Minerals Technologies Inc. (NYSE:MTX) Shares Acquired by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC increased its stake in Minerals Technologies Inc. (NYSE:MTX) by 13.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 20,639 shares of the basic materials company’s stock after buying an additional 2,419 shares during the quarter. Wedge Capital Management L L P NC owned about 0.06% of Minerals Technologies worth $1,312,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the business. FMR LLC grew its position in shares of Minerals Technologies by 42.7% in the 4th quarter. FMR LLC now owns 1,761,925 shares of the basic materials company’s stock worth $134,276,000 after acquiring an additional 527,206 shares in the last quarter. Norges Bank acquired a new position in shares of Minerals Technologies in the 4th quarter worth approximately $16,360,000. American Century Companies Inc. grew its position in shares of Minerals Technologies by 31.1% in the 4th quarter. American Century Companies Inc. now owns 861,173 shares of the basic materials company’s stock worth $65,630,000 after acquiring an additional 204,371 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Minerals Technologies in the 4th quarter worth approximately $10,797,000. Finally, Foundry Partners LLC acquired a new position in shares of Minerals Technologies in the 4th quarter worth approximately $7,735,000. Institutional investors and hedge funds own 97.29% of the company’s stock.

Wall Street Analyst Weigh In

MTX has been the topic of several recent analyst reports. Wall Street Zen downgraded Minerals Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, April 9th. Truist Financial cut their target price on Minerals Technologies from $92.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, April 28th.

Insider Activity

In related news, Director Kristina M. Johnson acquired 1,000 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The stock was acquired at an average cost of $53.79 per share, with a total value of $53,790.00. Following the completion of the purchase, the director now directly owns 1,400 shares in the company, valued at approximately $75,306. This trade represents a 250.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.30% of the company’s stock.

Minerals Technologies Stock Performance

MTX opened at $60.30 on Wednesday. The company has a market cap of $1.91 billion, a PE ratio of 11.64 and a beta of 1.22. The stock has a 50-day moving average of $56.51 and a 200-day moving average of $67.55. Minerals Technologies Inc. has a 52-week low of $49.54 and a 52-week high of $90.30. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.98 and a current ratio of 2.84.

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

Minerals Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 30th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.44 annualized dividend and a dividend yield of 0.73%. Minerals Technologies’s dividend payout ratio (DPR) is currently -57.14%.

About Minerals Technologies

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.