CW Advisors LLC Invests $681,000 in Minerals Technologies Inc. $MTX

Key Points

• CW Advisors LLC has acquired a stake in Minerals Technologies Inc., purchasing 10,716 shares valued at approximately $681,000.
• Minerals Technologies declared a quarterly dividend of $0.11 per share, which will be paid to shareholders on September 5th, representing an annualized yield of 0.7%.
• Analysts have increased their price target for Minerals Technologies, with Truist Financial raising it from $80.00 to $84.00 and maintaining a "buy" rating.

CW Advisors LLC acquired a new stake in Minerals Technologies Inc. (NYSE:MTX - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 10,716 shares of the basic materials company's stock, valued at approximately $681,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MTX. Aufman Associates Inc raised its holdings in Minerals Technologies by 2.8% in the 1st quarter. Aufman Associates Inc now owns 37,004 shares of the basic materials company's stock valued at $2,352,000 after acquiring an additional 1,007 shares in the last quarter. Hsbc Holdings PLC raised its holdings in Minerals Technologies by 9.2% in the 1st quarter. Hsbc Holdings PLC now owns 5,116 shares of the basic materials company's stock valued at $325,000 after acquiring an additional 431 shares in the last quarter. Quantbot Technologies LP acquired a new position in Minerals Technologies in the 1st quarter valued at $124,000. American Century Companies Inc. raised its holdings in Minerals Technologies by 24.0% in the 1st quarter. American Century Companies Inc. now owns 1,068,079 shares of the basic materials company's stock valued at $67,898,000 after acquiring an additional 206,906 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in Minerals Technologies by 3.0% in the 1st quarter. Russell Investments Group Ltd. now owns 39,992 shares of the basic materials company's stock valued at $2,542,000 after acquiring an additional 1,166 shares in the last quarter. 97.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MTX has been the subject of several analyst reports. Truist Financial lifted their price objective on Minerals Technologies from $80.00 to $84.00 and gave the company a "buy" rating in a report on Monday, July 28th. Wall Street Zen raised Minerals Technologies from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Minerals Technologies presently has a consensus rating of "Buy" and a consensus price target of $84.00.

Minerals Technologies Price Performance

Shares of MTX stock traded up $0.30 during trading hours on Monday, reaching $65.45. The company's stock had a trading volume of 297,008 shares, compared to its average volume of 204,600. The firm's 50 day simple moving average is $59.56 and its 200-day simple moving average is $60.01. The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of 1,090.95 and a beta of 1.22. Minerals Technologies Inc. has a fifty-two week low of $49.54 and a fifty-two week high of $86.49. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.57.

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

Minerals Technologies Dividend Announcement

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

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.