Dean Capital Management Has $1.54 Million Holdings in Minerals Technologies Inc. $MTX

Key Points

• Dean Capital Management reduced its stake in Minerals Technologies Inc. by 32.7%, selling 11,773 shares and holding 24,227 shares valued at $1.54 million after the sale.
• Multiple hedge funds have altered their positions in the company, with QRG Capital Management increasing its holdings by 7.3% and GAMMA Investing LLC boosting its stake by an astonishing 15,381.2%.
• Minerals Technologies recently reported earnings of $1.55 per share, beating analyst expectations, although revenue decreased 2.3% year-over-year, totaling $528.90 million.

Dean Capital Management trimmed its stake in Minerals Technologies Inc. (NYSE:MTX - Free Report) by 32.7% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 24,227 shares of the basic materials company's stock after selling 11,773 shares during the quarter. Dean Capital Management owned approximately 0.08% of Minerals Technologies worth $1,540,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. American Century Companies Inc. lifted its stake in Minerals Technologies by 24.0% in the first quarter. American Century Companies Inc. now owns 1,068,079 shares of the basic materials company's stock valued at $67,898,000 after buying an additional 206,906 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Minerals Technologies by 6.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 543,547 shares of the basic materials company's stock valued at $33,879,000 after buying an additional 32,342 shares during the last quarter. Nuveen LLC bought a new stake in Minerals Technologies in the first quarter valued at $33,177,000. Bank of America Corp DE lifted its stake in Minerals Technologies by 4.0% in the fourth quarter. Bank of America Corp DE now owns 434,789 shares of the basic materials company's stock valued at $33,135,000 after buying an additional 16,683 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Minerals Technologies by 7.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 393,285 shares of the basic materials company's stock valued at $25,001,000 after buying an additional 28,877 shares during the last quarter. 97.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on MTX shares. Truist Financial raised their target price on Minerals Technologies from $80.00 to $84.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Wall Street Zen raised Minerals Technologies from a "buy" rating to a "strong-buy" rating in a report on Friday, September 5th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $84.00.

Minerals Technologies Price Performance

NYSE:MTX traded up $2.09 during mid-day trading on Thursday, reaching $65.12. 221,944 shares of the stock were exchanged, compared to its average volume of 217,130. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.57. Minerals Technologies Inc. has a 1-year low of $49.54 and a 1-year high of $86.49. The firm has a market capitalization of $2.04 billion, a PE ratio of 1,085.43 and a beta of 1.22. The business has a fifty day moving average price of $60.77 and a 200 day moving average price of $59.78.

Minerals Technologies (NYSE:MTX - Get Free Report) last released its quarterly 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. Minerals Technologies had a return on equity of 10.64% and a net margin of 0.10%.The business had revenue of $528.90 million during the quarter, compared to analyst estimates of $529.13 million. During the same quarter last year, the company posted $1.65 EPS. Minerals Technologies's revenue for the quarter was down 2.3% on a year-over-year basis. Research analysts expect that Minerals Technologies Inc. will post 6.62 earnings per share for the current fiscal year.

Minerals Technologies Announces Dividend

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