Brandes Investment Partners LP raised its holdings in shares of Minerals Technologies Inc. (NYSE:MTX - Free Report) by 22.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 819,908 shares of the basic materials company's stock after acquiring an additional 152,950 shares during the quarter. Brandes Investment Partners LP owned approximately 2.63% of Minerals Technologies worth $49,973,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the business. LPL Financial LLC grew its stake in shares of Minerals Technologies by 5.1% during the 4th quarter. LPL Financial LLC now owns 10,196 shares of the basic materials company's stock worth $621,000 after acquiring an additional 495 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Minerals Technologies by 3.6% during the 4th quarter. Franklin Resources Inc. now owns 47,669 shares of the basic materials company's stock worth $2,905,000 after acquiring an additional 1,671 shares in the last quarter. State of Wyoming grew its stake in shares of Minerals Technologies by 214.0% during the 4th quarter. State of Wyoming now owns 6,284 shares of the basic materials company's stock worth $383,000 after acquiring an additional 4,283 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Minerals Technologies by 46.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 310,604 shares of the basic materials company's stock worth $18,931,000 after acquiring an additional 97,866 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Minerals Technologies by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 897,850 shares of the basic materials company's stock worth $54,732,000 after acquiring an additional 4,693 shares in the last quarter. 97.29% of the stock is owned by institutional investors.
Insider Transactions at Minerals Technologies
In other Minerals Technologies news, VP Timothy Jordan sold 6,000 shares of the firm's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $80.27, for a total transaction of $481,620.00. Following the completion of the sale, the vice president owned 1,279 shares of the company's stock, valued at $102,665.33. This trade represents a 82.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.70% of the stock is owned by corporate insiders.
Minerals Technologies Trading Up 1.2%
Shares of Minerals Technologies stock opened at $76.48 on Wednesday. The business has a fifty day simple moving average of $74.60 and a two-hundred day simple moving average of $68.95. Minerals Technologies Inc. has a 1 year low of $53.10 and a 1 year high of $84.34. The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of 14.79 and a beta of 1.13. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.13 and a quick ratio of 1.47.
Minerals Technologies (NYSE:MTX - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The basic materials company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.12. Minerals Technologies had a return on equity of 10.40% and a net margin of 7.60%.The business had revenue of $546.90 million during the quarter, compared to the consensus estimate of $516.39 million. During the same quarter last year, the firm posted $1.14 EPS. The company's quarterly revenue was up 11.2% on a year-over-year basis. Research analysts forecast that Minerals Technologies Inc. will post 6.33 EPS for the current year.
Minerals Technologies Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Tuesday, June 2nd will be issued a dividend of $0.12 per share. 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 dividend payout ratio (DPR) is currently 9.28%.
Analyst Ratings Changes
Several brokerages have recently weighed in on MTX. Seaport Research Partners reaffirmed a "buy" rating on shares of Minerals Technologies in a research note on Monday, May 4th. Truist Financial raised their price target on shares of 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 raised shares of Minerals Technologies from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 2nd. Finally, Weiss Ratings raised shares of Minerals Technologies from a "sell (d+)" rating to a "hold (c+)" rating in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $90.00.
View Our Latest Stock Analysis on Minerals Technologies
About Minerals Technologies
(
Free Report)
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Minerals Technologies, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Minerals Technologies wasn't on the list.
While Minerals Technologies currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Robotics and automation are rapidly becoming essential infrastructure across healthcare, manufacturing, logistics, and many other industries.
"Physical AI" is coming to the United States, and there are four ways that investors can gain exposure to this new robotics revolution. Plus, learn which seven companies are most positioned to benefit as intelligent robots enter the workforce.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
