Quarry LP Increases Stock Position in Minerals Technologies Inc. $MTX

Quarry LP increased its position in shares of Minerals Technologies Inc. (NYSE:MTX) by 105.3% during the first quarter, HoldingsChannel.com reports. The fund owned 1,503 shares of the basic materials company’s stock after acquiring an additional 771 shares during the period. Quarry LP’s holdings in Minerals Technologies were worth $96,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. American Century Companies Inc. increased its holdings in Minerals Technologies by 24.0% during the 1st quarter. American Century Companies Inc. now owns 1,068,079 shares of the basic materials company’s stock worth $67,898,000 after acquiring an additional 206,906 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Minerals Technologies by 6.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 543,547 shares of the basic materials company’s stock worth $33,879,000 after acquiring an additional 32,342 shares during the period. Nuveen LLC bought a new stake in Minerals Technologies during the 1st quarter worth approximately $33,177,000. Northern Trust Corp increased its holdings in Minerals Technologies by 9.6% during the 4th quarter. Northern Trust Corp now owns 498,929 shares of the basic materials company’s stock worth $38,023,000 after acquiring an additional 43,546 shares during the period. Finally, Bank of America Corp DE increased its holdings in Minerals Technologies by 4.0% during the 4th quarter. Bank of America Corp DE now owns 434,789 shares of the basic materials company’s stock worth $33,135,000 after acquiring an additional 16,683 shares during the period. Institutional investors own 97.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MTX. Wall Street Zen raised shares of Minerals Technologies from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. Truist Financial increased their price target 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, According to data from MarketBeat.com, Minerals Technologies currently has a consensus rating of “Buy” and a consensus price target of $84.00.

Minerals Technologies Price Performance

MTX stock opened at $64.57 on Thursday. 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 Inc. has a 52 week low of $49.54 and a 52 week high of $86.49. The firm’s fifty day moving average is $59.96 and its 200 day moving average is $60.07. The firm has a market cap of $2.03 billion, a P/E ratio of 1,076.41 and a beta of 1.22.

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

Minerals Technologies Announces Dividend

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

About Minerals Technologies

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.