Graham Capital Management L.P. Purchases 5,056 Shares of Minerals Technologies Inc. $MTX

Graham Capital Management L.P. grew its stake in shares of Minerals Technologies Inc. (NYSE:MTX) by 35.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 19,402 shares of the basic materials company’s stock after buying an additional 5,056 shares during the period. Graham Capital Management L.P.’s holdings in Minerals Technologies were worth $1,233,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Quarry LP lifted its stake in Minerals Technologies by 105.3% in the first quarter. Quarry LP now owns 1,503 shares of the basic materials company’s stock worth $96,000 after purchasing an additional 771 shares during the last quarter. Panagora Asset Management Inc. increased its position in shares of Minerals Technologies by 0.3% in the first quarter. Panagora Asset Management Inc. now owns 217,430 shares of the basic materials company’s stock valued at $13,822,000 after acquiring an additional 557 shares during the period. State of Wyoming increased its position in shares of Minerals Technologies by 11.5% in the first quarter. State of Wyoming now owns 2,684 shares of the basic materials company’s stock valued at $171,000 after acquiring an additional 277 shares during the period. Trexquant Investment LP increased its position in shares of Minerals Technologies by 29.7% in the first quarter. Trexquant Investment LP now owns 56,500 shares of the basic materials company’s stock valued at $3,592,000 after acquiring an additional 12,945 shares during the period. Finally, Gamco Investors INC. ET AL increased its position in shares of Minerals Technologies by 0.8% in the first quarter. Gamco Investors INC. ET AL now owns 240,100 shares of the basic materials company’s stock valued at $15,263,000 after acquiring an additional 1,800 shares during the period. Hedge funds and other institutional investors own 97.29% of the company’s stock.

Minerals Technologies Stock Performance

MTX opened at $64.57 on Thursday. The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of 1,076.41 and a beta of 1.22. The company has a fifty day moving average of $59.96 and a 200 day moving average of $60.07. Minerals Technologies Inc. has a fifty-two week low of $49.54 and a fifty-two week high of $86.49. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.35 and a current ratio of 1.95.

Minerals Technologies (NYSE:MTX) last released its earnings results on Thursday, July 24th. The basic materials company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.12. The firm had revenue of $528.90 million during the quarter, compared to analyst estimates of $529.13 million. Minerals Technologies had a net margin of 0.10% and a return on equity of 10.64%. The business’s revenue was down 2.3% on a year-over-year basis. During the same quarter last year, the business earned $1.65 EPS. As a group, sell-side analysts forecast that Minerals Technologies Inc. will post 6.62 earnings per share for the current fiscal year.

Minerals Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 15th will be given a $0.11 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.7%. Minerals Technologies’s payout ratio is presently 733.33%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on MTX shares. Wall Street Zen upgraded shares of Minerals Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, August 2nd. Truist Financial lifted their target price on shares of Minerals Technologies from $80.00 to $84.00 and gave the stock a “buy” rating in a report on Monday, July 28th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $84.00.

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.