represents a 30.82 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.50% of the company's stock.

Institutional Trading of Minerals Technologies

Several hedge funds have recently added to or reduced their stakes in the business. Barclays PLC raised its stake in shares of Minerals Technologies by 210.1% during the third 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 in the last quarter. Tidal Investments LLC raised its position in shares of Minerals Technologies by 14.6% during the 3rd quarter. Tidal Investments LLC now owns 7,454 shares of the basic materials company's stock worth $576,000 after buying an additional 948 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of Minerals Technologies by 21.1% in the 3rd quarter. Franklin Resources Inc. now owns 47,847 shares of the basic materials company's stock worth $3,728,000 after acquiring an additional 8,335 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Minerals Technologies by 2.0% in 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 acquiring an additional 3,230 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Minerals Technologies by 9.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 115,887 shares of the basic materials company's stock valued at $8,950,000 after purchasing an additional 10,284 shares in the last quarter. Institutional investors own 97.29% of the company's stock.

Minerals Technologies Trading Up 0.7 %

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 company has a market capitalization of $1.69 billion, a price-to-earnings ratio of 10.24 and a beta of 1.25. The firm has a 50-day moving average price of $61.22 and a 200-day moving average price of $71.69.

Minerals Technologies (NYSE:MTX - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The basic materials company reported $1.14 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.02). The company had revenue of $491.80 million for the quarter, compared to the consensus estimate of $502.03 million. Minerals Technologies had a return on equity of 11.49% and a net margin of 7.89%. The business's revenue was down 8.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.49 earnings per share. As a group, sell-side analysts predict that Minerals Technologies Inc. will post 6.62 EPS for the current year.

About Minerals Technologies

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.