Assenagon Asset Management S.A. Has $1.29 Million Stock Position in Minerals Technologies Inc. (NYSE:MTX)

Assenagon Asset Management S.A. raised its holdings in shares of Minerals Technologies Inc. (NYSE:MTX) by 29.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,261 shares of the basic materials company’s stock after purchasing an additional 4,584 shares during the period. Assenagon Asset Management S.A.’s holdings in Minerals Technologies were worth $1,288,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of MTX. SG Americas Securities LLC raised its stake in shares of Minerals Technologies by 341.8% during the first quarter. SG Americas Securities LLC now owns 8,394 shares of the basic materials company’s stock worth $534,000 after buying an additional 6,494 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new stake in Minerals Technologies during the 1st quarter worth $652,000. Wedge Capital Management L L P NC raised its position in shares of Minerals Technologies by 13.3% during the 1st quarter. Wedge Capital Management L L P NC now owns 20,639 shares of the basic materials company’s stock valued at $1,312,000 after acquiring an additional 2,419 shares during the last quarter. Vest Financial LLC acquired a new position in shares of Minerals Technologies in the 1st quarter valued at $1,475,000. Finally, GAMMA Investing LLC lifted its stake in shares of Minerals Technologies by 15,381.2% in the 1st quarter. GAMMA Investing LLC now owns 13,159 shares of the basic materials company’s stock valued at $837,000 after purchasing an additional 13,074 shares during the period. Institutional investors own 97.29% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Erik Aldag purchased 1,000 shares of the business’s stock in a transaction on Wednesday, April 30th. The shares were purchased at an average price of $50.37 per share, with a total value of $50,370.00. Following the completion of the purchase, the chief financial officer now owns 4,245 shares in the company, valued at $213,820.65. This represents a 30.82% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders acquired 2,370 shares of company stock worth $124,255 over the last ninety days. 3.50% of the stock is currently owned by corporate insiders.

Minerals Technologies Stock Down 1.0%

Shares of NYSE MTX opened at $54.04 on Wednesday. Minerals Technologies Inc. has a 52-week low of $49.54 and a 52-week high of $90.30. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.31 and a current ratio of 1.89. The stock has a market cap of $1.71 billion, a P/E ratio of -70.18 and a beta of 1.22. The firm has a 50 day moving average price of $56.52 and a 200 day moving average price of $66.61.

Minerals Technologies (NYSE:MTX) last announced its quarterly earnings results on Thursday, April 24th. The basic materials company reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.02). Minerals Technologies had a negative net margin of 1.14% and a positive return on equity of 10.90%. The firm had revenue of $491.80 million during the quarter, compared to analyst estimates of $502.03 million. During the same period last year, the firm earned $1.49 EPS. Minerals Technologies’s quarterly revenue was down 8.0% on a year-over-year basis. Analysts expect that Minerals Technologies Inc. will post 6.62 EPS for the current year.

Minerals Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 30th were paid a $0.11 dividend. The ex-dividend date was Friday, May 30th. This represents a $0.44 dividend on an annualized basis and a yield of 0.81%. Minerals Technologies’s payout ratio is -57.14%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Wall Street Zen lowered Minerals Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, April 9th. Truist Financial reduced their target price on Minerals Technologies from $92.00 to $80.00 and set a “buy” rating on the stock in a report on Monday, April 28th.

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.