Aristeia Capital L.L.C. Invests $352,000 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 stake in shares of Minerals Technologies Inc. (NYSE:MTX - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 5,537 shares of the basic materials company's stock, valued at approximately $352,000.

A number of other hedge funds have also recently added to or reduced their stakes in MTX. Quarry LP increased its holdings in 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 buying an additional 771 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Minerals Technologies during the 1st quarter valued at about $124,000. State of Wyoming grew its position in shares of Minerals Technologies by 11.5% during the 1st quarter. State of Wyoming now owns 2,684 shares of the basic materials company's stock valued at $171,000 after acquiring an additional 277 shares during the period. PharVision Advisers LLC purchased a new position in shares of Minerals Technologies in the 4th quarter valued at about $236,000. Finally, EP Wealth Advisors LLC raised its holdings in Minerals Technologies by 12.0% in the 1st quarter. EP Wealth Advisors LLC now owns 4,377 shares of the basic materials company's stock worth $278,000 after purchasing an additional 470 shares during the period. 97.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MTX. Truist Financial upped their target price on Minerals Technologies from $80.00 to $84.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. Wall Street Zen raised shares of Minerals Technologies from a "buy" rating to a "strong-buy" rating in a report on Friday. One research analyst has rated the stock with a Buy rating, According to MarketBeat, Minerals Technologies presently has an average rating of "Buy" and an average target price of $84.00.

Minerals Technologies Stock Up 1.2%

Shares of NYSE MTX opened at $64.03 on Monday. The company's 50-day simple moving average is $60.28 and its 200-day simple moving average is $59.80. Minerals Technologies Inc. has a 52-week low of $49.54 and a 52-week high of $86.49. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of 1,067.41 and a beta of 1.22. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.57.

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

Minerals Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 15th were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Friday, August 15th. Minerals Technologies's dividend payout ratio is currently 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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