Ameriprise Financial Inc. increased its stake in shares of Minerals Technologies Inc. (NYSE:MTX) by 4.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 486,769 shares of the basic materials company’s stock after purchasing an additional 21,271 shares during the period. Ameriprise Financial Inc. owned 1.39% of Minerals Technologies worth $35,624,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Minerals Technologies by 9.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,471 shares of the basic materials company’s stock valued at $108,000 after acquiring an additional 125 shares in the last quarter. Victory Capital Management Inc. grew its stake in Minerals Technologies by 41.5% during the 1st quarter. Victory Capital Management Inc. now owns 1,747 shares of the basic materials company’s stock valued at $134,000 after acquiring an additional 512 shares in the last quarter. Meadow Creek Investment Management LLC grew its stake in Minerals Technologies by 7.4% during the 1st quarter. Meadow Creek Investment Management LLC now owns 2,044 shares of the basic materials company’s stock valued at $157,000 after acquiring an additional 140 shares in the last quarter. Riverhead Capital Management LLC grew its stake in Minerals Technologies by 69.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,197 shares of the basic materials company’s stock valued at $161,000 after acquiring an additional 897 shares in the last quarter. Finally, First Mercantile Trust Co. grew its stake in Minerals Technologies by 1.7% during the 2nd 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. Hedge funds and other institutional investors own 94.41% of the company’s stock.

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Shares of Minerals Technologies Inc. (MTX) opened at 70.55 on Friday. The stock has a market cap of $2.48 billion, a PE ratio of 16.05 and a beta of 2.21. The company’s 50-day moving average is $65.42 and its 200 day moving average is $72.02. Minerals Technologies Inc. has a 52 week low of $62.55 and a 52 week high of $83.85.

Minerals Technologies (NYSE:MTX) last announced its earnings results on Thursday, August 3rd. The basic materials company reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.01). The business had revenue of $414.10 million for the quarter, compared to analyst estimates of $427.21 million. Minerals Technologies had a return on equity of 15.04% and a net margin of 9.62%. Analysts forecast that Minerals Technologies Inc. will post $4.59 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 7th. Shareholders of record on Friday, August 25th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date of this dividend was Wednesday, August 23rd. Minerals Technologies’s payout ratio is currently 4.55%.

Minerals Technologies declared that its Board of Directors has initiated a share repurchase program on Thursday, September 21st that allows the company to buyback $150.00 million in shares. This buyback authorization allows the basic materials company to buy up to 6.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

MTX has been the subject of several research reports. BidaskClub cut shares of Minerals Technologies from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 17th. ValuEngine cut shares of Minerals Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, Zacks Investment Research raised shares of Minerals Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th.

Minerals Technologies Company Profile

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

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