Bank of America Corp DE Has $33.14 Million Holdings in Minerals Technologies Inc. (NYSE:MTX)

Bank of America Corp DE lifted its holdings in shares of Minerals Technologies Inc. (NYSE:MTX - Free Report) by 4.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 434,789 shares of the basic materials company's stock after acquiring an additional 16,683 shares during the period. Bank of America Corp DE owned approximately 1.36% of Minerals Technologies worth $33,135,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MTX. Algert Global LLC raised its holdings in shares of Minerals Technologies by 18.5% in the 4th quarter. Algert Global LLC now owns 52,767 shares of the basic materials company's stock worth $4,021,000 after buying an additional 8,255 shares in the last quarter. AXA S.A. raised its stake in Minerals Technologies by 4.5% during the fourth quarter. AXA S.A. now owns 26,688 shares of the basic materials company's stock worth $2,034,000 after acquiring an additional 1,161 shares in the last quarter. AQR Capital Management LLC raised its stake in Minerals Technologies by 5.3% during the fourth quarter. AQR Capital Management LLC now owns 99,468 shares of the basic materials company's stock worth $7,580,000 after acquiring an additional 5,051 shares in the last quarter. Lido Advisors LLC lifted its holdings in shares of Minerals Technologies by 39.2% during the fourth quarter. Lido Advisors LLC now owns 3,660 shares of the basic materials company's stock valued at $279,000 after acquiring an additional 1,030 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Minerals Technologies by 9.6% in the 4th quarter. Northern Trust Corp now owns 498,929 shares of the basic materials company's stock valued at $38,023,000 after purchasing an additional 43,546 shares in the last quarter. 97.29% of the stock is owned by institutional investors.

Minerals Technologies Price Performance

MTX stock traded down $0.18 during midday trading on Thursday, reaching $58.00. 23,470 shares of the company's stock traded hands, compared to its average volume of 186,708. The company has a 50-day simple moving average of $58.40 and a two-hundred day simple moving average of $69.84. The company has a quick ratio of 1.98, a current ratio of 2.84 and a debt-to-equity ratio of 0.54. Minerals Technologies Inc. has a 1-year low of $49.54 and a 1-year high of $90.30. The company has a market cap of $1.84 billion, a price-to-earnings ratio of 11.20 and a beta of 1.22.

Minerals Technologies (NYSE:MTX - Get Free Report) last announced its earnings results 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). Minerals Technologies had a return on equity of 11.49% and a net margin of 7.89%. 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 posted $1.49 EPS. Minerals Technologies's revenue for the quarter was down 8.0% on a year-over-year basis. On average, analysts anticipate that Minerals Technologies Inc. will post 6.62 earnings per share for the current year.

Minerals Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 30th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend is Friday, May 30th. Minerals Technologies's payout ratio is presently -57.14%.

Insider Buying and Selling at Minerals Technologies

In other news, Director Kristina M. Johnson acquired 1,000 shares of the firm's stock in a transaction on Friday, May 2nd. The shares were purchased at an average cost of $53.79 per share, for a total transaction of $53,790.00. Following the transaction, the director now owns 1,400 shares of the company's stock, valued at approximately $75,306. This 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 this link. Corporate insiders own 3.30% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Truist Financial dropped their target price on shares of Minerals Technologies from $92.00 to $80.00 and set a "buy" rating for the company in a research report on Monday, April 28th. StockNews.com lowered shares of Minerals Technologies from a "buy" rating to a "hold" rating in a report on Wednesday, April 9th.

Minerals Technologies Profile

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.