Strs Ohio Has $908,000 Stake in Minerals Technologies Inc. $MTX

Strs Ohio lifted its position in shares of Minerals Technologies Inc. (NYSE:MTX) by 184.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,800 shares of the basic materials company’s stock after purchasing an additional 8,300 shares during the period. Strs Ohio’s holdings in Minerals Technologies were worth $908,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in MTX. EverSource Wealth Advisors LLC increased its position in Minerals Technologies by 626.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 596 shares of the basic materials company’s stock worth $33,000 after buying an additional 514 shares during the period. Torren Management LLC acquired a new stake in shares of Minerals Technologies during the fourth quarter worth $50,000. Danske Bank A S bought a new stake in shares of Minerals Technologies in the third quarter valued at about $56,000. Smartleaf Asset Management LLC boosted its position in shares of Minerals Technologies by 136.2% in the second quarter. Smartleaf Asset Management LLC now owns 1,278 shares of the basic materials company’s stock valued at $71,000 after acquiring an additional 737 shares during the period. Finally, First Horizon Corp grew its stake in shares of Minerals Technologies by 120.9% in the fourth quarter. First Horizon Corp now owns 1,228 shares of the basic materials company’s stock valued at $75,000 after acquiring an additional 672 shares in the last quarter. 97.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MTX has been the topic of a number of recent research reports. Seaport Research Partners reaffirmed a “buy” rating on shares of Minerals Technologies in a research report on Monday, May 4th. Wall Street Zen upgraded shares of Minerals Technologies from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 4th. Truist Financial raised their target price on shares of 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 upgraded shares of 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 assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $90.00.

Minerals Technologies Trading Down 1.2%

MTX opened at $72.18 on Thursday. Minerals Technologies Inc. has a twelve month low of $53.94 and a twelve month high of $84.34. The company has a 50-day simple moving average of $76.77 and a 200 day simple moving average of $71.45. The company has a quick ratio of 1.47, a current ratio of 2.13 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of 13.96 and a beta of 1.15.

Minerals Technologies (NYSE:MTX) last released its earnings results on Thursday, April 30th. The basic materials company reported $1.38 EPS for the quarter, beating the consensus estimate 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 net margin of 7.60% and a return on equity of 10.40%. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period last year, the firm earned $1.14 EPS. Analysts predict that Minerals Technologies Inc. will post 6.33 EPS for the current fiscal year.

Minerals Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Tuesday, June 2nd were given a dividend of $0.12 per share. The ex-dividend date was Tuesday, June 2nd. This represents a $0.48 annualized dividend and a dividend yield of 0.7%. Minerals Technologies’s dividend payout ratio (DPR) is currently 9.28%.

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 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 in the company, valued at $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 Securities & Exchange Commission, which is available at the SEC website. 3.70% of the stock is owned by company 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.