Assenagon Asset Management S.A. Acquires New Holdings in Minerals Technologies Inc. $MTX

Assenagon Asset Management S.A. acquired a new stake in Minerals Technologies Inc. (NYSE:MTX) during the 1st quarter, Holdings Channel reports. The fund acquired 14,131 shares of the basic materials company’s stock, valued at approximately $1,002,000.

A number of other large investors have also recently added to or reduced their stakes in MTX. SG Capital Management LLC raised its stake in shares of Minerals Technologies by 137.1% in the 4th 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 during the period. Caption Management LLC raised its position in Minerals Technologies by 102.7% in the 4th quarter. Caption Management LLC now owns 5,375 shares of the basic materials company’s stock valued at $328,000 after buying an additional 205,375 shares during the last quarter. Brandes Investment Partners LP lifted its stake in Minerals Technologies by 22.9% in 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 acquiring an additional 152,950 shares in the last quarter. Invenomic Capital Management LP acquired a new position in Minerals Technologies during the 4th quarter worth approximately $7,058,000. Finally, Ameriprise Financial Inc. boosted its position in Minerals Technologies by 26.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 496,215 shares of the basic materials company’s stock worth $27,327,000 after acquiring an additional 103,853 shares during the last quarter. Institutional investors own 97.29% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on MTX. Wall Street Zen downgraded shares of Minerals Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 13th. Seaport Research Partners reiterated a “buy” rating on shares of Minerals Technologies in a research note on Monday, May 4th. Truist Financial upped their price objective on Minerals Technologies from $89.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Finally, Weiss Ratings upgraded shares of Minerals Technologies from a “sell (d+)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. One 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.com, the company presently has an average rating of “Hold” and an average price target of $90.00.

Minerals Technologies Price Performance

Minerals Technologies stock opened at $74.30 on Friday. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of 14.37 and a beta of 1.15. 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 Inc. has a 12 month low of $53.94 and a 12 month high of $84.34. The stock’s 50 day moving average is $76.61 and its 200-day moving average is $71.13.

Minerals Technologies (NYSE:MTX) last posted its quarterly earnings data on Thursday, April 30th. The basic materials company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.12. The firm had revenue of $546.90 million during the quarter, compared to the consensus estimate of $516.39 million. Minerals Technologies had a net margin of 7.60% and a return on equity of 10.40%. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.14 EPS. Equities research 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. Investors of record on Tuesday, June 2nd were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Tuesday, June 2nd. Minerals Technologies’s dividend payout ratio is presently 9.28%.

Insider Activity at Minerals Technologies

In related news, VP Timothy Jordan sold 6,000 shares of Minerals Technologies stock in a transaction that occurred on 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.70% of the company’s stock.

About Minerals Technologies

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.