Minerals Technologies (NYSE:MTX) Stock Price Down 3.3% - What's Next?

Key Points

• Minerals Technologies Inc.'s stock price fell by 3.3% to $59.49, with approximately 16,282 shares traded, a significant drop from its average daily volume of 231,678 shares.
• Investment analysts have mixed opinions on the stock, with Weiss Ratings giving a "sell" rating, while Truist Financial raised its target price to $84.00 and recommended a "buy" rating.
• The company declared an increase in its quarterly dividend from $0.11 to $0.12 per share, which will be paid on December 4th, indicating a positive change for shareholders.

Minerals Technologies Inc. (NYSE:MTX - Get Free Report)'s stock price was down 3.3% during trading on Friday . The stock traded as low as $57.94 and last traded at $59.49. Approximately 16,282 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 231,678 shares. The stock had previously closed at $61.50.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on MTX shares. Weiss Ratings restated a "sell (d+)" rating on shares of Minerals Technologies in a research note on Wednesday, October 8th. Truist Financial boosted their target price on shares of Minerals Technologies from $80.00 to $84.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Finally, Wall Street Zen downgraded shares of Minerals Technologies from a "strong-buy" rating to a "buy" rating in a research note on Saturday, October 18th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $84.00.

Minerals Technologies Trading Down 2.5%

The company's 50-day moving average is $62.25 and its 200-day moving average is $58.91. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of 999.00 and a beta of 1.23. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.35 and a current ratio of 1.95.

Minerals Technologies (NYSE:MTX - Get Free Report) last issued its quarterly earnings results on Wednesday, March 15th. The basic materials company reported $1.50 earnings per share (EPS) for the quarter. The business had revenue of $557.00 million for the quarter. Minerals Technologies had a net margin of 0.10% and a return on equity of 10.64%. On average, research analysts predict that Minerals Technologies Inc. will post 6.62 earnings per share for the current year.

Minerals Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Thursday, October 30th will be given a dividend of $0.12 per share. This is a positive change from Minerals Technologies's previous quarterly dividend of $0.11. The ex-dividend date is Thursday, October 30th. This represents a $0.48 annualized dividend and a yield of 0.8%. Minerals Technologies's dividend payout ratio is currently 733.33%.

Institutional Trading of Minerals Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kesler Norman & Wride LLC bought a new stake in Minerals Technologies during the 3rd quarter worth about $575,000. SG Americas Securities LLC raised its holdings in Minerals Technologies by 313.6% during the 3rd quarter. SG Americas Securities LLC now owns 7,767 shares of the basic materials company's stock worth $482,000 after purchasing an additional 5,889 shares during the last quarter. KLP Kapitalforvaltning AS raised its holdings in Minerals Technologies by 14.5% during the 3rd quarter. KLP Kapitalforvaltning AS now owns 7,100 shares of the basic materials company's stock worth $441,000 after purchasing an additional 900 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Minerals Technologies by 0.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 493,432 shares of the basic materials company's stock worth $30,593,000 after purchasing an additional 2,467 shares during the last quarter. Finally, Diversified Trust Co raised its holdings in Minerals Technologies by 7.0% during the 3rd quarter. Diversified Trust Co now owns 12,797 shares of the basic materials company's stock worth $795,000 after purchasing an additional 839 shares during the last quarter. 97.29% of the stock is owned by institutional investors.

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.

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