Great Lakes Advisors LLC Acquires New Shares in Minerals Technologies Inc. $MTX

Key Points

• Great Lakes Advisors acquired 54,580 Minerals Technologies shares valued at approximately $4.0 million, while institutional investors collectively own 97.29% of the company.
• Analyst sentiment is mixed, with one Buy, one Hold and one Sell rating; the consensus rating is Hold with an average price target of $90, compared with a recent share price of $70.41.
• Minerals Technologies reported quarterly EPS of $1.60, below the $1.64 consensus estimate, while revenue rose 3.7% year over year to $548.4 million. The company also declared a quarterly dividend of $0.12 per share, yielding about 0.7% annually.

Great Lakes Advisors LLC purchased a new stake in Minerals Technologies Inc. (NYSE:MTX - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 54,580 shares of the basic materials company's stock, valued at approximately $4,037,000. Great Lakes Advisors LLC owned approximately 0.18% of Minerals Technologies as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. purchased a new stake in Minerals Technologies in the 2nd quarter valued at approximately $361,721,000. SG Capital Management LLC boosted its stake in shares of Minerals Technologies by 137.1% during the fourth quarter. SG Capital Management LLC now owns 148,385 shares of the basic materials company's stock valued at $9,044,000 after acquiring an additional 548,385 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in Minerals Technologies during the 2nd quarter worth about $20,237,000. Caption Management LLC lifted its holdings in Minerals Technologies by 102.7% in the 4th quarter. Caption Management LLC now owns 5,375 shares of the basic materials company's stock valued at $328,000 after purchasing an additional 205,375 shares in the last quarter. Finally, Brandes Investment Partners LP lifted its holdings in Minerals Technologies by 22.9% in the 4th quarter. Brandes Investment Partners LP now owns 819,908 shares of the basic materials company's stock valued at $49,973,000 after purchasing an additional 152,950 shares in the last quarter. Institutional investors and hedge funds own 97.29% of the company's stock.

Wall Street Analyst Weigh In

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

Minerals Technologies Stock Performance

Shares of NYSE:MTX opened at $70.41 on Friday. The business has a 50-day moving average of $74.71 and a two-hundred day moving average of $73.44. The firm has a market capitalization of $2.19 billion, a PE ratio of -32.45 and a beta of 1.14. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.43 and a quick ratio of 1.00. Minerals Technologies Inc. has a 12 month low of $53.94 and a 12 month high of $84.34.

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

Minerals Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Friday, August 14th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Friday, August 14th. Minerals Technologies's payout ratio is -22.12%.

Minerals Technologies Profile

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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