Minerals Technologies Inc. $MTX Shares Purchased by Graham Capital Management L.P.

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

Several other hedge funds have also recently modified their holdings of the stock. Balyasny Asset Management L.P. increased its holdings in Minerals Technologies by 4.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 5,312 shares of the basic materials company's stock worth $405,000 after buying an additional 235 shares during the period. State of Wyoming raised its stake 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 purchasing an additional 277 shares during the last quarter. EP Wealth Advisors LLC increased its stake in shares of Minerals Technologies by 12.1% in the 4th quarter. EP Wealth Advisors LLC now owns 3,907 shares of the basic materials company's stock worth $298,000 after acquiring an additional 421 shares during the last quarter. Hsbc Holdings PLC increased its position in shares of Minerals Technologies by 9.2% during the 1st quarter. Hsbc Holdings PLC now owns 5,116 shares of the basic materials company's stock worth $325,000 after purchasing an additional 431 shares during the last quarter. Finally, QRG Capital Management Inc. boosted its holdings in Minerals Technologies by 7.3% during the 1st quarter. QRG Capital Management Inc. now owns 6,955 shares of the basic materials company's stock valued at $442,000 after acquiring an additional 474 shares during the period. Institutional investors and hedge funds own 97.29% of the company's stock.

Minerals Technologies Price Performance

MTX traded down $1.72 during trading on Tuesday, reaching $62.45. 44,580 shares of the stock were exchanged, compared to its average volume of 238,093. 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 1 year low of $49.54 and a 1 year high of $86.49. The business's 50 day moving average price is $60.46 and its two-hundred day moving average price is $59.76. The company has a market capitalization of $1.96 billion, a price-to-earnings ratio of 1,040.59 and a beta of 1.22.

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

Minerals Technologies Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on MTX shares. Wall Street Zen raised Minerals Technologies from a "buy" rating to a "strong-buy" rating in a research report on Friday. Truist Financial raised their target price on Minerals Technologies from $80.00 to $84.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, Minerals Technologies has a consensus rating of "Buy" and a consensus target price 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.