D. E. Shaw & Co. Inc. Decreases Stock Holdings in Minerals Technologies Inc. (NYSE:MTX)

D. E. Shaw & Co. Inc. lessened its stake in shares of Minerals Technologies Inc. (NYSE:MTX - Free Report) by 22.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 37,282 shares of the basic materials company's stock after selling 10,609 shares during the quarter. D. E. Shaw & Co. Inc. owned about 0.12% of Minerals Technologies worth $2,841,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its stake in shares of Minerals Technologies by 2.7% in the 4th 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 during the period. Y Intercept Hong Kong Ltd lifted its holdings in shares of Minerals Technologies by 74.4% in 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 buying an additional 7,364 shares in the last quarter. M&T Bank Corp increased its position in Minerals Technologies by 13.2% in 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 during the last quarter. KBC Group NV increased its position in Minerals Technologies by 43.9% in 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 during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in Minerals Technologies by 1.5% in 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 during the last quarter. Institutional investors own 97.29% of the company's stock.

Insider Activity

In other Minerals Technologies news, Director Kristina M. Johnson purchased 1,000 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The shares were bought at an average price of $53.79 per share, for a total transaction of $53,790.00. Following the acquisition, the director now owns 1,400 shares in the company, valued at $75,306. This represents a 250.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 3.30% of the company's stock.

Minerals Technologies Stock Down 0.8%

NYSE:MTX traded down $0.49 during mid-day trading on Friday, reaching $58.28. The company's stock had a trading volume of 263,928 shares, compared to its average volume of 187,465. The firm has a market capitalization of $1.85 billion, a PE ratio of 11.25 and a beta of 1.22. The stock has a fifty day moving average of $58.02 and a 200-day moving average of $69.41. Minerals Technologies Inc. has a 1 year low of $49.54 and a 1 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 released its quarterly 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). 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 business's quarterly revenue was down 8.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.49 earnings per share. Equities research 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 disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.11 per share. The ex-dividend date is Friday, May 30th. This represents a $0.44 annualized dividend and a dividend yield of 0.75%. Minerals Technologies's dividend payout ratio (DPR) is currently -57.14%.

Analysts Set New Price Targets

A number of research firms have weighed in on MTX. Truist Financial cut their price objective on shares of Minerals Technologies from $92.00 to $80.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Wall Street Zen lowered shares of Minerals Technologies from a "buy" rating to a "hold" rating in a research note on Wednesday, April 9th.

About Minerals Technologies

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.