AlphaQuest LLC Acquires 20,411 Shares of Minerals Technologies Inc. $MTX

AlphaQuest LLC grew its holdings in Minerals Technologies Inc. (NYSE:MTX) by 281.4% during the 4th quarter, HoldingsChannel reports. The firm owned 27,665 shares of the basic materials company’s stock after purchasing an additional 20,411 shares during the quarter. AlphaQuest LLC’s holdings in Minerals Technologies were worth $1,686,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. increased its stake in shares of Minerals Technologies by 24.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 156,584 shares of the basic materials company’s stock valued at $9,727,000 after purchasing an additional 30,443 shares during the last quarter. CSM Advisors LLC grew its position in Minerals Technologies by 17.3% during the 3rd quarter. CSM Advisors LLC now owns 104,078 shares of the basic materials company’s stock worth $6,464,000 after acquiring an additional 15,384 shares during the last quarter. American Century Companies Inc. grew its position in Minerals Technologies by 3.1% during the 3rd quarter. American Century Companies Inc. now owns 1,324,392 shares of the basic materials company’s stock worth $82,271,000 after acquiring an additional 39,860 shares during the last quarter. LSV Asset Management grew its position in Minerals Technologies by 12.2% during the 4th quarter. LSV Asset Management now owns 211,522 shares of the basic materials company’s stock worth $12,892,000 after acquiring an additional 23,000 shares during the last quarter. Finally, Isthmus Partners LLC grew its position in Minerals Technologies by 43.9% during the 3rd quarter. Isthmus Partners LLC now owns 44,210 shares of the basic materials company’s stock worth $2,746,000 after acquiring an additional 13,488 shares during the last quarter. Institutional investors own 97.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Wall Street Zen upgraded Minerals Technologies from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 2nd. Seaport Research Partners restated a “buy” rating on shares of Minerals Technologies in a research report on Monday, May 4th. Truist Financial boosted their price objective on Minerals Technologies from $89.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Finally, Weiss Ratings upgraded Minerals Technologies from a “sell (d+)” rating to a “hold (c+)” rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Minerals Technologies presently has an average rating of “Hold” and an average target price of $90.00.

Minerals Technologies Trading Up 0.7%

NYSE MTX opened at $78.69 on Thursday. The business’s 50-day moving average price is $73.15 and its two-hundred day moving average price is $67.72. Minerals Technologies Inc. has a 12 month low of $53.10 and a 12 month high of $84.34. The firm has a market capitalization of $2.44 billion, a PE ratio of 15.22 and a beta of 1.12. The company has a current ratio of 2.13, a quick ratio of 1.47 and a debt-to-equity ratio of 0.54.

Minerals Technologies (NYSE:MTX) last released its quarterly earnings results on Thursday, April 30th. The basic materials company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.12. The firm had revenue of $546.90 million for the quarter, compared to analyst estimates of $516.39 million. Minerals Technologies had a return on equity of 10.40% and a net margin of 7.60%.The business’s revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.14 EPS. On average, analysts expect that Minerals Technologies Inc. will post 6.33 EPS for the current year.

Minerals Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Tuesday, June 2nd will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Tuesday, June 2nd. Minerals Technologies’s payout ratio is currently 9.28%.

Insider Activity

In other news, VP Timothy Jordan sold 6,000 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $80.27, for a total value of $481,620.00. Following the transaction, the vice president directly owned 1,279 shares of the company’s stock, valued at $102,665.33. The trade was a 82.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.70% of the stock is owned by corporate insiders.

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.