Pacer Advisors Inc. decreased its holdings in shares of Minerals Technologies Inc. (NYSE:MTX) by 4.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,610 shares of the basic materials company’s stock after selling 176 shares during the period. Pacer Advisors Inc.’s holdings in Minerals Technologies were worth $272,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in the company. Paloma Partners Management Co lifted its position in shares of Minerals Technologies by 2.6% during the 4th quarter. Paloma Partners Management Co now owns 6,752 shares of the basic materials company’s stock valued at $419,000 after buying an additional 174 shares in the last quarter. Assetmark Inc. lifted its holdings in Minerals Technologies by 42.4% in the 4th quarter. Assetmark Inc. now owns 702 shares of the basic materials company’s stock valued at $44,000 after purchasing an additional 209 shares in the last quarter. Blair William & Co. IL lifted its holdings in Minerals Technologies by 1.5% in the 4th quarter. Blair William & Co. IL now owns 14,980 shares of the basic materials company’s stock valued at $931,000 after purchasing an additional 220 shares in the last quarter. First Trust Advisors LP lifted its holdings in Minerals Technologies by 0.9% in the 4th quarter. First Trust Advisors LP now owns 34,047 shares of the basic materials company’s stock valued at $2,115,000 after purchasing an additional 310 shares in the last quarter. Finally, Foundry Partners LLC lifted its holdings in Minerals Technologies by 0.4% in the 4th quarter. Foundry Partners LLC now owns 174,897 shares of the basic materials company’s stock valued at $10,865,000 after purchasing an additional 699 shares in the last quarter. Hedge funds and other institutional investors own 94.75% of the company’s stock.
MTX has been the topic of a number of research reports. Zacks Investment Research upgraded Minerals Technologies from a “hold” rating to a “buy” rating and set a $84.00 price objective on the stock in a report on Wednesday, March 31st. CL King raised their price objective on Minerals Technologies from $70.00 to $75.00 and gave the company a “buy” rating in a report on Friday, January 22nd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $71.75.
Minerals Technologies (NYSE:MTX) last issued its earnings results on Thursday, February 4th. The basic materials company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.13. Minerals Technologies had a return on equity of 9.20% and a net margin of 6.88%. The business had revenue of $431.80 million during the quarter, compared to the consensus estimate of $396.91 million. As a group, equities analysts anticipate that Minerals Technologies Inc. will post 3.84 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 11th. Investors of record on Friday, February 19th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date of this dividend was Thursday, February 18th. Minerals Technologies’s payout ratio is 4.73%.
In other Minerals Technologies news, SVP Douglas W. Mayger sold 24,500 shares of Minerals Technologies stock in a transaction dated Tuesday, February 16th. The stock was sold at an average price of $68.36, for a total value of $1,674,820.00. Following the completion of the transaction, the senior vice president now directly owns 51,235 shares of the company’s stock, valued at approximately $3,502,424.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Michael Cipolla sold 6,246 shares of Minerals Technologies stock in a transaction dated Wednesday, February 24th. The shares were sold at an average price of $72.36, for a total value of $451,960.56. Following the completion of the transaction, the vice president now directly owns 36,620 shares of the company’s stock, valued at $2,649,823.20. The disclosure for this sale can be found here. Insiders have sold a total of 44,361 shares of company stock valued at $3,113,596 over the last three months. Corporate insiders own 2.80% of the company’s stock.
Minerals Technologies Company Profile
Minerals Technologies Inc develops, produces, and markets various specialty mineral, mineral-based, and synthetic mineral products, and supporting systems and services. The company's Performance Materials segment supplies bentonite and bentonite-related products, as well as chromite and leonardite.
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