Deutsche Bank AG decreased its position in Minerals Technologies Inc. (NYSE:MTX - Free Report) by 46.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,475 shares of the basic materials company's stock after selling 24,545 shares during the quarter. Deutsche Bank AG owned 0.09% of Minerals Technologies worth $2,170,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC grew its holdings in Minerals Technologies by 42.7% during the 4th quarter. FMR LLC now owns 1,761,925 shares of the basic materials company's stock worth $134,276,000 after acquiring an additional 527,206 shares in the last quarter. Norges Bank purchased a new stake in shares of Minerals Technologies during the 4th quarter worth $16,360,000. American Century Companies Inc. grew its stake in shares of Minerals Technologies by 31.1% during the fourth quarter. American Century Companies Inc. now owns 861,173 shares of the basic materials company's stock worth $65,630,000 after purchasing an additional 204,371 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Minerals Technologies in the fourth quarter valued at $10,797,000. Finally, Foundry Partners LLC purchased a new position in Minerals Technologies in the fourth quarter valued at $7,735,000. Institutional investors and hedge funds own 97.29% of the company's stock.
Insider Buying and Selling at Minerals Technologies
In other Minerals Technologies news, Director Kristina M. Johnson acquired 1,000 shares of the stock in a transaction on Friday, May 2nd. The shares were bought at an average cost of $53.79 per share, with a total value of $53,790.00. Following the transaction, the director now owns 1,400 shares of the company's stock, valued at approximately $75,306. This trade represents a 250.00% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.30% of the stock is owned by company insiders.
Minerals Technologies Stock Up 3.7%
Shares of NYSE MTX traded up $2.15 during mid-day trading on Tuesday, reaching $60.29. The company had a trading volume of 82,646 shares, compared to its average volume of 187,070. The firm has a 50 day simple moving average of $57.83 and a two-hundred day simple moving average of $69.24. Minerals Technologies Inc. has a 52-week low of $49.54 and a 52-week high of $90.30. The company has a current ratio of 2.84, a quick ratio of 1.98 and a debt-to-equity ratio of 0.54. The stock has a market cap of $1.91 billion, a P/E ratio of 11.63 and a beta of 1.22.
Minerals Technologies (NYSE:MTX - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The basic materials company reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.02). Minerals Technologies had a return on equity of 11.49% and a net margin of 7.89%. The firm had revenue of $491.80 million for the quarter, compared to analysts' expectations of $502.03 million. During the same period in the previous year, the business posted $1.49 EPS. The business's revenue for the quarter was down 8.0% compared to the same quarter last year. Sell-side analysts predict 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 Thursday, June 12th. Shareholders of record on Friday, May 30th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.73%. The ex-dividend date is Friday, May 30th. Minerals Technologies's dividend payout ratio (DPR) is -57.14%.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on MTX. Truist Financial lowered their price objective on Minerals Technologies from $92.00 to $80.00 and set a "buy" rating for the company in a research report on Monday, April 28th. Wall Street Zen downgraded Minerals Technologies from a "buy" rating to a "hold" rating in a report on Wednesday, April 9th.
Get Our Latest Stock Analysis on MTX
Minerals Technologies Profile
(
Free Report)
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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