Foundry Partners LLC Raises Position in Minerals Technologies Inc. (NYSE:MTX)

Foundry Partners LLC raised its stake in shares of Minerals Technologies Inc. (NYSE:MTX - Free Report) by 6.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 108,102 shares of the basic materials company's stock after purchasing an additional 6,610 shares during the quarter. Foundry Partners LLC owned approximately 0.34% of Minerals Technologies worth $6,872,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Jennison Associates LLC purchased a new position in shares of Minerals Technologies during the 1st quarter worth approximately $662,000. MQS Management LLC purchased a new stake in Minerals Technologies in the first quarter worth $455,000. Isthmus Partners LLC purchased a new stake in Minerals Technologies in the first quarter worth $1,279,000. Kesler Norman & Wride LLC grew its position in shares of Minerals Technologies by 27.0% in the 1st quarter. Kesler Norman & Wride LLC now owns 11,749 shares of the basic materials company's stock worth $747,000 after buying an additional 2,495 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in Minerals Technologies by 2.6% in the first quarter. Principal Financial Group Inc. now owns 171,008 shares of the basic materials company's stock worth $10,871,000 after purchasing an additional 4,361 shares during the period. 97.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MTX. Truist Financial cut their target price on Minerals Technologies from $92.00 to $80.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. Wall Street Zen downgraded shares of Minerals Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday, April 9th.

Insider Buying and Selling at Minerals Technologies

In other news, CFO Erik Aldag purchased 1,000 shares of the stock in a transaction on Wednesday, April 30th. The shares were acquired at an average price of $50.37 per share, with a total value of $50,370.00. Following the completion of the acquisition, the chief financial officer directly owned 4,245 shares of the company's stock, valued at $213,820.65. This trade represents a 30.82% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Kristina M. Johnson purchased 1,000 shares of the stock in a transaction on Friday, May 2nd. The shares were purchased at an average cost of $53.79 per share, for a total transaction of $53,790.00. Following the acquisition, the director directly owned 1,400 shares of the company's stock, valued at approximately $75,306. This represents a 250.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 2,370 shares of company stock worth $124,255 in the last quarter. Corporate insiders own 3.30% of the company's stock.

Minerals Technologies Stock Performance

Shares of Minerals Technologies stock traded down $0.50 during trading on Friday, hitting $57.01. 559,603 shares of the company's stock traded hands, compared to its average volume of 199,502. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.89 and a quick ratio of 1.31. Minerals Technologies Inc. has a 1 year low of $49.54 and a 1 year high of $90.30. The stock has a market capitalization of $1.81 billion, a P/E ratio of -74.04 and a beta of 1.20. The business has a 50-day simple moving average of $57.38 and a 200-day simple moving average of $63.17.

Minerals Technologies (NYSE:MTX - Get Free Report) last issued its earnings results 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). The company had revenue of $491.80 million during the quarter, compared to analysts' expectations of $502.03 million. Minerals Technologies had a positive return on equity of 10.90% and a negative net margin of 1.14%. The company's revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.49 EPS. 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. Stockholders of record on Friday, August 15th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.77%. The ex-dividend date is Friday, August 15th. Minerals Technologies's dividend payout ratio is presently -57.14%.

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.