OP Asset Management Ltd Makes New $1.28 Million Investment in Minerals Technologies Inc. $MTX

OP Asset Management Ltd purchased a new position in shares of Minerals Technologies Inc. (NYSE:MTX) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 18,079 shares of the basic materials company’s stock, valued at approximately $1,282,000. OP Asset Management Ltd owned approximately 0.06% of Minerals Technologies as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its position 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 period. CSM Advisors LLC raised its holdings 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 buying an additional 15,384 shares during the period. Brandes Investment Partners LP raised its holdings in 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 worth $49,973,000 after buying an additional 152,950 shares during the period. UBS Group AG lifted its stake in Minerals Technologies by 49.5% in the fourth quarter. UBS Group AG now owns 38,541 shares of the basic materials company’s stock valued at $2,349,000 after buying an additional 12,761 shares in the last quarter. Finally, LSV Asset Management lifted its stake in Minerals Technologies by 12.2% in the fourth quarter. LSV Asset Management now owns 211,522 shares of the basic materials company’s stock valued at $12,892,000 after buying an additional 23,000 shares in the last quarter. Institutional investors and hedge funds own 97.29% of the company’s stock.

Insider Transactions at Minerals Technologies

In related news, VP Timothy Jordan sold 6,000 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $80.27, for a total transaction of $481,620.00. Following the sale, the vice president owned 1,279 shares in the company, valued at approximately $102,665.33. This represents a 82.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 3.70% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MTX. Seaport Research Partners reissued a “buy” rating on shares of Minerals Technologies in a research report on Monday, May 4th. Wall Street Zen lowered shares of Minerals Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 13th. Truist Financial increased their target price on Minerals Technologies from $89.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Finally, Weiss Ratings raised 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 given a Hold rating to the company. According to data from MarketBeat, Minerals Technologies currently has an average rating of “Hold” and a consensus target price of $90.00.

Minerals Technologies Stock Performance

Shares of MTX opened at $77.27 on Tuesday. The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of 14.95 and a beta of 1.13. Minerals Technologies Inc. has a 12 month low of $53.94 and a 12 month high of $84.34. The firm has a fifty day simple moving average of $76.49 and a 200 day simple moving average of $70.86. 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 issued its quarterly earnings results on Thursday, April 30th. The basic materials company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.12. Minerals Technologies had a net margin of 7.60% and a return on equity of 10.40%. The firm 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 earned $1.14 EPS. The company’s revenue was up 11.2% compared to the same quarter last year. Research analysts forecast that Minerals Technologies Inc. will post 6.33 EPS for the current fiscal year.

Minerals Technologies Dividend Announcement

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

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.