Alberta Investment Management Corp Makes New Investment in Minerals Technologies Inc. (NYSE:MTX)

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 purchased a new position in Minerals Technologies Inc. (NYSE:MTX - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 29,500 shares of the basic materials company's stock, valued at approximately $1,875,000. Alberta Investment Management Corp owned approximately 0.09% of Minerals Technologies at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in MTX. FMR LLC lifted its holdings in shares of Minerals Technologies by 42.7% in the fourth quarter. FMR LLC now owns 1,761,925 shares of the basic materials company's stock valued at $134,276,000 after purchasing an additional 527,206 shares in the last quarter. Norges Bank bought a new stake in Minerals Technologies in the 4th quarter valued at about $16,360,000. JPMorgan Chase & Co. grew its stake in shares of Minerals Technologies by 78.7% in the 4th quarter. JPMorgan Chase & Co. now owns 207,033 shares of the basic materials company's stock worth $15,778,000 after purchasing an additional 91,146 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Minerals Technologies in the first quarter valued at approximately $4,429,000. Finally, Invesco Ltd. increased its holdings in Minerals Technologies by 36.8% in the 4th quarter. Invesco Ltd. now owns 256,211 shares of the basic materials company's stock valued at $19,526,000 after buying an additional 68,873 shares during the period. Hedge funds and other institutional investors own 97.29% of the company's stock.

Minerals Technologies Price Performance

Minerals Technologies stock traded up $0.66 during trading hours on Thursday, hitting $58.02. The stock had a trading volume of 87,354 shares, compared to its average volume of 241,193. The stock's fifty day moving average is $57.52 and its two-hundred day moving average is $61.91. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of 967.16 and a beta of 1.22. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.95 and a quick ratio of 1.35. Minerals Technologies Inc. has a 1-year low of $49.54 and a 1-year high of $86.49.

Minerals Technologies (NYSE:MTX - Get Free Report) last issued its earnings results on Thursday, July 24th. The basic materials company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.12. Minerals Technologies had a return on equity of 10.64% and a net margin of 0.10%. The company had revenue of $528.90 million for the quarter, compared to analyst estimates of $529.13 million. During the same period in the prior year, the firm posted $1.65 EPS. The business's revenue was down 2.3% compared to the same quarter last year. As a group, analysts predict that Minerals Technologies Inc. will post 6.62 earnings per share for the current fiscal year.

Minerals Technologies Announces Dividend

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

Wall Street Analyst Weigh In

MTX has been the subject of a number of recent research reports. Wall Street Zen raised Minerals Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Truist Financial boosted their target price on shares of Minerals Technologies from $80.00 to $84.00 and gave the company a "buy" rating in a research report on Monday, July 28th.

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.