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. lifted its holdings in shares of Minerals Technologies Inc. (NYSE:MTX - Free Report) by 104.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,508 shares of the basic materials company's stock after purchasing 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.

Other institutional investors and hedge funds have also bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Minerals Technologies during the 1st quarter worth about $4,429,000. Invesco Ltd. lifted its stake in shares of Minerals Technologies by 36.8% in the fourth quarter. Invesco Ltd. now owns 256,211 shares of the basic materials company's stock worth $19,526,000 after acquiring an additional 68,873 shares during the period. Snyder Capital Management L P boosted its holdings in Minerals Technologies by 8.5% in the fourth quarter. Snyder Capital Management L P now owns 630,381 shares of the basic materials company's stock valued at $48,041,000 after acquiring an additional 49,376 shares during the last quarter. Northern Trust Corp increased its position in Minerals Technologies by 9.6% during the 4th quarter. Northern Trust Corp now owns 498,929 shares of the basic materials company's stock valued at $38,023,000 after purchasing an additional 43,546 shares during the period. Finally, Jefferies Financial Group Inc. bought a new position in Minerals Technologies during the 4th quarter worth approximately $3,078,000. 97.29% of the stock is currently owned by institutional investors and hedge funds.

Minerals Technologies Stock Down 0.4%

NYSE MTX traded down $0.2510 on Thursday, hitting $60.3890. 11,210 shares of the company were exchanged, compared to its average volume of 238,876. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.57. The company has a market cap of $1.90 billion, a PE ratio of 1,004.50 and a beta of 1.22. The stock has a fifty day moving average of $57.97 and a 200-day moving average of $60.75. Minerals Technologies Inc. has a 12 month low of $49.54 and a 12 month high of $86.49.

Minerals Technologies (NYSE:MTX - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.12. The firm had revenue of $528.90 million during the quarter, compared to the consensus estimate of $529.13 million. Minerals Technologies had a net margin of 0.10% and a return on equity of 10.64%. The business's revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.65 earnings per share. As a group, analysts forecast 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. This represents a $0.44 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Friday, August 15th. Minerals Technologies's dividend payout ratio is 733.33%.

Wall Street Analysts Forecast Growth

MTX has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of Minerals Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Truist Financial boosted their target price on shares of Minerals Technologies from $80.00 to $84.00 and gave the company a "buy" rating in a report on Monday, July 28th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and an average 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.