Great Lakes Advisors LLC Makes New $4.04 Million Investment in Minerals Technologies Inc. $MTX

Great Lakes Advisors LLC acquired a new stake in Minerals Technologies Inc. (NYSE:MTX) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 54,580 shares of the basic materials company’s stock, valued at approximately $4,037,000.

A number of other institutional investors have also made changes to their positions in the company. Parallel Advisors LLC boosted its stake in shares of Minerals Technologies by 36.0% in the first quarter. Parallel Advisors LLC now owns 552 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 146 shares during the period. ProShare Advisors LLC increased its stake in Minerals Technologies by 3.2% during the 4th quarter. ProShare Advisors LLC now owns 6,139 shares of the basic materials company’s stock worth $374,000 after buying an additional 192 shares during the period. Rockefeller Capital Management L.P. increased its stake in Minerals Technologies by 7.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,878 shares of the basic materials company’s stock worth $175,000 after buying an additional 192 shares during the period. Hsbc Holdings PLC lifted its holdings in Minerals Technologies by 4.5% in the 4th quarter. Hsbc Holdings PLC now owns 4,514 shares of the basic materials company’s stock worth $276,000 after buying an additional 193 shares in the last quarter. Finally, Jain Global LLC lifted its holdings in Minerals Technologies by 6.4% in the 4th quarter. Jain Global LLC now owns 4,143 shares of the basic materials company’s stock worth $253,000 after buying an additional 248 shares in the last quarter. 97.29% of the stock is owned by institutional investors and hedge funds.

Minerals Technologies Stock Performance

Shares of MTX stock opened at $70.41 on Friday. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of -32.45 and a beta of 1.14. Minerals Technologies Inc. has a one year low of $53.94 and a one year high of $84.34. The company’s 50-day simple moving average is $74.71 and its 200-day simple moving average is $73.44. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.00 and a current ratio of 1.43.

Minerals Technologies (NYSE:MTX) last announced its quarterly earnings data on Thursday, July 30th. The basic materials company reported $1.60 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $548.40 million during the quarter, compared to the consensus estimate of $558.77 million. During the same period in the prior year, the firm earned $1.55 earnings per share. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. Equities analysts anticipate that Minerals Technologies Inc. will post 6.03 earnings per share 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. Investors of record on Friday, August 14th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend 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 currently -22.12%.

Analysts Set New Price Targets

MTX has been the subject of several recent analyst reports. Truist Financial raised their target price on Minerals Technologies from $89.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Weiss Ratings downgraded Minerals Technologies from a “hold (c+)” rating to a “sell (d+)” rating in a report on Monday, August 3rd. Seaport Research Partners restated a “buy” rating on shares of Minerals Technologies in a report on Monday, May 4th. Finally, Wall Street Zen lowered Minerals Technologies from a “strong-buy” rating to a “hold” rating in a research report on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $90.00.

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.