CWM Advisors LLC bought a new position in Minerals Technologies Inc (NYSE:MTX) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 7,221 shares of the basic materials company’s stock, valued at approximately $262,000.
A number of other institutional investors also recently added to or reduced their stakes in the business. Private Capital Group LLC boosted its holdings in Minerals Technologies by 26.2% in the first quarter. Private Capital Group LLC now owns 1,229 shares of the basic materials company’s stock worth $45,000 after acquiring an additional 255 shares in the last quarter. Advisor Group Inc. raised its stake in shares of Minerals Technologies by 25.3% in the fourth quarter. Advisor Group Inc. now owns 1,342 shares of the basic materials company’s stock worth $77,000 after purchasing an additional 271 shares during the last quarter. Amalgamated Bank raised its stake in shares of Minerals Technologies by 7.4% in the fourth quarter. Amalgamated Bank now owns 5,819 shares of the basic materials company’s stock worth $335,000 after purchasing an additional 399 shares during the last quarter. FMR LLC raised its stake in shares of Minerals Technologies by 5.0% in the fourth quarter. FMR LLC now owns 8,417 shares of the basic materials company’s stock worth $486,000 after purchasing an additional 400 shares during the last quarter. Finally, Swiss National Bank raised its stake in shares of Minerals Technologies by 0.7% in the first quarter. Swiss National Bank now owns 67,600 shares of the basic materials company’s stock worth $2,451,000 after purchasing an additional 500 shares during the last quarter. 97.13% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have recently weighed in on MTX. ValuEngine cut Minerals Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, April 2nd. Sidoti began coverage on Minerals Technologies in a research note on Wednesday, April 8th. They issued a “buy” rating for the company. CL King upgraded Minerals Technologies from a “neutral” rating to a “buy” rating and set a $55.00 price target for the company in a research note on Monday, May 4th. TheStreet cut Minerals Technologies from a “b-” rating to a “c+” rating in a research note on Tuesday, February 18th. Finally, Zacks Investment Research upgraded Minerals Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, April 7th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $55.00.
Minerals Technologies (NYSE:MTX) last issued its quarterly earnings results on Thursday, April 30th. The basic materials company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.18. The business had revenue of $417.50 million during the quarter, compared to analysts’ expectations of $427.83 million. Minerals Technologies had a return on equity of 10.41% and a net margin of 7.47%. The business’s quarterly revenue was down 4.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.11 earnings per share. As a group, sell-side analysts predict that Minerals Technologies Inc will post 4.11 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date is Wednesday, May 27th. Minerals Technologies’s payout ratio is 4.73%.
In related news, CEO Douglas T. Dietrich purchased 1,500 shares of Minerals Technologies stock in a transaction on Friday, March 27th. The stock was acquired at an average price of $34.41 per share, for a total transaction of $51,615.00. Following the completion of the transaction, the chief executive officer now directly owns 82,386 shares in the company, valued at approximately $2,834,902.26. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.80% of the company’s stock.
Minerals Technologies Profile
Minerals Technologies Inc develops, produces, and markets various specialty mineral, mineral-based, and synthetic mineral products, and supporting systems and services worldwide. The company's Specialty Minerals segment produces and sells precipitated calcium carbonate and quicklime; and provides natural mineral products comprising limestone and talc.
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