21,532 Shares in Minerals Technologies Inc. $MTX Purchased by Kimelman & Baird LLC

Kimelman & Baird LLC acquired a new stake in Minerals Technologies Inc. (NYSE:MTX) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 21,532 shares of the basic materials company’s stock, valued at approximately $1,593,000. Kimelman & Baird LLC owned approximately 0.07% of Minerals Technologies at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Minerals Technologies during the second quarter worth $361,721,000. State Street Corp lifted its stake in Minerals Technologies by 0.5% in the fourth quarter. State Street Corp now owns 1,221,398 shares of the basic materials company’s stock valued at $74,444,000 after acquiring an additional 6,458 shares during the last quarter. Geode Capital Management LLC grew its holdings in Minerals Technologies by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 897,850 shares of the basic materials company’s stock worth $54,732,000 after purchasing an additional 4,693 shares during the period. Brandes Investment Partners LP boosted its stake in shares of Minerals Technologies by 22.9% during the 4th quarter. Brandes Investment Partners LP now owns 819,908 shares of the basic materials company’s stock worth $49,973,000 after acquiring an additional 152,950 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Minerals Technologies by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 597,297 shares of the basic materials company’s stock valued at $36,405,000 after buying an additional 15,467 shares during the last quarter. Institutional investors own 97.29% of the company’s stock.

Minerals Technologies Stock Down 0.3%

Shares of MTX opened at $72.06 on Friday. The stock has a 50 day simple moving average of $73.97 and a two-hundred day simple moving average of $73.48. Minerals Technologies Inc. has a 1 year low of $53.94 and a 1 year high of $84.34. The firm has a market cap of $2.24 billion, a P/E ratio of -33.21 and a beta of 1.14. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.43 and a quick ratio of 1.00.

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

Minerals Technologies Announces Dividend

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

Analyst Upgrades and Downgrades

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

Minerals Technologies Company 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.