Graham Capital Management L.P. Decreases Stock Holdings in Minerals Technologies Inc. (NYSE:MTX)

Graham Capital Management L.P. cut its stake in Minerals Technologies Inc. (NYSE:MTX) by 13.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,346 shares of the basic materials company’s stock after selling 2,231 shares during the period. Graham Capital Management L.P.’s holdings in Minerals Technologies were worth $1,093,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Blair William & Co. IL raised its holdings in shares of Minerals Technologies by 3.2% in the fourth quarter. Blair William & Co. IL now owns 5,657 shares of the basic materials company’s stock valued at $431,000 after buying an additional 177 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Minerals Technologies by 21.4% during the fourth quarter. Blue Trust Inc. now owns 1,009 shares of the basic materials company’s stock worth $78,000 after acquiring an additional 178 shares during the period. Balyasny Asset Management L.P. increased its stake in shares of Minerals Technologies by 4.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 5,312 shares of the basic materials company’s stock worth $405,000 after acquiring an additional 235 shares during the period. Savant Capital LLC increased its stake in shares of Minerals Technologies by 7.4% during the fourth quarter. Savant Capital LLC now owns 3,783 shares of the basic materials company’s stock worth $288,000 after acquiring an additional 260 shares during the period. Finally, QRG Capital Management Inc. increased its stake in shares of Minerals Technologies by 4.5% during the fourth quarter. QRG Capital Management Inc. now owns 6,481 shares of the basic materials company’s stock worth $494,000 after acquiring an additional 280 shares during the period. 97.29% of the stock is owned by hedge funds and other institutional investors.

Minerals Technologies Trading Up 0.8%

Shares of MTX opened at $58.80 on Wednesday. The company has a current ratio of 2.84, a quick ratio of 1.98 and a debt-to-equity ratio of 0.54. The firm’s 50-day moving average is $59.40 and its two-hundred day moving average is $70.52. Minerals Technologies Inc. has a twelve month low of $49.54 and a twelve month high of $90.30. The firm has a market capitalization of $1.87 billion, a P/E ratio of 11.35 and a beta of 1.22.

Minerals Technologies (NYSE:MTX) last released its quarterly earnings results on Thursday, April 24th. The basic materials company reported $1.14 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.02). The business had revenue of $491.80 million during the quarter, compared to analyst estimates 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 company earned $1.49 earnings per share. On average, research analysts predict that Minerals Technologies Inc. will post 6.62 earnings per share for the current fiscal year.

Minerals Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 30th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.75%. Minerals Technologies’s dividend payout ratio is presently -57.14%.

Analyst Ratings Changes

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

Insider Activity

In other Minerals Technologies news, Director Kristina M. Johnson purchased 1,000 shares of the stock in a transaction dated Friday, May 2nd. The shares were acquired at an average cost of $53.79 per share, for a total transaction of $53,790.00. Following the completion of the transaction, the director now directly 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 purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 3.50% of the company’s stock.

Minerals Technologies Company 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.