AlphaQuest LLC Has $2.46 Million Stock Position in Minerals Technologies Inc. $MTX

Key Points

• AlphaQuest LLC significantly increased its stake in Minerals Technologies Inc. by acquiring an additional 18,347 shares, raising its holdings to 38,702 shares, valued at approximately $2.46 million.
• Minerals Technologies reported earnings of $1.55 per share for the last quarter, surpassing analysts' expectations, although revenue fell by 2.3% compared to the previous year.
• The company announced a quarterly dividend of $0.11, which translates to a 0.7% dividend yield, set to be paid to stockholders of record on August 15th.

AlphaQuest LLC boosted its stake in Minerals Technologies Inc. (NYSE:MTX - Free Report) by 90.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 38,702 shares of the basic materials company's stock after acquiring an additional 18,347 shares during the period. AlphaQuest LLC owned 0.12% of Minerals Technologies worth $2,460,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in MTX. Balyasny Asset Management L.P. boosted its holdings in Minerals Technologies by 4.6% in the 4th 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 in the last quarter. EP Wealth Advisors LLC boosted its stake in shares of Minerals Technologies by 12.1% during the 4th quarter. EP Wealth Advisors LLC now owns 3,907 shares of the basic materials company's stock worth $298,000 after acquiring an additional 421 shares in the last quarter. Hsbc Holdings PLC boosted its position in shares of Minerals Technologies by 9.2% in the 1st quarter. Hsbc Holdings PLC now owns 5,116 shares of the basic materials company's stock worth $325,000 after buying an additional 431 shares in the last quarter. QRG Capital Management Inc. boosted its position in shares of Minerals Technologies by 7.3% in the 1st quarter. QRG Capital Management Inc. now owns 6,955 shares of the basic materials company's stock worth $442,000 after buying an additional 474 shares in the last quarter. Finally, Quarry LP raised its position in shares of Minerals Technologies by 536.5% during the 4th quarter. Quarry LP now owns 732 shares of the basic materials company's stock worth $56,000 after purchasing an additional 617 shares during the last quarter. Institutional investors and hedge funds own 97.29% of the company's stock.

Minerals Technologies Trading Up 0.2%

MTX traded up $0.16 on Wednesday, reaching $63.90. 42,878 shares of the company's stock were exchanged, compared to its average volume of 237,540. The company's 50 day moving average is $58.65 and its 200-day moving average is $60.31. The company has a market cap of $2.01 billion, a price-to-earnings ratio of 1,065.36 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. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.35 and a current ratio of 1.95.

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

Minerals Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.44 annualized dividend and a yield of 0.7%. Minerals Technologies's payout ratio is presently 733.33%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Wall Street Zen upgraded Minerals Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Truist Financial raised their target price on shares of Minerals Technologies from $80.00 to $84.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $84.00.

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.