Empowered Funds LLC Has $204,000 Holdings in Minerals Technologies Inc. $MTX

Key Points

• Empowered Funds LLC cut its Minerals Technologies stake by 84% in the first quarter, leaving it with 2,872 shares valued at approximately $204,000. Institutional investors collectively own 97.29% of MTX.
• Minerals Technologies reported quarterly revenue of $548.4 million and EPS of $1.60, both below analyst expectations, although revenue increased 3.7% year over year. Analysts expect full-year EPS of $6.03.
• MTX pays a quarterly dividend of $0.12, equivalent to a $0.48 annualized payout and a 0.7% yield. Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $90 versus the recent share price of $72.89.

Empowered Funds LLC decreased its holdings in shares of Minerals Technologies Inc. (NYSE:MTX - Free Report) by 84.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,872 shares of the basic materials company's stock after selling 15,110 shares during the quarter. Empowered Funds LLC's holdings in Minerals Technologies were worth $204,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in MTX. Quantinno Capital Management LP increased its stake in shares of Minerals Technologies by 14.2% during the 1st quarter. Quantinno Capital Management LP now owns 17,295 shares of the basic materials company's stock worth $1,227,000 after purchasing an additional 2,157 shares during the last quarter. Dean Capital Management grew its holdings in Minerals Technologies by 74.4% during the first quarter. Dean Capital Management now owns 26,842 shares of the basic materials company's stock worth $1,904,000 after purchasing an additional 11,447 shares during the period. Gabelli Funds LLC grew its holdings in Minerals Technologies by 4.4% during the first quarter. Gabelli Funds LLC now owns 97,215 shares of the basic materials company's stock worth $6,894,000 after purchasing an additional 4,064 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Minerals Technologies by 212.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 125,558 shares of the basic materials company's stock worth $8,905,000 after buying an additional 85,316 shares during the last quarter. Finally, Sei Investments Co. increased its position in Minerals Technologies by 39.9% during the first quarter. Sei Investments Co. now owns 40,049 shares of the basic materials company's stock worth $2,840,000 after buying an additional 11,427 shares during the last quarter. Institutional investors own 97.29% of the company's stock.

Minerals Technologies Stock Performance

Shares of MTX stock opened at $72.89 on Friday. The firm has a 50 day moving average of $75.11 and a 200-day moving average of $73.26. Minerals Technologies Inc. has a 52 week low of $53.94 and a 52 week high of $84.34. The company has a market cap of $2.27 billion, a price-to-earnings ratio of -33.59 and a beta of 1.14. The company has a quick ratio of 1.00, a current ratio of 1.43 and a debt-to-equity ratio of 0.60.

Minerals Technologies (NYSE:MTX - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The basic materials company reported $1.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.64 by ($0.04). The business had revenue of $548.40 million during the quarter, compared to analyst estimates of $558.77 million. Minerals Technologies had a negative net margin of 3.13% and a positive return on equity of 10.63%. The business's revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.55 EPS. On average, equities analysts forecast that Minerals Technologies Inc. will post 6.03 earnings per share for the current year.

Minerals Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Friday, August 14th will be paid a $0.12 dividend. The ex-dividend date is Friday, August 14th. This represents a $0.48 annualized dividend and a yield of 0.7%. Minerals Technologies's dividend payout ratio (DPR) is currently -22.12%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on MTX shares. Seaport Research Partners restated a "buy" rating on shares of Minerals Technologies in a research note on Monday, May 4th. Truist Financial upped their price target on shares of Minerals Technologies from $89.00 to $90.00 and gave the company a "buy" rating in a research note on Monday, May 4th. Weiss Ratings lowered shares of Minerals Technologies from a "hold (c+)" rating to a "sell (d+)" rating in a research report on Monday, August 3rd. Finally, Wall Street Zen cut shares of Minerals Technologies from a "strong-buy" rating to a "hold" rating in a research note on Saturday, August 8th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $90.00.

About Minerals Technologies

Minerals Technologies Inc develops, produces and processes a broad range of mineral-based products and solutions that serve a variety of industrial applications. Its offerings include bentonite, perlite, precipitated calcium carbonate (PCC), mineral sands, foundry additives, performance minerals and specialty chemicals designed to enhance performance in markets such as paper, steel, construction, oil and gas, environmental remediation and consumer products.

The company operates through several business segments, including Specialty Minerals, Refractory Minerals, Performance Materials and Recycled Materials.

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