Jefferies Financial Group Inc. Takes $3.08 Million Position in Minerals Technologies Inc. (NYSE:MTX)

Jefferies Financial Group Inc. bought a new stake in shares of Minerals Technologies Inc. (NYSE:MTX - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 40,388 shares of the basic materials company's stock, valued at approximately $3,078,000. Jefferies Financial Group Inc. owned approximately 0.13% of Minerals Technologies as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. increased its stake in shares of Minerals Technologies by 2.7% during the fourth quarter. Principal Financial Group Inc. now owns 166,647 shares of the basic materials company's stock valued at $12,700,000 after buying an additional 4,356 shares during the period. JPMorgan Chase & Co. increased its position in Minerals Technologies by 9.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 115,887 shares of the basic materials company's stock valued at $8,950,000 after purchasing an additional 10,284 shares during the period. Franklin Resources Inc. raised its holdings in shares of Minerals Technologies by 21.1% in the 3rd quarter. Franklin Resources Inc. now owns 47,847 shares of the basic materials company's stock valued at $3,728,000 after purchasing an additional 8,335 shares in the last quarter. Y Intercept Hong Kong Ltd raised its holdings in shares of Minerals Technologies by 74.4% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 17,264 shares of the basic materials company's stock valued at $1,316,000 after purchasing an additional 7,364 shares in the last quarter. Finally, M&T Bank Corp lifted its position in shares of Minerals Technologies by 13.2% in the 4th quarter. M&T Bank Corp now owns 37,770 shares of the basic materials company's stock worth $2,878,000 after purchasing an additional 4,402 shares during the period. 97.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Minerals Technologies news, Director Kristina M. Johnson bought 1,000 shares of Minerals Technologies stock in a transaction dated 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 purchase, the director now directly owns 1,400 shares in the company, valued at $75,306. This represents a 250.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 3.30% of the stock is currently owned by insiders.

Minerals Technologies Stock Down 1.2%

Shares of MTX traded down $0.72 during midday trading on Monday, hitting $58.66. 28,299 shares of the company's stock traded hands, compared to its average volume of 184,330. Minerals Technologies Inc. has a 1 year low of $49.54 and a 1 year high of $90.30. The firm's fifty day moving average is $58.89 and its 200-day moving average is $70.11. The company has a current ratio of 2.84, a quick ratio of 1.98 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of 11.31 and a beta of 1.22.

Minerals Technologies (NYSE:MTX - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The basic materials company reported $1.14 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.02). The company had revenue of $491.80 million during the quarter, compared to analysts' expectations of $502.03 million. Minerals Technologies had a net margin of 7.89% and a return on equity of 11.49%. The business's revenue for the quarter was down 8.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.49 earnings per share. As a group, sell-side analysts anticipate that Minerals Technologies Inc. will post 6.62 earnings per share for the current year.

Minerals Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 30th will be paid a $0.11 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.44 annualized dividend and a dividend yield of 0.75%. Minerals Technologies's dividend payout ratio is presently -57.14%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MTX. StockNews.com lowered Minerals Technologies from a "buy" rating to a "hold" rating in a report on Wednesday, April 9th. Truist Financial lowered their price target on shares of Minerals Technologies from $92.00 to $80.00 and set a "buy" rating on the stock in a report on Monday, April 28th.

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.