Aristeia Capital L.L.C. Takes $352,000 Position in Minerals Technologies Inc. $MTX

Key Points

• Aristeia Capital L.L.C. has invested $352,000 in Minerals Technologies Inc., acquiring 5,537 shares in the first quarter.
• Minerals Technologies recently had its target price raised to $84.00 by Truist Financial, maintaining a "buy" rating.
• The company reported a net margin of 0.10% and a quarterly revenue of $528.90 million, slightly below analyst estimates.

Aristeia Capital L.L.C. bought a new position in shares of Minerals Technologies Inc. (NYSE:MTX - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,537 shares of the basic materials company's stock, valued at approximately $352,000.

Several other large investors have also modified their holdings of MTX. Quarry LP grew its position in shares of Minerals Technologies by 105.3% in the first quarter. Quarry LP now owns 1,503 shares of the basic materials company's stock valued at $96,000 after purchasing an additional 771 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Minerals Technologies in the first quarter valued at approximately $124,000. State of Wyoming grew its position in shares of Minerals Technologies by 11.5% in the first quarter. State of Wyoming now owns 2,684 shares of the basic materials company's stock valued at $171,000 after purchasing an additional 277 shares during the last quarter. PharVision Advisers LLC acquired a new stake in Minerals Technologies during the fourth quarter worth approximately $236,000. Finally, EP Wealth Advisors LLC boosted its position in Minerals Technologies by 12.0% during the first quarter. EP Wealth Advisors LLC now owns 4,377 shares of the basic materials company's stock worth $278,000 after acquiring an additional 470 shares during the last quarter. 97.29% of the stock is currently owned by institutional investors and hedge funds.

Minerals Technologies Trading Down 2.0%

NYSE:MTX traded down $1.28 during trading hours on Friday, reaching $63.72. 166,711 shares of the company were exchanged, compared to its average volume of 216,688. 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 firm has a market cap of $2.00 billion, a price-to-earnings ratio of 1,062.11 and a beta of 1.22. Minerals Technologies Inc. has a 52-week low of $49.54 and a 52-week high of $86.49. The stock has a 50 day simple moving average of $60.87 and a 200 day simple moving average of $59.73.

Minerals Technologies (NYSE:MTX - Get Free Report) last posted 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. The company had revenue of $528.90 million for the quarter, compared to the consensus estimate of $529.13 million. Minerals Technologies had a net margin of 0.10% and a return on equity of 10.64%. Minerals Technologies's revenue was down 2.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.65 earnings per share. As a group, analysts predict that Minerals Technologies Inc. will post 6.62 EPS for the current year.

Minerals Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 15th were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 15th. Minerals Technologies's dividend payout ratio (DPR) is currently 733.33%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Wall Street Zen lowered shares of Minerals Technologies from a "strong-buy" rating to a "buy" rating in a research report on Saturday. 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, Minerals Technologies currently has an average rating of "Buy" and a consensus target price of $84.00.

About Minerals Technologies

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.