Eaton Vance Management Has $42.09 Million Stock Position in Minerals Technologies Inc. (NYSE:MTX)


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Eaton Vance Management boosted its stake in shares of Minerals Technologies Inc. (NYSE:MTX) by 18.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 677,482 shares of the basic materials company’s stock after buying an additional 106,964 shares during the period. Eaton Vance Management owned approximately 2.00% of Minerals Technologies worth $42,085,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in MTX. FMR LLC raised its holdings in Minerals Technologies by 426,500.0% during the 1st quarter. FMR LLC now owns 8,532 shares of the basic materials company’s stock worth $501,000 after buying an additional 8,530 shares during the period. First Trust Advisors LP raised its holdings in Minerals Technologies by 4.2% during the 1st quarter. First Trust Advisors LP now owns 33,348 shares of the basic materials company’s stock worth $1,961,000 after buying an additional 1,348 shares during the period. Great West Life Assurance Co. Can raised its holdings in shares of Minerals Technologies by 588.5% in the third quarter. Great West Life Assurance Co. Can now owns 116,548 shares of the basic materials company’s stock valued at $4,188,000 after purchasing an additional 99,621 shares during the last quarter. UBS Asset Management Americas Inc. raised its holdings in shares of Minerals Technologies by 3.2% in the third quarter. UBS Asset Management Americas Inc. now owns 40,759 shares of the basic materials company’s stock valued at $2,083,000 after purchasing an additional 1,249 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Minerals Technologies by 3.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 452,371 shares of the basic materials company’s stock valued at $23,117,000 after purchasing an additional 15,887 shares during the last quarter. Hedge funds and other institutional investors own 94.75% of the company’s stock.

Shares of MTX opened at $76.37 on Thursday. The company has a market cap of $2.58 billion, a price-to-earnings ratio of 23.87, a PEG ratio of 3.30 and a beta of 1.47. Minerals Technologies Inc. has a 1-year low of $34.41 and a 1-year high of $81.40. The company’s fifty day simple moving average is $74.99 and its 200 day simple moving average is $64.30. The company has a current ratio of 3.85, a quick ratio of 2.91 and a debt-to-equity ratio of 0.69.

Minerals Technologies (NYSE:MTX) last issued its earnings results on Thursday, February 4th. The basic materials company reported $1.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.13. The business had revenue of $431.80 million for the quarter, compared to the consensus estimate of $396.91 million. Minerals Technologies had a net margin of 6.88% and a return on equity of 9.20%. As a group, research analysts forecast that Minerals Technologies Inc. will post 3.84 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, March 11th. Investors of record on Friday, February 19th were issued a dividend of $0.05 per share. The ex-dividend date was Thursday, February 18th. This represents a $0.20 dividend on an annualized basis and a yield of 0.26%. Minerals Technologies’s payout ratio is 4.73%.

In other Minerals Technologies news, SVP Douglas W. Mayger sold 24,500 shares of Minerals Technologies stock in a transaction on Tuesday, February 16th. The shares were sold at an average price of $68.36, for a total transaction of $1,674,820.00. Following the completion of the transaction, the senior vice president now directly owns 51,235 shares of the company’s stock, valued at $3,502,424.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Michael Cipolla sold 6,246 shares of Minerals Technologies stock in a transaction on Wednesday, February 24th. The stock was sold at an average price of $72.36, for a total transaction of $451,960.56. Following the transaction, the vice president now directly owns 36,620 shares of the company’s stock, valued at $2,649,823.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,361 shares of company stock worth $3,113,596. 2.80% of the stock is owned by corporate insiders.

A number of analysts have recently issued reports on MTX shares. CL King lifted their price objective on shares of Minerals Technologies from $70.00 to $75.00 and gave the company a “buy” rating in a report on Friday, January 22nd. JPMorgan Chase & Co. downgraded shares of Minerals Technologies from an “overweight” rating to a “neutral” rating and set a $63.00 price objective on the stock. in a report on Thursday, December 17th. Finally, Zacks Investment Research upgraded shares of Minerals Technologies from a “hold” rating to a “buy” rating and set a $84.00 price objective on the stock in a report on Wednesday, March 31st. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $71.75.

About Minerals Technologies

Minerals Technologies Inc develops, produces, and markets various specialty mineral, mineral-based, and synthetic mineral products, and supporting systems and services. The company's Performance Materials segment supplies bentonite and bentonite-related products, as well as chromite and leonardite.

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Institutional Ownership by Quarter for Minerals Technologies (NYSE:MTX)

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