GAMMA Investing LLC Has $837,000 Position in Minerals Technologies Inc. (NYSE:MTX)

GAMMA Investing LLC raised its position in shares of Minerals Technologies Inc. (NYSE:MTX - Free Report) by 15,381.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,159 shares of the basic materials company's stock after purchasing an additional 13,074 shares during the quarter. GAMMA Investing LLC's holdings in Minerals Technologies were worth $837,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. FMR LLC raised its stake 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 valued at $134,276,000 after purchasing an additional 527,206 shares during the period. Geode Capital Management LLC raised its stake in Minerals Technologies by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 873,123 shares of the basic materials company's stock valued at $66,554,000 after purchasing an additional 7,780 shares during the period. American Century Companies Inc. raised its stake in Minerals Technologies by 31.1% during the 4th quarter. American Century Companies Inc. now owns 861,173 shares of the basic materials company's stock valued at $65,630,000 after purchasing an additional 204,371 shares during the period. Snyder Capital Management L P raised its stake in 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 during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Minerals Technologies by 0.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 555,157 shares of the basic materials company's stock valued at $42,309,000 after purchasing an additional 2,647 shares during the period. 97.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MTX has been the topic of a number of research reports. Truist Financial dropped their price target on shares of 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 note on Wednesday, April 9th.

Insider Buying and Selling

In other Minerals Technologies news, Director Kristina M. Johnson acquired 1,000 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The stock was purchased at an average cost of $53.79 per share, for a total transaction of $53,790.00. Following the completion of the acquisition, 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 can be accessed through the SEC website. Over the last three months, insiders acquired 2,370 shares of company stock worth $124,255. Corporate insiders own 3.50% of the company's stock.

Minerals Technologies Trading Down 1.0%

NYSE MTX opened at $54.04 on Wednesday. Minerals Technologies Inc. has a 1-year low of $49.54 and a 1-year high of $90.30. The company has a current ratio of 1.89, a quick ratio of 1.31 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $1.71 billion, a PE ratio of -70.18 and a beta of 1.22. The firm's fifty day simple moving average is $56.52 and its 200-day simple moving average is $66.61.

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 analysts' consensus estimates of $1.16 by ($0.02). The business had revenue of $491.80 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.49 earnings per share. As a group, sell-side analysts anticipate that Minerals Technologies Inc. will post 6.62 earnings per share for the current fiscal year.

Minerals Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 30th were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date was Friday, May 30th. Minerals Technologies's dividend payout ratio is presently -57.14%.

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.

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