State of Tennessee Treasury Department increased its position in Minerals Technologies Inc (NYSE:MTX) by 4.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 63,987 shares of the basic materials company’s stock after purchasing an additional 2,684 shares during the period. State of Tennessee Treasury Department owned 0.18% of Minerals Technologies worth $3,397,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Point72 Hong Kong Ltd purchased a new stake in shares of Minerals Technologies in the second quarter worth $44,000. Quest Capital Management Inc. ADV bought a new position in Minerals Technologies in the third quarter valued at about $74,000. Tower Research Capital LLC TRC lifted its holdings in Minerals Technologies by 123.4% in the second quarter. Tower Research Capital LLC TRC now owns 2,933 shares of the basic materials company’s stock valued at $157,000 after acquiring an additional 1,620 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in Minerals Technologies in the second quarter valued at about $233,000. Finally, Skylands Capital LLC bought a new position in Minerals Technologies in the second quarter valued at about $260,000. 93.99% of the stock is currently owned by institutional investors.
A number of analysts have commented on MTX shares. Zacks Investment Research cut Minerals Technologies from a “hold” rating to a “sell” rating in a research report on Friday. Berenberg Bank restated a “neutral” rating and issued a $245.00 price target on shares of Minerals Technologies in a research report on Friday, October 25th. Independent Research restated a “neutral” rating and issued a $234.00 price target on shares of Minerals Technologies in a research report on Friday, October 25th. Goldman Sachs Group restated a “neutral” rating and issued a $206.00 price target on shares of Minerals Technologies in a research report on Friday, October 25th. Finally, ValuEngine upgraded Minerals Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, September 14th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. Minerals Technologies currently has a consensus rating of “Hold” and a consensus price target of $233.67.
NYSE:MTX opened at $54.76 on Friday. The company has a current ratio of 2.24, a quick ratio of 1.62 and a debt-to-equity ratio of 0.59. Minerals Technologies Inc has a 12-month low of $45.26 and a 12-month high of $63.75. The stock has a 50-day moving average price of $52.09 and a 200 day moving average price of $53.50. The stock has a market capitalization of $1.92 billion, a P/E ratio of 11.31, a P/E/G ratio of 3.73 and a beta of 1.81.
Minerals Technologies (NYSE:MTX) last released its earnings results on Thursday, October 31st. The basic materials company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.05. Minerals Technologies had a return on equity of 11.08% and a net margin of 8.16%. The firm had revenue of $449.30 million during the quarter, compared to analysts’ expectations of $449.43 million. During the same quarter last year, the business posted $1.27 earnings per share. The firm’s revenue was down 3.2% on a year-over-year basis. On average, research analysts predict that Minerals Technologies Inc will post 4.21 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Monday, November 4th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.37%. The ex-dividend date of this dividend is Friday, November 1st. Minerals Technologies’s dividend payout ratio is currently 4.13%.
In other Minerals Technologies news, SVP Thomas J. Meek sold 7,502 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $45.90, for a total transaction of $344,341.80. Following the completion of the transaction, the senior vice president now owns 65,752 shares in the company, valued at approximately $3,018,016.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Douglas T. Dietrich purchased 1,500 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were purchased at an average price of $47.99 per share, with a total value of $71,985.00. Following the acquisition, the chief executive officer now directly owns 71,841 shares in the company, valued at $3,447,649.59. The disclosure for this purchase can be found here. Company insiders own 2.50% of the company’s stock.
Minerals Technologies Company Profile
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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