Minerals Technologies Inc. (NYSE:MTX) Holdings Reduced by Ameriprise Financial Inc.

Ameriprise Financial Inc. decreased its position in Minerals Technologies Inc. (NYSE:MTX) by 6.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 436,225 shares of the basic materials company’s stock after selling 28,512 shares during the period. Ameriprise Financial Inc.’s holdings in Minerals Technologies were worth $33,245,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of MTX. FMR LLC grew its position in Minerals Technologies by 42.7% in the 4th quarter. FMR LLC now owns 1,761,925 shares of the basic materials company’s stock worth $134,276,000 after purchasing an additional 527,206 shares during the last quarter. Norges Bank bought a new stake in shares of Minerals Technologies during the fourth quarter valued at about $16,360,000. American Century Companies Inc. raised its stake in shares of Minerals Technologies by 31.1% during the fourth quarter. American Century Companies Inc. now owns 861,173 shares of the basic materials company’s stock valued at $65,630,000 after purchasing an additional 204,371 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Minerals Technologies during the fourth quarter valued at about $10,797,000. Finally, Foundry Partners LLC bought a new stake in shares of Minerals Technologies during the fourth quarter valued at about $7,735,000. Institutional investors own 97.29% of the company’s stock.

Insider Activity

In other Minerals Technologies news, Director Kristina M. Johnson purchased 1,000 shares of the business’s stock in a transaction dated Friday, May 2nd. The shares were acquired at an average price of $53.79 per share, for a total transaction of $53,790.00. Following the acquisition, the director now owns 1,400 shares of the company’s stock, valued at $75,306. This trade represents a 250.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.30% of the stock is owned by insiders.

Minerals Technologies Trading Up 4.0%

Shares of NYSE:MTX opened at $58.26 on Tuesday. The firm has a market capitalization of $1.85 billion, a P/E ratio of 11.25 and a beta of 1.22. The firm has a fifty day moving average of $59.59 and a two-hundred day moving average of $70.60. The company has a quick ratio of 1.98, a current ratio of 2.84 and a debt-to-equity ratio of 0.54. Minerals Technologies Inc. has a 12-month low of $49.54 and a 12-month high of $90.30.

Minerals Technologies (NYSE:MTX) last released its quarterly earnings results on Thursday, April 24th. The basic materials company reported $1.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.02). The business had revenue of $491.80 million for the quarter, compared to the consensus estimate of $502.03 million. Minerals Technologies had a net margin of 7.89% and a return on equity of 11.49%. The firm’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.49 EPS. On average, equities analysts expect that Minerals Technologies Inc. will post 6.62 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. StockNews.com cut shares of Minerals Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, April 9th. Truist Financial reduced their target price on shares of Minerals Technologies from $92.00 to $80.00 and set a “buy” rating for the company in a report on Monday, April 28th.

Minerals Technologies Profile

Minerals Technologies Inc develops, produces, and markets various mineral, mineral-based, and related systems and services. The company operates through two segments, Consumer & Specialties, and Engineered Solutions segments. The Consumer & Specialties segment offers household and personal care products, such as pet litter, personal care, fabric care, edible oil and other fluid purification, animal health, and agricultural products; and specialty additives products, including precipitated calcium carbonate and ground calcium carbonate products that are used in the paper, paperboard, and fiber based packaging industries, as well as automotive, construction, and table and food applications.