Minerals Technologies Inc. $MTX Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC lifted its stake in shares of Minerals Technologies Inc. (NYSE:MTX) by 0.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 911,831 shares of the basic materials company’s stock after purchasing an additional 5,348 shares during the period. Geode Capital Management LLC’s holdings in Minerals Technologies were worth $50,220,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Nisa Investment Advisors LLC increased its holdings in shares of Minerals Technologies by 3.7% in the second quarter. Nisa Investment Advisors LLC now owns 6,146 shares of the basic materials company’s stock valued at $338,000 after purchasing an additional 219 shares during the last quarter. State of Wyoming grew its holdings in Minerals Technologies by 11.5% in the 1st quarter. State of Wyoming now owns 2,684 shares of the basic materials company’s stock valued at $171,000 after buying an additional 277 shares in the last quarter. Bank of Montreal Can increased its stake in shares of Minerals Technologies by 3.4% in the 2nd quarter. Bank of Montreal Can now owns 8,814 shares of the basic materials company’s stock worth $485,000 after acquiring an additional 287 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Minerals Technologies by 44.6% during the 2nd quarter. Blue Trust Inc. now owns 1,011 shares of the basic materials company’s stock worth $56,000 after acquiring an additional 312 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Minerals Technologies by 1.2% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 27,833 shares of the basic materials company’s stock valued at $1,533,000 after acquiring an additional 325 shares during the last quarter. 97.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MTX has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (d)” rating on shares of Minerals Technologies in a research report on Wednesday, November 19th. Truist Financial raised 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. Finally, Wall Street Zen cut Minerals Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 18th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $84.00.

Minerals Technologies Stock Down 1.9%

Minerals Technologies stock opened at $57.70 on Tuesday. The company has a market capitalization of $1.80 billion, a PE ratio of -2,883.56 and a beta of 1.26. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.37 and a current ratio of 1.98. Minerals Technologies Inc. has a fifty-two week low of $49.54 and a fifty-two week high of $86.49. The firm has a 50 day moving average price of $59.35 and a 200 day moving average price of $59.28.

Minerals Technologies (NYSE:MTX) last released its quarterly earnings results on Wednesday, March 15th. The basic materials company reported $1.50 EPS for the quarter. Minerals Technologies had a positive return on equity of 10.69% and a negative net margin of 0.08%.The business had revenue of $557.00 million during the quarter. Research analysts expect that Minerals Technologies Inc. will post 6.62 earnings per share for the current year.

Minerals Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Shareholders of record on Thursday, October 30th will be given a $0.12 dividend. The ex-dividend date of this dividend is Thursday, October 30th. This represents a $0.48 annualized dividend and a yield of 0.8%. This is an increase from Minerals Technologies’s previous quarterly dividend of $0.11. Minerals Technologies’s dividend payout ratio is presently -2,400.00%.

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.