Ritholtz Wealth Management Invests $689,000 in Minerals Technologies Inc. $MTX

Ritholtz Wealth Management bought a new position in Minerals Technologies Inc. (NYSE:MTX) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 9,721 shares of the basic materials company’s stock, valued at approximately $689,000.

Other institutional investors have also added to or reduced their stakes in the company. SG Capital Management LLC raised its position in Minerals Technologies by 137.1% during the fourth quarter. SG Capital Management LLC now owns 148,385 shares of the basic materials company’s stock valued at $9,044,000 after purchasing an additional 548,385 shares in the last quarter. Caption Management LLC boosted its holdings in shares of Minerals Technologies by 102.7% in the 4th quarter. Caption Management LLC now owns 5,375 shares of the basic materials company’s stock worth $328,000 after purchasing an additional 205,375 shares in the last quarter. Brandes Investment Partners LP increased its position in shares of Minerals Technologies by 22.9% during the 4th quarter. Brandes Investment Partners LP now owns 819,908 shares of the basic materials company’s stock valued at $49,973,000 after purchasing an additional 152,950 shares during the last quarter. Invenomic Capital Management LP bought a new position in shares of Minerals Technologies during the 4th quarter valued at about $7,058,000. Finally, Ameriprise Financial Inc. raised its holdings in shares of Minerals Technologies by 26.5% during the 2nd 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. Institutional investors own 97.29% of the company’s stock.

Wall Street Analyst Weigh In

MTX has been the subject of a number of recent research reports. Wall Street Zen downgraded Minerals Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 13th. Seaport Research Partners reissued a “buy” rating on shares of Minerals Technologies in a research note on Monday, May 4th. Truist Financial upped their price objective on shares of Minerals Technologies from $89.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Finally, Weiss Ratings raised shares of Minerals Technologies from a “sell (d+)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $90.00.

Minerals Technologies Stock Down 3.2%

MTX opened at $77.27 on Tuesday. Minerals Technologies Inc. has a 12 month low of $53.94 and a 12 month high of $84.34. The company has a current ratio of 2.13, a quick ratio of 1.47 and a debt-to-equity ratio of 0.54. The business’s 50-day moving average price is $76.49 and its 200-day moving average price is $70.86. The company has a market cap of $2.40 billion, a P/E ratio of 14.95 and a beta of 1.13.

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

Minerals Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Tuesday, June 2nd were given a $0.12 dividend. The ex-dividend date was Tuesday, June 2nd. This represents a $0.48 annualized dividend and a yield of 0.6%. Minerals Technologies’s payout ratio is presently 9.28%.

Insider Buying and Selling at Minerals Technologies

In other news, VP Timothy Jordan sold 6,000 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $80.27, for a total transaction of $481,620.00. Following the completion of the sale, the vice president owned 1,279 shares of the company’s stock, valued at approximately $102,665.33. This represents a 82.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 3.70% of the company’s stock.

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.