Vanguard Group Inc. Has $222.13 Million Stock Holdings in Minerals Technologies Inc. $MTX

Vanguard Group Inc. lessened its holdings in shares of Minerals Technologies Inc. (NYSE:MTX) by 1.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,575,782 shares of the basic materials company’s stock after selling 62,734 shares during the period. Vanguard Group Inc. owned 11.49% of Minerals Technologies worth $222,128,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. American Century Companies Inc. raised its position in shares of Minerals Technologies by 20.3% during the second quarter. American Century Companies Inc. now owns 1,284,532 shares of the basic materials company’s stock worth $70,739,000 after acquiring an additional 216,453 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Minerals Technologies by 0.6% in the 2nd quarter. Geode Capital Management LLC now owns 911,831 shares of the basic materials company’s stock valued at $50,220,000 after purchasing an additional 5,348 shares during the last quarter. Brandes Investment Partners LP increased its position in shares of Minerals Technologies by 436.3% during the second quarter. Brandes Investment Partners LP now owns 538,073 shares of the basic materials company’s stock worth $29,632,000 after buying an additional 437,734 shares during the period. First Trust Advisors LP raised its stake in Minerals Technologies by 0.7% during the second quarter. First Trust Advisors LP now owns 532,975 shares of the basic materials company’s stock worth $29,351,000 after buying an additional 3,786 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in Minerals Technologies by 26.5% during the second quarter. Ameriprise Financial Inc. now owns 496,215 shares of the basic materials company’s stock valued at $27,327,000 after acquiring an additional 103,853 shares during the last quarter. 97.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on MTX. Truist Financial upped their target price on Minerals Technologies from $84.00 to $89.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Zacks Research raised shares of Minerals Technologies from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 14th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Minerals Technologies in a report on Monday, December 22nd. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $89.00.

Minerals Technologies Stock Performance

Shares of MTX opened at $70.70 on Monday. The firm has a market capitalization of $2.20 billion, a P/E ratio of -138.63 and a beta of 1.24. Minerals Technologies Inc. has a 52 week low of $49.54 and a 52 week high of $75.29. The stock has a 50 day moving average price of $67.47 and a two-hundred day moving average price of $62.93. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.45 and a current ratio of 2.08.

Minerals Technologies (NYSE:MTX) last announced its quarterly earnings results on Thursday, January 29th. The basic materials company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.01). Minerals Technologies had a positive return on equity of 10.22% and a negative net margin of 0.89%.The company had revenue of $519.50 million for the quarter, compared to the consensus estimate of $517.83 million. During the same quarter last year, the company posted $1.28 EPS. The company’s quarterly revenue was up .3% compared to the same quarter last year. Equities analysts forecast that Minerals Technologies Inc. will post 6.62 earnings per share for the current fiscal year.

Minerals Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 13th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Friday, February 13th. Minerals Technologies’s dividend payout ratio is presently -94.12%.

Insider Buying and Selling

In other Minerals Technologies news, insider Dj Monagle III sold 23,093 shares of Minerals Technologies stock in a transaction that occurred on Monday, December 29th. The shares were sold at an average price of $61.90, for a total transaction of $1,429,456.70. Following the transaction, the insider owned 84,349 shares of the company’s stock, valued at $5,221,203.10. This trade represents a 21.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.50% of the company’s stock.

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.