Graham Capital Management L.P. Has $1.23 Million Stock Position in Minerals Technologies Inc. $MTX

Key Points

• Graham Capital Management L.P. increased its stake in Minerals Technologies Inc. by 35.2% in Q1, owning 19,402 shares valued at approximately $1.23 million.
• Minerals Technologies reported earnings per share of $1.55 for the last quarter, beating estimates, while its revenue fell by 2.3% year-over-year.
• The firm announced a quarterly dividend of $0.11, representing an annualized dividend yield of 0.7%, with a high dividend payout ratio of 733.33%.

Graham Capital Management L.P. raised its position in Minerals Technologies Inc. (NYSE:MTX - Free Report) by 35.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,402 shares of the basic materials company's stock after purchasing an additional 5,056 shares during the quarter. Graham Capital Management L.P. owned 0.06% of Minerals Technologies worth $1,233,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of MTX. Quarry LP increased its position in Minerals Technologies by 105.3% during the first quarter. Quarry LP now owns 1,503 shares of the basic materials company's stock worth $96,000 after acquiring an additional 771 shares during the period. Panagora Asset Management Inc. increased its holdings in Minerals Technologies by 0.3% in the first quarter. Panagora Asset Management Inc. now owns 217,430 shares of the basic materials company's stock valued at $13,822,000 after purchasing an additional 557 shares during the last quarter. State of Wyoming raised its position in Minerals Technologies by 11.5% in the 1st quarter. State of Wyoming now owns 2,684 shares of the basic materials company's stock valued at $171,000 after buying an additional 277 shares during the last quarter. Trexquant Investment LP raised its position in Minerals Technologies by 29.7% in the 1st quarter. Trexquant Investment LP now owns 56,500 shares of the basic materials company's stock valued at $3,592,000 after buying an additional 12,945 shares during the last quarter. Finally, Gamco Investors INC. ET AL boosted its holdings in shares of Minerals Technologies by 0.8% in the 1st quarter. Gamco Investors INC. ET AL now owns 240,100 shares of the basic materials company's stock valued at $15,263,000 after buying an additional 1,800 shares during the last quarter. 97.29% of the stock is owned by institutional investors and hedge funds.

Minerals Technologies Price Performance

Minerals Technologies stock traded down $0.11 during midday trading on Monday, reaching $64.00. The company had a trading volume of 116,245 shares, compared to its average volume of 238,009. The company has a market capitalization of $2.01 billion, a P/E ratio of 1,064.94 and a beta of 1.22. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.95 and a quick ratio of 1.35. Minerals Technologies Inc. has a 12-month low of $49.54 and a 12-month high of $86.49. The firm's fifty day simple moving average is $60.28 and its 200-day simple moving average is $59.80.

Minerals Technologies (NYSE:MTX - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.43 by $0.12. The company had revenue of $528.90 million during the quarter, compared to analysts' expectations 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 was down 2.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.65 EPS. As a group, equities analysts anticipate that Minerals Technologies Inc. will post 6.62 EPS for the current year.

Minerals Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 15th were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 15th. Minerals Technologies's dividend payout ratio (DPR) is 733.33%.

Analysts Set New Price Targets

MTX has been the subject of several recent analyst reports. Wall Street Zen upgraded Minerals Technologies from a "buy" rating to a "strong-buy" rating in a research report on Friday. Truist Financial upped their price objective on Minerals Technologies from $80.00 to $84.00 and gave the stock a "buy" rating in a report on Monday, July 28th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $84.00.

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.