Minerals Technologies Inc. (MTX) Holdings Reduced by OxFORD Asset Management LLP
OxFORD Asset Management LLP trimmed its position in shares of Minerals Technologies Inc. (NYSE:MTX) by 39.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,197 shares of the basic materials company’s stock after selling 18,733 shares during the quarter. OxFORD Asset Management LLP owned 0.08% of Minerals Technologies worth $2,015,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Minerals Technologies by 9.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,471 shares of the basic materials company’s stock valued at $108,000 after purchasing an additional 125 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Minerals Technologies by 17.6% during the second quarter. Victory Capital Management Inc. now owns 2,054 shares of the basic materials company’s stock valued at $150,000 after purchasing an additional 307 shares during the period. Riverhead Capital Management LLC boosted its stake in shares of Minerals Technologies by 69.0% during the second quarter. Riverhead Capital Management LLC now owns 2,197 shares of the basic materials company’s stock valued at $161,000 after purchasing an additional 897 shares during the period. Quantbot Technologies LP boosted its stake in shares of Minerals Technologies by 93.0% during the second quarter. Quantbot Technologies LP now owns 2,349 shares of the basic materials company’s stock valued at $171,000 after purchasing an additional 1,132 shares during the period. Finally, First Mercantile Trust Co. raised its holdings in shares of Minerals Technologies by 1.7% in the second quarter. First Mercantile Trust Co. now owns 2,420 shares of the basic materials company’s stock valued at $177,000 after acquiring an additional 40 shares in the last quarter. 94.95% of the stock is owned by institutional investors.
In other news, insider Dj Monagle III sold 25,639 shares of the business’s stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $70.03, for a total transaction of $1,795,499.17. Following the sale, the insider now owns 39,579 shares in the company, valued at $2,771,717.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.20% of the company’s stock.
Several analysts recently weighed in on the company. KeyCorp restated a “hold” rating on shares of Minerals Technologies in a report on Monday, November 6th. Zacks Investment Research upgraded Minerals Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, October 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $80.00.
Shares of Minerals Technologies Inc. (MTX) traded down $1.80 during trading on Friday, reaching $66.40. 286,600 shares of the company’s stock were exchanged, compared to its average volume of 141,493. The company has a market capitalization of $2,412.02, a P/E ratio of 14.92 and a beta of 2.25. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.66 and a quick ratio of 1.98. Minerals Technologies Inc. has a fifty-two week low of $62.55 and a fifty-two week high of $83.85.
Minerals Technologies (NYSE:MTX) last announced its earnings results on Thursday, November 2nd. The basic materials company reported $1.19 EPS for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.02. The business had revenue of $424.40 million during the quarter, compared to the consensus estimate of $404.80 million. Minerals Technologies had a net margin of 9.48% and a return on equity of 14.59%. The firm’s revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.17 earnings per share. equities research analysts predict that Minerals Technologies Inc. will post 4.58 EPS for the current year.
Minerals Technologies announced that its Board of Directors has authorized a share buyback program on Thursday, September 21st that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the basic materials company to reacquire up to 6.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which was paid on Friday, December 8th. Shareholders of record on Monday, November 27th were issued a $0.05 dividend. The ex-dividend date was Friday, November 24th. This represents a $0.20 dividend on an annualized basis and a yield of 0.30%. Minerals Technologies’s dividend payout ratio is presently 4.56%.
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About Minerals Technologies
Minerals Technologies Inc is a resource- and technology-based company that develops, produces and markets a range of specialty mineral, mineral-based and synthetic mineral products and related systems and services around the world. It operates through four segments. The Specialty Minerals segment produces and sells the synthetic mineral product precipitated calcium carbonate (PCC), mines mineral ores, and processes and sells natural mineral products, primarily limestone and talc.
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