Caisse DE Depot ET Placement DU Quebec Makes New $2.01 Million Investment in Minerals Technologies Inc. $MTX

Key Points

• Caisse DE Depot ET Placement DU Quebec has acquired a new stake in Minerals Technologies Inc. (NYSE: MTX), purchasing 31,600 shares valued at approximately $2,009,000.
• Minerals Technologies reported $1.55 earnings per share for the last quarter, surpassing analyst expectations but experiencing a 2.3% decline in revenue compared to the previous year.
• The company recently declared a quarterly dividend of $0.11, translating to an annual yield of 0.7%, with a significant dividend payout ratio of 733.33%.

Caisse DE Depot ET Placement DU Quebec acquired a new stake in shares of Minerals Technologies Inc. (NYSE:MTX - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 31,600 shares of the basic materials company's stock, valued at approximately $2,009,000. Caisse DE Depot ET Placement DU Quebec owned approximately 0.10% of Minerals Technologies as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Quarry LP boosted its holdings in Minerals Technologies by 536.5% during the fourth 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 last quarter. Quantbot Technologies LP purchased a new stake in shares of Minerals Technologies during the first quarter worth $124,000. PharVision Advisers LLC bought a new position in Minerals Technologies in the 4th quarter worth about $236,000. Lido Advisors LLC boosted its position in shares of Minerals Technologies by 39.2% in the fourth quarter. Lido Advisors LLC now owns 3,660 shares of the basic materials company's stock valued at $279,000 after acquiring an additional 1,030 shares during the period. Finally, EP Wealth Advisors LLC grew its position in shares of Minerals Technologies by 12.1% during the 4th quarter. EP Wealth Advisors LLC now owns 3,907 shares of the basic materials company's stock valued at $298,000 after purchasing an additional 421 shares in the last quarter. Institutional investors and hedge funds own 97.29% of the company's stock.

Minerals Technologies Stock Performance

Shares of MTX traded down $0.60 during mid-day trading on Thursday, hitting $64.16. 107,787 shares of the company traded hands, compared to its average volume of 237,219. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.35 and a current ratio of 1.95. Minerals Technologies Inc. has a 1 year low of $49.54 and a 1 year high of $86.49. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of 1,069.34 and a beta of 1.22. The stock has a 50-day moving average price of $59.96 and a two-hundred day moving average price of $60.07.

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

Minerals Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 15th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.44 dividend on an annualized basis and a yield of 0.7%. Minerals Technologies's dividend payout ratio is presently 733.33%.

Analyst Ratings Changes

Several analysts have recently weighed in on MTX shares. Truist Financial raised their price objective on shares of Minerals Technologies from $80.00 to $84.00 and gave the company 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 report on Saturday, August 2nd. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $84.00.

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.