Citadel Advisors LLC Sells 98,294 Shares of Minerals Technologies Inc. (NYSE:MTX)

Citadel Advisors LLC lowered its position in Minerals Technologies Inc. (NYSE:MTX - Free Report) by 69.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 43,027 shares of the basic materials company's stock after selling 98,294 shares during the period. Citadel Advisors LLC owned 0.13% of Minerals Technologies worth $3,279,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Balyasny Asset Management L.P. lifted its position in Minerals Technologies by 4.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 5,312 shares of the basic materials company's stock valued at $405,000 after acquiring an additional 235 shares during the period. Bank of America Corp DE increased its stake in shares of Minerals Technologies by 4.0% during the fourth quarter. Bank of America Corp DE now owns 434,789 shares of the basic materials company's stock valued at $33,135,000 after purchasing an additional 16,683 shares in the last quarter. Algert Global LLC increased its stake in shares of Minerals Technologies by 18.5% during the fourth quarter. Algert Global LLC now owns 52,767 shares of the basic materials company's stock valued at $4,021,000 after purchasing an additional 8,255 shares in the last quarter. AXA S.A. lifted its holdings in shares of Minerals Technologies by 4.5% during the fourth quarter. AXA S.A. now owns 26,688 shares of the basic materials company's stock valued at $2,034,000 after purchasing an additional 1,161 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of Minerals Technologies by 5.3% in the 4th quarter. AQR Capital Management LLC now owns 99,468 shares of the basic materials company's stock worth $7,580,000 after purchasing an additional 5,051 shares in the last quarter. Institutional investors own 97.29% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. 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. StockNews.com downgraded Minerals Technologies from a "buy" rating to a "hold" rating in a report on Wednesday, April 9th.

Minerals Technologies Stock Performance

Shares of MTX stock opened at $59.69 on Wednesday. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of 11.52 and a beta of 1.22. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.98 and a current ratio of 2.84. Minerals Technologies Inc. has a one year low of $49.54 and a one year high of $90.30. The company's 50-day moving average is $58.59 and its 200 day moving average is $69.92.

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

Minerals Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.44 annualized dividend and a yield of 0.74%. Minerals Technologies's dividend payout ratio is -57.14%.

Insider Buying and Selling at Minerals Technologies

In related news, CFO Erik Aldag bought 1,000 shares of the company's stock in a transaction that occurred on Wednesday, April 30th. The shares were bought at an average price of $50.37 per share, for a total transaction of $50,370.00. Following the completion of the acquisition, the chief financial officer now owns 4,245 shares of the company's stock, valued at $213,820.65. This trade represents a 30.82% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.30% of the company's stock.

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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