First Manhattan CO. LLC. Purchases 2,239 Shares of Minerals Technologies Inc. (NYSE:MTX)

First Manhattan CO. LLC. boosted its position in shares of Minerals Technologies Inc. (NYSE:MTX) by 1.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 145,678 shares of the basic materials company’s stock after buying an additional 2,239 shares during the period. First Manhattan CO. LLC. owned approximately 0.46% of Minerals Technologies worth $11,273,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its stake in Minerals Technologies by 181.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 506 shares of the basic materials company’s stock worth $38,000 after acquiring an additional 326 shares during the last quarter. Quarry LP raised its holdings in Minerals Technologies by 536.5% during the 4th quarter. Quarry LP now owns 732 shares of the basic materials company’s stock valued at $56,000 after buying an additional 617 shares during the period. Blue Trust Inc. lifted its position in Minerals Technologies by 21.4% in the fourth quarter. Blue Trust Inc. now owns 1,009 shares of the basic materials company’s stock worth $78,000 after buying an additional 178 shares during the last quarter. Venturi Wealth Management LLC purchased a new position in Minerals Technologies during the fourth quarter worth $78,000. Finally, KBC Group NV increased its position in Minerals Technologies by 43.9% during the fourth quarter. KBC Group NV now owns 1,478 shares of the basic materials company’s stock valued at $113,000 after acquiring an additional 451 shares during the last quarter. Hedge funds and other institutional investors own 97.29% of the company’s stock.

Insiders Place Their Bets

In other Minerals Technologies news, CFO Erik Aldag acquired 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 30th. The shares were bought at an average cost of $50.37 per share, with a total value of $50,370.00. Following the completion of the acquisition, the chief financial officer now directly owns 4,245 shares in the company, valued at $213,820.65. This represents a 30.82 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on MTX shares. Truist Financial dropped their price target on shares of Minerals Technologies from $92.00 to $80.00 and set a “buy” rating for the company in a research note on Monday, April 28th. StockNews.com cut Minerals Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, April 9th.

Minerals Technologies Trading Up 1.4 %

NYSE MTX opened at $55.97 on Friday. Minerals Technologies Inc. has a 12 month low of $49.54 and a 12 month high of $90.30. The company’s 50-day moving average price is $59.78 and its 200-day moving average price is $70.82. The stock has a market cap of $1.78 billion, a PE ratio of 10.81 and a beta of 1.22. The company has a current ratio of 2.84, a quick ratio of 1.98 and a debt-to-equity ratio of 0.54.

Minerals Technologies (NYSE:MTX) last issued its earnings results on Thursday, April 24th. The basic materials company reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.02). The company had revenue of $491.80 million for the quarter, compared to analysts’ expectations of $502.03 million. Minerals Technologies had a return on equity of 11.49% and a net margin of 7.89%. The business’s revenue was down 8.0% compared to the same quarter last year. During the same period last year, the business posted $1.49 earnings per share. Equities research analysts forecast that Minerals Technologies Inc. will post 6.62 earnings per share for the current year.

Minerals Technologies Profile

Minerals Technologies Inc develops, produces, and markets various mineral, mineral-based, and related systems and services. The company operates through two segments, Consumer & Specialties, and Engineered Solutions segments. The Consumer & Specialties segment offers household and personal care products, such as pet litter, personal care, fabric care, edible oil and other fluid purification, animal health, and agricultural products; and specialty additives products, including precipitated calcium carbonate and ground calcium carbonate products that are used in the paper, paperboard, and fiber based packaging industries, as well as automotive, construction, and table and food applications.