18,079 Shares in Minerals Technologies Inc. $MTX Bought by OP Asset Management Ltd

OP Asset Management Ltd purchased a new position in shares of Minerals Technologies Inc. (NYSE:MTX) during the 1st quarter, Holdings Channel.com reports. The fund purchased 18,079 shares of the basic materials company’s stock, valued at approximately $1,282,000.

A number of other large investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its stake in shares of Minerals Technologies by 626.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 596 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 514 shares during the last quarter. Torren Management LLC bought a new stake in shares of Minerals Technologies in the 4th quarter valued at about $50,000. Danske Bank A S acquired a new stake in Minerals Technologies in the 3rd quarter valued at about $56,000. Strs Ohio bought a new position in Minerals Technologies during the first quarter worth about $70,000. Finally, First Horizon Corp grew its holdings in Minerals Technologies by 120.9% during the fourth quarter. First Horizon Corp now owns 1,228 shares of the basic materials company’s stock worth $75,000 after purchasing an additional 672 shares during the period. Institutional investors and hedge funds own 97.29% of the company’s stock.

Minerals Technologies Price Performance

Minerals Technologies stock opened at $77.27 on Tuesday. The company has a current ratio of 2.13, a quick ratio of 1.47 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $2.40 billion, a price-to-earnings ratio of 14.95 and a beta of 1.13. The stock’s 50 day moving average is $76.49 and its 200-day moving average is $70.86. Minerals Technologies Inc. has a 12 month low of $53.94 and a 12 month high of $84.34.

Minerals Technologies (NYSE:MTX) last announced its quarterly earnings data on Thursday, April 30th. The basic materials company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.12. Minerals Technologies had a return on equity of 10.40% and a net margin of 7.60%.The firm had revenue of $546.90 million during the quarter, compared to analysts’ expectations of $516.39 million. During the same period in the previous year, the firm earned $1.14 EPS. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. Equities research analysts expect that Minerals Technologies Inc. will post 6.33 EPS for the current year.

Minerals Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Tuesday, June 2nd were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Tuesday, June 2nd. Minerals Technologies’s payout ratio is 9.28%.

Wall Street Analyst Weigh In

Several research firms have issued reports on MTX. Seaport Research Partners restated a “buy” rating on shares of Minerals Technologies in a research note on Monday, May 4th. Weiss Ratings upgraded Minerals Technologies from a “sell (d+)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. Wall Street Zen lowered Minerals Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 13th. Finally, Truist Financial increased their price target on Minerals Technologies from $89.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, May 4th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $90.00.

Insider Activity at Minerals Technologies

In related news, VP Timothy Jordan sold 6,000 shares of Minerals Technologies stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $80.27, for a total value of $481,620.00. Following the transaction, the vice president directly owned 1,279 shares of the company’s stock, valued at $102,665.33. The trade was a 82.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.70% of the company’s stock.

About Minerals Technologies

Minerals Technologies Inc develops, produces and processes a broad range of mineral-based products and solutions that serve a variety of industrial applications. Its offerings include bentonite, perlite, precipitated calcium carbonate (PCC), mineral sands, foundry additives, performance minerals and specialty chemicals designed to enhance performance in markets such as paper, steel, construction, oil and gas, environmental remediation and consumer products.

The company operates through several business segments, including Specialty Minerals, Refractory Minerals, Performance Materials and Recycled Materials.