Diversified Trust Co. Sells 7,868 Shares of Minerals Technologies Inc. $MTX

Diversified Trust Co. trimmed its position in shares of Minerals Technologies Inc. (NYSE:MTX) by 61.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 4,929 shares of the basic materials company’s stock after selling 7,868 shares during the period. Diversified Trust Co.’s holdings in Minerals Technologies were worth $300,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its position in Minerals Technologies by 626.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 596 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 514 shares during the period. First Horizon Corp acquired a new position in Minerals Technologies during the third quarter worth $35,000. Danske Bank A S acquired a new position in Minerals Technologies during the third quarter worth $56,000. Strs Ohio bought a new position in shares of Minerals Technologies in the first quarter valued at $70,000. Finally, Smartleaf Asset Management LLC lifted its stake in shares of Minerals Technologies by 136.2% in the second quarter. Smartleaf Asset Management LLC now owns 1,278 shares of the basic materials company’s stock valued at $71,000 after buying an additional 737 shares in the last quarter. 97.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Minerals Technologies Price Performance

Shares of NYSE:MTX opened at $70.50 on Monday. The company has a current ratio of 2.08, a quick ratio of 1.45 and a debt-to-equity ratio of 0.55. The stock has a market cap of $2.19 billion, a PE ratio of -138.23 and a beta of 1.24. The stock’s fifty day simple moving average is $69.61 and its two-hundred day simple moving average is $63.72. Minerals Technologies Inc. has a 1-year low of $49.54 and a 1-year high of $75.29.

Minerals Technologies (NYSE:MTX) last posted its earnings results on Thursday, January 29th. The basic materials company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.01). The firm had revenue of $519.50 million during the quarter, compared to the consensus estimate of $517.83 million. Minerals Technologies had a positive return on equity of 10.22% and a negative net margin of 0.89%.The business’s revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.28 EPS. As a group, analysts forecast that Minerals Technologies Inc. will post 6.62 EPS for the current fiscal year.

Minerals Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Friday, February 13th were given 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 is presently -94.12%.

Minerals Technologies Company 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.