Dean Capital Management Boosts Position in Minerals Technologies Inc. $MTX

Dean Capital Management boosted its holdings in Minerals Technologies Inc. (NYSE:MTX) by 74.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,842 shares of the basic materials company’s stock after purchasing an additional 11,447 shares during the quarter. Dean Capital Management owned about 0.09% of Minerals Technologies worth $1,904,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC boosted its holdings in shares of 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 buying an additional 514 shares in the last quarter. Parallel Advisors LLC raised its stake in Minerals Technologies by 36.0% during the 1st quarter. Parallel Advisors LLC now owns 552 shares of the basic materials company’s stock worth $39,000 after acquiring an additional 146 shares in the last quarter. Torren Management LLC purchased a new stake in Minerals Technologies in the fourth quarter valued at $50,000. Danske Bank A S purchased a new stake in Minerals Technologies in the third quarter valued at $56,000. Finally, Strs Ohio acquired a new position in Minerals Technologies in the first quarter valued at $70,000. 97.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Minerals Technologies

In other Minerals Technologies news, VP Timothy Jordan sold 6,000 shares of the company’s 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 directly owned 1,279 shares of the company’s stock, valued at $102,665.33. This represents a 82.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.70% of the stock is owned by company insiders.

Minerals Technologies Stock Down 0.1%

Shares of NYSE:MTX opened at $74.49 on Monday. Minerals Technologies Inc. has a 1-year low of $53.94 and a 1-year high of $84.34. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.13 and a quick ratio of 1.47. The stock has a market cap of $2.31 billion, a P/E ratio of 14.41 and a beta of 1.15. The firm has a fifty day moving average price of $75.77 and a 200 day moving average price of $72.47.

Minerals Technologies (NYSE:MTX) last posted its quarterly earnings data 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. Minerals Technologies had a net margin of 7.60% and a return on equity of 10.40%. The company had revenue of $546.90 million for the quarter, compared to analyst estimates of $516.39 million. During the same period in the previous year, the business posted $1.14 earnings per share. Minerals Technologies’s quarterly revenue was up 11.2% on a year-over-year basis. Sell-side analysts predict that Minerals Technologies Inc. will post 6.34 EPS for the current year.

Minerals Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Friday, August 14th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.6%. The ex-dividend date is Friday, August 14th. Minerals Technologies’s payout ratio is 9.28%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on MTX shares. Truist Financial lifted their target price on Minerals Technologies from $89.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Seaport Research Partners reissued a “buy” rating on shares of Minerals Technologies in a research report on Monday, May 4th. Wall Street Zen upgraded Minerals Technologies from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 4th. Finally, Weiss Ratings raised Minerals Technologies from a “sell (d+)” rating to a “hold (c+)” rating in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Minerals Technologies has a consensus rating of “Hold” and a consensus price target of $90.00.

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.