Dimensional Fund Advisors LP Sells 74,340 Shares of Minerals Technologies Inc. $MTX

Key Points

• Dimensional Fund Advisors LP reduced its holdings in Minerals Technologies Inc. by 3.3%, owning 2,154,997 shares worth approximately $137 million at the end of the recent quarter.
• Brokerages have recently upgraded the stock, with Truist Financial raising the target price from $80.00 to $84.00 and maintaining a "buy" rating.
• The company announced a quarterly dividend of $0.11 per share, reflecting an annualized yield of 0.7%, set to be paid on September 5th.

Dimensional Fund Advisors LP reduced its position in shares of Minerals Technologies Inc. (NYSE:MTX - Free Report) by 3.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,154,997 shares of the basic materials company's stock after selling 74,340 shares during the period. Dimensional Fund Advisors LP owned approximately 6.79% of Minerals Technologies worth $136,992,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in MTX. Nuveen LLC purchased a new position in shares of Minerals Technologies during the 1st quarter valued at $33,177,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Minerals Technologies during the 1st quarter valued at $4,429,000. Snyder Capital Management L P grew its position in shares of Minerals Technologies by 8.5% during the 4th quarter. Snyder Capital Management L P now owns 630,381 shares of the basic materials company's stock valued at $48,041,000 after purchasing an additional 49,376 shares in the last quarter. Northern Trust Corp grew its position in Minerals Technologies by 9.6% in the fourth quarter. Northern Trust Corp now owns 498,929 shares of the basic materials company's stock worth $38,023,000 after acquiring an additional 43,546 shares in the last quarter. Finally, Jefferies Financial Group Inc. purchased a new position in Minerals Technologies in the fourth quarter worth $3,078,000. 97.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on MTX shares. Truist Financial upped their target price on shares of Minerals Technologies from $80.00 to $84.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Wall Street Zen upgraded shares of Minerals Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $84.00.

Minerals Technologies Trading Up 2.0%

Minerals Technologies stock traded up $1.25 during mid-day trading on Wednesday, hitting $64.99. The company's stock had a trading volume of 181,054 shares, compared to its average volume of 210,266. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.95 and a quick ratio of 1.35. The stock has a market cap of $2.04 billion, a price-to-earnings ratio of 1,083.26 and a beta of 1.22. The business has a 50 day moving average price of $58.87 and a 200-day moving average price of $60.34. Minerals Technologies Inc. has a 12 month low of $49.54 and a 12 month high of $86.49.

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

Minerals Technologies Dividend Announcement

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

Minerals Technologies 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.