State of Wyoming Invests $711,000 in Minerals Technologies Inc. $MTX

State of Wyoming bought a new stake in Minerals Technologies Inc. (NYSE:MTX) in the second quarter, HoldingsChannel.com reports. The firm bought 9,611 shares of the basic materials company’s stock, valued at approximately $711,000.

Other institutional investors also recently modified their holdings of the company. Parallel Advisors LLC increased its position in Minerals Technologies by 36.0% during the first quarter. Parallel Advisors LLC now owns 552 shares of the basic materials company’s stock worth $39,000 after acquiring an additional 146 shares during the period. EverSource Wealth Advisors LLC raised its stake in Minerals Technologies by 626.8% in 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 in the last quarter. Versant Capital Management Inc boosted its holdings in Minerals Technologies by 87.3% in the 2nd quarter. Versant Capital Management Inc now owns 798 shares of the basic materials company’s stock valued at $59,000 after purchasing an additional 372 shares during the period. Torren Management LLC bought a new stake in Minerals Technologies in the 4th quarter valued at about $50,000. Finally, Danske Bank A S bought a new stake in Minerals Technologies in the 3rd quarter valued at about $56,000. Institutional investors own 97.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Seaport Research Partners reaffirmed a “buy” rating on shares of Minerals Technologies in a report on Monday, May 4th. Weiss Ratings cut Minerals Technologies from a “hold (c+)” rating to a “sell (d+)” rating in a research note on Monday, August 3rd. Truist Financial increased their price target on Minerals Technologies from $89.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Finally, Wall Street Zen lowered Minerals Technologies from a “strong-buy” rating to a “hold” rating in a research note on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $90.00.

Minerals Technologies Trading Down 0.1%

MTX opened at $72.89 on Monday. Minerals Technologies Inc. has a twelve month low of $53.94 and a twelve month high of $84.34. The company has a 50-day simple moving average of $75.11 and a 200 day simple moving average of $73.29. The company has a quick ratio of 1.00, a current ratio of 1.43 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of -33.59 and a beta of 1.14.

Minerals Technologies (NYSE:MTX) last announced its quarterly earnings data on Thursday, July 30th. The basic materials company reported $1.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.04). Minerals Technologies had a positive return on equity of 10.63% and a negative net margin of 3.13%.The firm had revenue of $548.40 million for the quarter, compared to analyst estimates of $558.77 million. During the same quarter in the previous year, the company earned $1.55 earnings per share. The company’s quarterly revenue was up 3.7% on a year-over-year basis. Analysts predict that Minerals Technologies Inc. will post 6.03 EPS for the current fiscal year.

Minerals Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Friday, August 14th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, August 14th. Minerals Technologies’s dividend payout ratio is -22.12%.

Minerals Technologies Profile

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.