Citadel Advisors LLC Has $3.28 Million Stake in Minerals Technologies Inc. (NYSE:MTX)

Citadel Advisors LLC lowered its position in Minerals Technologies Inc. (NYSE:MTX - Free Report) by 69.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 43,027 shares of the basic materials company's stock after selling 98,294 shares during the quarter. Citadel Advisors LLC owned 0.13% of Minerals Technologies worth $3,279,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its stake in shares of Minerals Technologies by 2.7% during the fourth quarter. Principal Financial Group Inc. now owns 166,647 shares of the basic materials company's stock worth $12,700,000 after purchasing an additional 4,356 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its stake in shares of Minerals Technologies by 74.4% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 17,264 shares of the basic materials company's stock worth $1,316,000 after purchasing an additional 7,364 shares in the last quarter. M&T Bank Corp lifted its stake in shares of Minerals Technologies by 13.2% during the fourth quarter. M&T Bank Corp now owns 37,770 shares of the basic materials company's stock worth $2,878,000 after purchasing an additional 4,402 shares in the last quarter. KBC Group NV lifted its stake in shares of Minerals Technologies by 43.9% during the fourth quarter. KBC Group NV now owns 1,478 shares of the basic materials company's stock worth $113,000 after purchasing an additional 451 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Minerals Technologies by 1.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 511,205 shares of the basic materials company's stock worth $38,330,000 after purchasing an additional 7,488 shares in the last quarter. Institutional investors and hedge funds own 97.29% of the company's stock.

Insiders Place Their Bets

In related news, Director Kristina M. Johnson acquired 1,000 shares of the business's stock in a transaction dated Friday, May 2nd. The stock was bought at an average price of $53.79 per share, for a total transaction of $53,790.00. Following the transaction, the director now owns 1,400 shares of the company's stock, valued at approximately $75,306. The trade was a 250.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.30% of the stock is currently owned by insiders.

Minerals Technologies Stock Performance

Shares of NYSE:MTX traded down $0.49 during trading on Monday, hitting $58.28. 263,928 shares of the company traded hands, compared to its average volume of 187,465. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of 11.25 and a beta of 1.22. The business's fifty day moving average is $57.83 and its 200-day moving average is $69.24. Minerals Technologies Inc. has a one year low of $49.54 and a one year high of $90.30. The company has a quick ratio of 1.98, a current ratio of 2.84 and a debt-to-equity ratio of 0.54.

Minerals Technologies (NYSE:MTX - Get Free Report) last posted its earnings results on Thursday, April 24th. The basic materials company reported $1.14 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.02). Minerals Technologies had a net margin of 7.89% and a return on equity of 11.49%. The company had revenue of $491.80 million for the quarter, compared to the consensus estimate of $502.03 million. During the same period last year, the company posted $1.49 earnings per share. The firm's revenue for the quarter was down 8.0% compared to the same quarter last year. As a group, equities analysts predict that Minerals Technologies Inc. will post 6.62 earnings per share for the current fiscal year.

Minerals Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 30th will be given a $0.11 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.44 dividend on an annualized basis and a yield of 0.75%. Minerals Technologies's dividend payout ratio (DPR) is -57.14%.

Wall Street Analyst Weigh In

Several research firms recently commented on MTX. Wall Street Zen cut Minerals Technologies from a "buy" rating to a "hold" rating in a research note on Wednesday, April 9th. Truist Financial cut their price target on Minerals Technologies from $92.00 to $80.00 and set a "buy" rating on the stock in a research note on Monday, April 28th.

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.