Invesco Ltd. Raises Stock Position in Minerals Technologies Inc. (NYSE:MTX)

Invesco Ltd. raised its position in Minerals Technologies Inc. (NYSE:MTX) by 23.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 201,639 shares of the basic materials company’s stock after buying an additional 38,097 shares during the period. Invesco Ltd. owned about 0.60% of Minerals Technologies worth $15,863,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AlphaCrest Capital Management LLC purchased a new position in Minerals Technologies in the second quarter valued at $682,000. JPMorgan Chase & Co. increased its holdings in Minerals Technologies by 24.4% in the second quarter. JPMorgan Chase & Co. now owns 326,777 shares of the basic materials company’s stock valued at $25,707,000 after buying an additional 64,156 shares in the last quarter. Credit Suisse AG increased its stake in shares of Minerals Technologies by 4.0% during the second quarter. Credit Suisse AG now owns 28,101 shares of the basic materials company’s stock worth $2,194,000 after purchasing an additional 1,075 shares in the last quarter. Macquarie Group Ltd. increased its stake in shares of Minerals Technologies by 1.7% during the second quarter. Macquarie Group Ltd. now owns 1,550,535 shares of the basic materials company’s stock worth $121,981,000 after purchasing an additional 26,131 shares in the last quarter. Finally, Susquehanna International Group LLP purchased a new stake in shares of Minerals Technologies during the second quarter worth about $843,000. 96.30% of the stock is owned by institutional investors.

MTX stock opened at $71.44 on Thursday. The stock has a market capitalization of $2.38 billion, a PE ratio of 15.77 and a beta of 1.43. The stock’s 50-day moving average is $72.95. The company has a quick ratio of 1.77, a current ratio of 2.43 and a debt-to-equity ratio of 0.61. Minerals Technologies Inc. has a 52 week low of $58.89 and a 52 week high of $88.62.

Minerals Technologies (NYSE:MTX) last posted its quarterly earnings results on Thursday, November 4th. The basic materials company reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.06. The firm had revenue of $473.20 million for the quarter, compared to analyst estimates of $473.24 million. Minerals Technologies had a net margin of 8.51% and a return on equity of 10.83%. Minerals Technologies’s quarterly revenue was up 21.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.92 earnings per share. On average, equities research analysts expect that Minerals Technologies Inc. will post 4.96 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 9th. Investors of record on Wednesday, November 3rd will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, November 2nd. This represents a $0.20 dividend on an annualized basis and a yield of 0.28%. Minerals Technologies’s payout ratio is presently 4.42%.

Separately, Zacks Investment Research raised shares of Minerals Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, November 11th.

In related news, insider Dj Monagle III sold 8,600 shares of the business’s stock in a transaction dated Wednesday, November 17th. The shares were sold at an average price of $74.29, for a total transaction of $638,894.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 3.20% of the company’s stock.

Minerals Technologies Profile

Minerals Technologies, Inc is a resource and technology-based company. It develops, produces, and markets a range of mineral, mineral-based, and synthetic mineral products. It operates through the following four segments: Performance Materials, Specialty Minerals, Refractories and Energy Services. The Performance Materials segment supplies bentonite and bentonite-related products, chromite and leonardite.

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Institutional Ownership by Quarter for Minerals Technologies (NYSE:MTX)

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