33,581 Shares in Minerals Technologies Inc. $MTX Purchased by Deutsche Bank AG

Key Points

• Deutsche Bank acquired 33,581 shares of Minerals Technologies in the second quarter, worth approximately $2.48 million. Institutional investors collectively own 97.29% of the company.
• Analyst sentiment is mixed, with ratings split among Buy, Hold and Sell; the consensus rating is Hold with a $90 price target, compared with MTX’s reported $72.11 share price.
• Minerals Technologies narrowly missed quarterly earnings and revenue estimates, reporting $1.60 EPS and $548.4 million in revenue, while maintaining a quarterly dividend of $0.12 per share.

Deutsche Bank AG acquired a new stake in Minerals Technologies Inc. (NYSE:MTX - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The fund acquired 33,581 shares of the basic materials company's stock, valued at approximately $2,484,000. Deutsche Bank AG owned 0.11% of Minerals Technologies as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. LSV Asset Management boosted its holdings in Minerals Technologies by 12.2% in the 4th quarter. LSV Asset Management now owns 211,522 shares of the basic materials company's stock worth $12,892,000 after buying an additional 23,000 shares during the period. Brandes Investment Partners LP lifted its position in shares of Minerals Technologies by 22.9% during the fourth quarter. Brandes Investment Partners LP now owns 819,908 shares of the basic materials company's stock worth $49,973,000 after acquiring an additional 152,950 shares in the last quarter. UBS Group AG boosted its holdings in shares of Minerals Technologies by 49.5% in the fourth quarter. UBS Group AG now owns 38,541 shares of the basic materials company's stock worth $2,349,000 after acquiring an additional 12,761 shares during the period. AlphaQuest LLC boosted its holdings in shares of Minerals Technologies by 281.4% in the fourth quarter. AlphaQuest LLC now owns 27,665 shares of the basic materials company's stock worth $1,686,000 after acquiring an additional 20,411 shares during the period. Finally, OP Asset Management Ltd purchased a new position in shares of Minerals Technologies in the first quarter valued at $1,282,000. 97.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on MTX shares. Weiss Ratings lowered Minerals Technologies from a "hold (c+)" rating to a "sell (d+)" rating in a research note on Monday, August 3rd. Wall Street Zen cut Minerals Technologies from a "strong-buy" rating to a "hold" rating in a research report on Saturday, August 8th. Truist Financial raised their price objective on shares of Minerals Technologies from $89.00 to $90.00 and gave the company a "buy" rating in a research report on Monday, May 4th. Finally, Seaport Research Partners reaffirmed a "buy" rating on shares of Minerals Technologies in a report on Monday, May 4th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Minerals Technologies presently has an average rating of "Hold" and a consensus price target of $90.00.

Minerals Technologies Price Performance

Shares of NYSE:MTX opened at $72.11 on Friday. The company's fifty day moving average price is $74.10 and its 200-day moving average price is $73.49. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.43 and a quick ratio of 1.00. The firm has a market capitalization of $2.24 billion, a price-to-earnings ratio of -33.23 and a beta of 1.14. Minerals Technologies Inc. has a one year low of $53.94 and a one year high of $84.34.

Minerals Technologies (NYSE:MTX - Get Free Report) last announced its 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). The company had revenue of $548.40 million during the quarter, compared to analysts' expectations of $558.77 million. Minerals Technologies had a positive return on equity of 10.63% and a negative net margin of 3.13%.The firm's revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.55 earnings per share. On average, equities research analysts anticipate that Minerals Technologies Inc. will post 6.03 earnings per share for the current fiscal year.

Minerals Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Friday, August 14th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, August 14th. This represents a $0.48 annualized dividend and a dividend yield of 0.7%. Minerals Technologies's dividend payout ratio is -22.12%.

Minerals Technologies Profile

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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