Connor Clark & Lunn Investment Management Ltd. Has $1.75 Million Position in Minerals Technologies Inc. $MTX

Key Points

• Connor Clark & Lunn Investment Management Ltd. significantly increased its stake in Minerals Technologies Inc. by 104.7% during the first quarter, now owning about 0.09% of the company worth $1,749,000.
• Minerals Technologies reported earnings of $1.55 per share for the last quarter, surpassing analysts' expectations of $1.43, despite a 2.3% decline in revenue compared to the same quarter last year.
• The company declared a dividend of $0.11 per share, with a payout ratio of 733.33%, reflecting strong institutional investor interest, as they own approximately 97.29% of its stock.

Connor Clark & Lunn Investment Management Ltd. grew its position in Minerals Technologies Inc. (NYSE:MTX - Free Report) by 104.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 27,508 shares of the basic materials company's stock after acquiring an additional 14,068 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.09% of Minerals Technologies worth $1,749,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Balyasny Asset Management L.P. lifted its stake in shares of Minerals Technologies by 4.6% in 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 last quarter. Bank of Montreal Can lifted its stake in shares of Minerals Technologies by 4.5% in the 4th quarter. Bank of Montreal Can now owns 7,309 shares of the basic materials company's stock valued at $557,000 after acquiring an additional 312 shares during the last quarter. EP Wealth Advisors LLC raised its position in 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 worth $298,000 after purchasing an additional 421 shares during the last quarter. QRG Capital Management Inc. raised its position in Minerals Technologies by 7.3% during the 1st quarter. QRG Capital Management Inc. now owns 6,955 shares of the basic materials company's stock worth $442,000 after purchasing an additional 474 shares during the last quarter. Finally, Quarry LP raised its position in Minerals Technologies by 536.5% during the 4th 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. 97.29% of the stock is currently owned by institutional investors.

Minerals Technologies Trading Up 0.5%

Minerals Technologies stock traded up $0.3010 during trading hours on Thursday, reaching $60.9410. 120,264 shares of the company's stock were exchanged, compared to its average volume of 265,450. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.57. The firm's 50 day simple moving average is $58.07 and its 200 day simple moving average is $60.66. Minerals Technologies Inc. has a twelve month low of $49.54 and a twelve month high of $86.49. The firm has a market capitalization of $1.91 billion, a PE ratio of 1,015.85 and a beta of 1.22.

Minerals Technologies (NYSE:MTX - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.55 earnings per share for the quarter, topping 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 firm had revenue of $528.90 million during the quarter, compared to the consensus estimate of $529.13 million. During the same period last year, the business posted $1.65 EPS. The business's revenue was down 2.3% compared to the same quarter last year. Research analysts predict that Minerals Technologies Inc. will post 6.62 earnings per share for the current year.

Minerals Technologies Dividend Announcement

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

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Wall Street Zen raised Minerals Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Truist Financial raised their target price on Minerals Technologies from $80.00 to $84.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $84.00.

Minerals Technologies 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.