American Century Companies Inc. Boosts Stake in Minerals Technologies Inc. $MTX

Key Points

• American Century Companies Inc. increased its stake in Minerals Technologies Inc. by 24.0% during the first quarter, holding over 1 million shares valued at approximately $67.9 million.
• Minerals Technologies' stock is receiving positive attention, with analysts upgrading their ratings and increasing target prices, including a recent lift from Truist Financial from $80.00 to $84.00.
• The company announced a quarterly dividend of $0.11, translating to an annualized yield of 0.7%, with a high payout ratio of 733.33%.

American Century Companies Inc. grew its stake in shares of Minerals Technologies Inc. (NYSE:MTX - Free Report) by 24.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,068,079 shares of the basic materials company's stock after buying an additional 206,906 shares during the quarter. American Century Companies Inc. owned 3.37% of Minerals Technologies worth $67,898,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in MTX. Quarry LP raised its position in Minerals Technologies by 536.5% in 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 period. PharVision Advisers LLC purchased a new position in Minerals Technologies in the 4th quarter worth $236,000. Sterling Capital Management LLC raised its position in Minerals Technologies by 32.9% in the 4th quarter. Sterling Capital Management LLC now owns 3,589 shares of the basic materials company's stock worth $274,000 after purchasing an additional 888 shares during the period. Lido Advisors LLC raised its position in Minerals Technologies by 39.2% in the 4th quarter. Lido Advisors LLC now owns 3,660 shares of the basic materials company's stock worth $279,000 after purchasing an additional 1,030 shares during the period. Finally, EP Wealth Advisors LLC raised its position in Minerals Technologies by 12.1% in the 4th quarter. EP Wealth Advisors LLC now owns 3,907 shares of the basic materials company's stock worth $298,000 after purchasing an additional 421 shares during the period. Hedge funds and other institutional investors own 97.29% of the company's stock.

Wall Street Analyst Weigh In

MTX has been the topic of a number of analyst reports. Truist Financial lifted 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. Wall Street Zen upgraded shares of Minerals Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd.

Minerals Technologies Price Performance

Shares of Minerals Technologies stock opened at $60.46 on Tuesday. The firm has a market cap of $1.90 billion, a PE ratio of 1,007.85 and a beta of 1.22. Minerals Technologies Inc. has a 12-month low of $49.54 and a 12-month high of $86.49. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.57. The company's fifty day simple moving average is $57.91 and its two-hundred day simple moving average is $60.76.

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

Minerals Technologies Dividend Announcement

The company also recently declared 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. This represents a $0.44 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Friday, August 15th. Minerals Technologies's dividend payout ratio (DPR) is 733.33%.

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.

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