29,500 Shares in Minerals Technologies Inc. (NYSE:MTX) Purchased by Alberta Investment Management Corp

Key Points

• Alberta Investment Management Corp has acquired 29,500 shares of Minerals Technologies Inc., valued at approximately $1.87 million, during the first quarter, representing about 0.09% ownership in the company.
• Minerals Technologies recently reported strong quarterly earnings with an EPS of $1.55, surpassing analyst expectations, despite a year-over-year revenue decline.
• The company declared a quarterly dividend of $0.11 per share, which will be paid on September 5th, resulting in an annualized dividend yield of 0.8% and a payout ratio of 733.33%.

Alberta Investment Management Corp bought a new stake in Minerals Technologies Inc. (NYSE:MTX - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 29,500 shares of the basic materials company's stock, valued at approximately $1,875,000. Alberta Investment Management Corp owned 0.09% of Minerals Technologies as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Balyasny Asset Management L.P. grew its holdings in Minerals Technologies by 4.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 5,312 shares of the basic materials company's stock valued at $405,000 after purchasing an additional 235 shares during the last quarter. Bank of Montreal Can increased its holdings in Minerals Technologies by 4.5% during the 4th quarter. Bank of Montreal Can now owns 7,309 shares of the basic materials company's stock valued at $557,000 after acquiring an additional 312 shares in the last quarter. O Shaughnessy Asset Management LLC raised its position in Minerals Technologies by 5.1% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 8,021 shares of the basic materials company's stock worth $611,000 after acquiring an additional 389 shares during the last quarter. EP Wealth Advisors LLC lifted its holdings in shares of Minerals Technologies by 12.1% in the fourth quarter. EP Wealth Advisors LLC now owns 3,907 shares of the basic materials company's stock valued at $298,000 after purchasing an additional 421 shares in the last quarter. Finally, QRG Capital Management Inc. increased its stake in shares of Minerals Technologies by 7.3% during the 1st quarter. QRG Capital Management Inc. now owns 6,955 shares of the basic materials company's stock worth $442,000 after purchasing an additional 474 shares in the last quarter. Hedge funds and other institutional investors own 97.29% of the company's stock.

Minerals Technologies Trading Up 2.5%

MTX traded up $1.39 during trading on Tuesday, hitting $57.93. The company's stock had a trading volume of 197,486 shares, compared to its average volume of 304,708. The firm's 50 day moving average price is $57.56 and its 200-day moving average price is $61.94. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.95 and a quick ratio of 1.35. The stock has a market cap of $1.82 billion, a PE ratio of 965.71 and a beta of 1.22. Minerals Technologies Inc. has a twelve month low of $49.54 and a twelve month high of $86.49.

Minerals Technologies (NYSE:MTX - Get Free Report) last released its earnings results on Thursday, July 24th. The basic materials company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.12. The business had revenue of $528.90 million for the quarter, compared to analysts' expectations of $529.13 million. Minerals Technologies had a net margin of 0.10% and a return on equity of 10.64%. The company's quarterly revenue was down 2.3% on a year-over-year basis. During the same period last year, the company earned $1.65 earnings per share. On average, analysts expect that Minerals Technologies Inc. will post 6.62 earnings per share for the current year.

Minerals Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 15th will be given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Friday, August 15th. Minerals Technologies's dividend payout ratio is presently 733.33%.

Wall Street Analysts Forecast Growth

MTX has been the topic of a number of recent research reports. Truist Financial upped their target price on Minerals Technologies from $80.00 to $84.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Wall Street Zen upgraded Minerals Technologies from a "hold" rating to a "buy" rating in a report on Saturday.

Minerals Technologies Company 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.