The Manufacturers Life Insurance Company acquired a new stake in shares of Minerals Technologies Inc. (NYSE:MTX - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 14,801 shares of the basic materials company's stock, valued at approximately $1,095,000.
A number of other hedge funds have also added to or reduced their stakes in the stock. Allworth Financial LP purchased a new stake in shares of Minerals Technologies in the 2nd quarter worth about $27,000. Global Retirement Partners LLC bought a new stake in shares of Minerals Technologies during the 2nd quarter valued at about $30,000. Parallel Advisors LLC increased its position in shares of Minerals Technologies by 36.0% during the first quarter. Parallel Advisors LLC now owns 552 shares of the basic materials company's stock valued at $39,000 after buying an additional 146 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Minerals Technologies by 626.8% during the second quarter. EverSource Wealth Advisors LLC now owns 596 shares of the basic materials company's stock valued at $33,000 after buying an additional 514 shares during the period. Finally, Persistent Asset Partners Ltd bought a new position in Minerals Technologies in the second quarter worth about $50,000. 97.29% of the stock is owned by hedge funds and other institutional investors.
Minerals Technologies Stock Performance
Shares of MTX stock opened at $71.91 on Friday. The company's fifty day moving average price is $73.26 and its 200-day moving average price is $73.41. The stock has a market cap of $2.24 billion, a PE ratio of -33.14 and a beta of 1.14. The company has a current ratio of 1.43, a quick ratio of 1.00 and a debt-to-equity ratio of 0.60. Minerals Technologies Inc. has a 12 month low of $53.94 and a 12 month high of $84.34.
Minerals Technologies (NYSE:MTX - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The basic materials company reported $1.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.64 by ($0.04). Minerals Technologies had a positive return on equity of 10.63% and a negative net margin of 3.13%.The business had revenue of $548.40 million during the quarter, compared to the consensus estimate of $558.77 million. During the same quarter in the previous year, the business earned $1.55 earnings per share. The firm's revenue was up 3.7% compared to the same quarter last year. On average, equities analysts expect that Minerals Technologies Inc. will post 6.03 EPS for the current fiscal year.
Minerals Technologies Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, September 4th. Shareholders of record on Friday, August 14th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.7%. Minerals Technologies's dividend payout ratio (DPR) is currently -22.12%.
Analysts Set New Price Targets
MTX has been the subject of several research analyst reports. Wall Street Zen lowered shares of Minerals Technologies from a "strong-buy" rating to a "hold" rating in a report on Saturday, August 8th. Weiss Ratings downgraded Minerals Technologies from a "hold (c+)" rating to a "sell (d+)" rating in a report on Monday, August 3rd. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $90.00.
Read Our Latest Stock Analysis on MTX
About Minerals Technologies
(
Free Report)
Minerals Technologies Inc develops, produces and processes a broad range of mineral-based products and solutions that serve a variety of industrial applications. Its offerings include bentonite, perlite, precipitated calcium carbonate (PCC), mineral sands, foundry additives, performance minerals and specialty chemicals designed to enhance performance in markets such as paper, steel, construction, oil and gas, environmental remediation and consumer products.
The company operates through several business segments, including Specialty Minerals, Refractory Minerals, Performance Materials and Recycled Materials.
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