Minerals Technologies Inc. $MTX Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its stake in shares of Minerals Technologies Inc. (NYSE:MTX) by 24.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 156,584 shares of the basic materials company’s stock after purchasing an additional 30,443 shares during the period. JPMorgan Chase & Co. owned approximately 0.50% of Minerals Technologies worth $9,727,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. American Century Companies Inc. lifted its stake in shares of Minerals Technologies by 20.3% in the second quarter. American Century Companies Inc. now owns 1,284,532 shares of the basic materials company’s stock valued at $70,739,000 after purchasing an additional 216,453 shares during the period. Geode Capital Management LLC grew its position in Minerals Technologies by 0.6% during the second quarter. Geode Capital Management LLC now owns 911,831 shares of the basic materials company’s stock worth $50,220,000 after buying an additional 5,348 shares during the period. Brandes Investment Partners LP grew its position in Minerals Technologies by 436.3% during the second quarter. Brandes Investment Partners LP now owns 538,073 shares of the basic materials company’s stock worth $29,632,000 after buying an additional 437,734 shares during the period. First Trust Advisors LP increased its holdings in Minerals Technologies by 0.7% in the second quarter. First Trust Advisors LP now owns 532,975 shares of the basic materials company’s stock valued at $29,351,000 after buying an additional 3,786 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in Minerals Technologies by 26.5% in the second quarter. Ameriprise Financial Inc. now owns 496,215 shares of the basic materials company’s stock valued at $27,327,000 after buying an additional 103,853 shares in the last quarter. 97.29% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Minerals Technologies

In other Minerals Technologies news, insider Dj Monagle III sold 23,093 shares of Minerals Technologies stock in a transaction dated Monday, December 29th. The stock was sold at an average price of $61.90, for a total value of $1,429,456.70. Following the completion of the sale, the insider owned 84,349 shares in the company, valued at $5,221,203.10. The trade was a 21.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.30% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MTX. Truist Financial boosted their price target on Minerals Technologies from $84.00 to $89.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. Zacks Research raised Minerals Technologies from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 14th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Minerals Technologies in a report on Monday, December 22nd. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Minerals Technologies currently has an average rating of “Hold” and an average price target of $89.00.

Minerals Technologies Stock Performance

Shares of MTX opened at $67.38 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.45 and a current ratio of 2.08. The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of -132.12 and a beta of 1.24. The company’s 50 day simple moving average is $68.34 and its 200 day simple moving average is $63.23. Minerals Technologies Inc. has a 1 year low of $49.54 and a 1 year high of $75.29.

Minerals Technologies (NYSE:MTX) last issued its quarterly earnings results on Thursday, January 29th. The basic materials company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.01). Minerals Technologies had a negative net margin of 0.89% and a positive return on equity of 10.22%. The business had revenue of $519.50 million during the quarter, compared to analyst estimates of $517.83 million. During the same quarter last year, the firm posted $1.28 earnings per share. The company’s revenue was up .3% on a year-over-year basis. On average, sell-side analysts predict that Minerals Technologies Inc. will post 6.62 EPS for the current year.

Minerals Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Friday, February 13th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Friday, February 13th. Minerals Technologies’s dividend payout ratio (DPR) is presently -94.12%.

Minerals Technologies Profile

Minerals Technologies Inc develops, produces and processes a broad range of mineral-based products and solutions that serve a variety of industrial applications. Its offerings include bentonite, perlite, precipitated calcium carbonate (PCC), mineral sands, foundry additives, performance minerals and specialty chemicals designed to enhance performance in markets such as paper, steel, construction, oil and gas, environmental remediation and consumer products.

The company operates through several business segments, including Specialty Minerals, Refractory Minerals, Performance Materials and Recycled Materials.