AlphaQuest LLC Purchases 20,411 Shares of Minerals Technologies Inc. $MTX

Key Points

• AlphaQuest LLC increased its stake in Minerals Technologies by 281.4% in the fourth quarter, buying 20,411 additional shares to bring its total holding to 27,665 shares worth about $1.69 million.
• The company’s latest quarterly results topped expectations, with EPS of $1.38 and revenue of $546.9 million, both ahead of analyst estimates and up 11.2% year over year.
• Minerals Technologies declared a quarterly dividend of $0.12 per share, while Wall Street sentiment remains mixed but cautious, with an average rating of Hold and a $90 average price target.

AlphaQuest LLC raised its stake in Minerals Technologies Inc. (NYSE:MTX - Free Report) by 281.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,665 shares of the basic materials company's stock after purchasing an additional 20,411 shares during the quarter. AlphaQuest LLC owned approximately 0.09% of Minerals Technologies worth $1,686,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. American Century Companies Inc. grew its stake in Minerals Technologies by 3.1% in the third quarter. American Century Companies Inc. now owns 1,324,392 shares of the basic materials company's stock valued at $82,271,000 after purchasing an additional 39,860 shares in the last quarter. Ameriprise Financial Inc. grew its stake in Minerals Technologies by 26.5% in the second quarter. Ameriprise Financial Inc. now owns 496,215 shares of the basic materials company's stock valued at $27,327,000 after purchasing an additional 103,853 shares in the last quarter. Bank of America Corp DE grew its stake in Minerals Technologies by 22.2% in the second quarter. Bank of America Corp DE now owns 483,970 shares of the basic materials company's stock valued at $26,652,000 after purchasing an additional 87,989 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Minerals Technologies by 1.7% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 389,254 shares of the basic materials company's stock valued at $24,180,000 after purchasing an additional 6,423 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of Minerals Technologies by 3.3% during the 3rd quarter. Victory Capital Management Inc. now owns 295,972 shares of the basic materials company's stock worth $18,386,000 after acquiring an additional 9,395 shares during the period. 97.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Seaport Research Partners reiterated a "buy" rating on shares of Minerals Technologies in a research note on Monday, May 4th. Truist Financial lifted their target price on Minerals Technologies from $89.00 to $90.00 and gave the stock a "buy" rating in a research note on Monday, May 4th. Wall Street Zen upgraded Minerals Technologies from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 2nd. Finally, Weiss Ratings upgraded Minerals Technologies from a "sell (d+)" rating to a "hold (c+)" rating in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, Minerals Technologies has an average rating of "Hold" and an average price target of $90.00.

Minerals Technologies Stock Performance

NYSE:MTX opened at $78.69 on Thursday. The stock has a market cap of $2.44 billion, a P/E ratio of 15.22 and a beta of 1.12. The stock has a 50 day simple moving average of $73.15 and a 200 day simple moving average of $67.72. The company has a current ratio of 2.13, a quick ratio of 1.47 and a debt-to-equity ratio of 0.54. Minerals Technologies Inc. has a 1-year low of $53.10 and a 1-year high of $84.34.

Minerals Technologies (NYSE:MTX - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The basic materials company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.12. The business had revenue of $546.90 million during the quarter, compared to analysts' expectations of $516.39 million. Minerals Technologies had a return on equity of 10.40% and a net margin of 7.60%.The firm's revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period last year, the firm posted $1.14 EPS. Research analysts anticipate that Minerals Technologies Inc. will post 6.33 earnings per share for the current year.

Minerals Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Tuesday, June 2nd will be issued a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, June 2nd. This represents a $0.48 annualized dividend and a yield of 0.6%. Minerals Technologies's payout ratio is currently 9.28%.

Insiders Place Their Bets

In other Minerals Technologies news, VP Timothy Jordan sold 6,000 shares of Minerals Technologies stock in a transaction on Monday, May 11th. The stock was sold at an average price of $80.27, for a total value of $481,620.00. Following the completion of the transaction, the vice president directly owned 1,279 shares of the company's stock, valued at $102,665.33. The trade was a 82.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.70% of the stock is owned by corporate insiders.

Minerals Technologies Company 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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