13,211 Shares in Minerals Technologies Inc. $MTX Purchased by TradeLink Capital LLC

TradeLink Capital LLC bought a new position in Minerals Technologies Inc. (NYSE:MTX) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 13,211 shares of the basic materials company’s stock, valued at approximately $728,000. Minerals Technologies comprises approximately 2.1% of TradeLink Capital LLC’s holdings, making the stock its 16th largest holding.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MTX. First Horizon Advisors Inc. increased its position in shares of Minerals Technologies by 161.1% during the second quarter. First Horizon Advisors Inc. now owns 590 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 364 shares in the last quarter. Blue Trust Inc. lifted its position in Minerals Technologies by 44.6% in the 2nd quarter. Blue Trust Inc. now owns 1,011 shares of the basic materials company’s stock valued at $56,000 after acquiring an additional 312 shares in the last quarter. Strs Ohio purchased a new stake in Minerals Technologies during the 1st quarter valued at $70,000. Quarry LP increased its holdings in shares of Minerals Technologies by 105.3% in the 1st quarter. Quarry LP now owns 1,503 shares of the basic materials company’s stock worth $96,000 after purchasing an additional 771 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Minerals Technologies in the 1st quarter worth $124,000. Institutional investors own 97.29% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MTX. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Minerals Technologies in a report on Tuesday, November 25th. Wall Street Zen lowered Minerals Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 18th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Minerals Technologies currently has a consensus rating of “Hold” and an average target price of $84.00.

Insider Buying and Selling at Minerals Technologies

In related news, insider Brett Argirakis sold 6,501 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $58.68, for a total value of $381,478.68. Following the transaction, the insider owned 27,602 shares of the company’s stock, valued at approximately $1,619,685.36. This trade represents a 19.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 3.30% of the stock is owned by company insiders.

Minerals Technologies Stock Performance

MTX stock opened at $58.65 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.98 and a quick ratio of 1.37. Minerals Technologies Inc. has a 1 year low of $49.54 and a 1 year high of $84.04. The company has a market cap of $1.83 billion, a P/E ratio of -2,931.03 and a beta of 1.26. The stock’s fifty day moving average price is $58.99 and its 200-day moving average price is $59.32.

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

Minerals Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Stockholders of record on Thursday, October 30th will be paid a $0.12 dividend. This is a boost from Minerals Technologies’s previous quarterly dividend of $0.11. The ex-dividend date is Thursday, October 30th. This represents a $0.48 annualized dividend and a dividend yield of 0.8%. Minerals Technologies’s dividend payout ratio (DPR) is currently -2,400.00%.

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.