Algert Global LLC Buys 8,255 Shares of Minerals Technologies Inc. (NYSE:MTX)

Algert Global LLC raised its position in Minerals Technologies Inc. (NYSE:MTX - Free Report) by 18.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,767 shares of the basic materials company's stock after acquiring an additional 8,255 shares during the quarter. Algert Global LLC owned approximately 0.17% of Minerals Technologies worth $4,021,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of MTX. FMR LLC increased its position in Minerals Technologies by 42.7% during the fourth quarter. FMR LLC now owns 1,761,925 shares of the basic materials company's stock worth $134,276,000 after buying an additional 527,206 shares during the last quarter. Norges Bank acquired a new position in shares of Minerals Technologies during the 4th quarter worth approximately $16,360,000. American Century Companies Inc. raised its stake in 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 valued at $65,630,000 after acquiring an additional 204,371 shares during the period. Raymond James Financial Inc. acquired a new stake in Minerals Technologies during the 4th quarter valued at $10,797,000. Finally, Foundry Partners LLC acquired a new stake in Minerals Technologies during the 4th quarter valued at $7,735,000. Institutional investors own 97.29% of the company's stock.

Insider Activity at Minerals Technologies

In related news, Director Kristina M. Johnson purchased 1,000 shares of the 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 transaction, the director now owns 1,400 shares of the company's stock, valued at $75,306. This represents a 250.00% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.30% of the stock is owned by corporate insiders.

Minerals Technologies Price Performance

Shares of MTX stock traded up $2.10 on Monday, hitting $58.10. 45,739 shares of the company's stock were exchanged, compared to its average volume of 182,360. The company has a 50 day moving average of $59.78 and a 200 day moving average of $70.73. The stock has a market cap of $1.84 billion, a P/E ratio of 11.20 and a beta of 1.22. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.84 and a quick ratio of 1.98. Minerals Technologies Inc. has a 12 month low of $49.54 and a 12 month high of $90.30.

Minerals Technologies (NYSE:MTX - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The basic materials company reported $1.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.16 by ($0.02). The company had revenue of $491.80 million for the quarter, compared to analyst estimates of $502.03 million. Minerals Technologies had a return on equity of 11.49% and a net margin of 7.89%. Minerals Technologies's revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.49 earnings per share. On average, equities research analysts predict that Minerals Technologies Inc. will post 6.62 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. StockNews.com lowered shares of Minerals Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday, April 9th. Truist Financial decreased their target price 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.