D. E. Shaw & Co. Inc. Has $2.84 Million 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% in the fourth quarter, according to the company in its most recent filing with the SEC. 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.

A number of other hedge funds also recently modified their holdings of the stock. Dean Capital Management acquired a new stake in shares of Minerals Technologies during the 4th quarter worth about $2,744,000. EP Wealth Advisors LLC increased its position in Minerals Technologies by 12.1% during the fourth quarter. EP Wealth Advisors LLC now owns 3,907 shares of the basic materials company's stock worth $298,000 after acquiring an additional 421 shares during the period. Balyasny Asset Management L.P. increased its position in Minerals Technologies by 4.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 5,312 shares of the basic materials company's stock worth $405,000 after acquiring an additional 235 shares during the period. Bank of America Corp DE increased its position in 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 worth $33,135,000 after acquiring an additional 16,683 shares during the period. Finally, Algert Global LLC increased its position in Minerals Technologies by 18.5% during the fourth quarter. Algert Global LLC now owns 52,767 shares of the basic materials company's stock worth $4,021,000 after acquiring an additional 8,255 shares during the period. Institutional investors and hedge funds own 97.29% of the company's stock.

Insider Buying and Selling at Minerals Technologies

In related news, Director Kristina M. Johnson purchased 1,000 shares of Minerals Technologies stock in a transaction dated Friday, May 2nd. The shares were bought at an average cost of $53.79 per share, for a total transaction of $53,790.00. Following the purchase, the director now owns 1,400 shares in the company, valued at approximately $75,306. This trade represents a 250.00% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.30% of the company's stock.

Minerals Technologies Price Performance

MTX stock opened at $58.75 on Tuesday. 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 Inc. has a 12 month low of $49.54 and a 12 month high of $90.30. The firm has a market cap of $1.86 billion, a P/E ratio of 11.34 and a beta of 1.22. The company's 50-day moving average price is $58.72 and its two-hundred day moving average price is $70.00.

Minerals Technologies (NYSE:MTX - Get Free Report) last released its 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). Minerals Technologies had a net margin of 7.89% and a return on equity of 11.49%. The firm had revenue of $491.80 million during the quarter, compared to the consensus estimate of $502.03 million. During the same period in the prior year, the business earned $1.49 earnings per share. Minerals Technologies's quarterly revenue was down 8.0% compared to the same quarter last year. On average, analysts anticipate that Minerals Technologies Inc. will post 6.62 earnings per share for the current fiscal year.

Minerals Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 30th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.75%. The ex-dividend date is Friday, May 30th. Minerals Technologies's dividend payout ratio is currently -57.14%.

Wall Street Analysts Forecast Growth

MTX has been the topic of a number of recent research reports. StockNews.com lowered shares of Minerals Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday, April 9th. Truist Financial lowered their price target 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.

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.

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