Great Lakes Advisors LLC Has $3.21 Million Holdings in Minerals Technologies Inc. $MTX

Key Points

• Great Lakes Advisors LLC has reduced its holdings in Minerals Technologies Inc. by 9.1% in the first quarter, now owning approximately 50,512 shares valued at $3,211,000.
• Several institutional investors, including Quarry LP and PharVision Advisers LLC, have recently increased or acquired their stakes in Minerals Technologies, indicating growing interest from hedge funds.
• Analysts have raised the price target for Minerals Technologies from $80.00 to $84.00, with most ratings reflecting a "buy" or "strong-buy" stance on the stock.

Great Lakes Advisors LLC lowered its stake in Minerals Technologies Inc. (NYSE:MTX - Free Report) by 9.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 50,512 shares of the basic materials company's stock after selling 5,041 shares during the period. Great Lakes Advisors LLC owned 0.16% of Minerals Technologies worth $3,211,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quarry LP increased its position in shares of Minerals Technologies by 105.3% in the 1st quarter. Quarry LP now owns 1,503 shares of the basic materials company's stock worth $96,000 after purchasing an additional 771 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Minerals Technologies in the 1st quarter worth about $124,000. State of Wyoming increased its position in shares of Minerals Technologies by 11.5% in the 1st quarter. State of Wyoming now owns 2,684 shares of the basic materials company's stock worth $171,000 after purchasing an additional 277 shares during the last quarter. PharVision Advisers LLC bought a new stake in shares of Minerals Technologies in the 4th quarter worth about $236,000. Finally, Mackenzie Financial Corp bought a new stake in shares of Minerals Technologies during the 4th quarter valued at about $298,000. Institutional investors own 97.29% of the company's stock.

Minerals Technologies Price Performance

MTX stock traded down $0.36 on Tuesday, hitting $62.83. 22,508 shares of the company's stock traded hands, compared to its average volume of 237,522. Minerals Technologies Inc. has a 1-year low of $49.54 and a 1-year high of $86.49. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 1,047.36 and a beta of 1.22. The stock has a fifty day moving average of $60.97 and a 200-day moving average of $59.56. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.57.

Minerals Technologies (NYSE:MTX - Get Free Report) last released its 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. Minerals Technologies had a net margin of 0.10% and a return on equity of 10.64%. The business had revenue of $528.90 million during the quarter, compared to analyst estimates of $529.13 million. During the same period in the prior year, the business earned $1.65 earnings per share. The business's quarterly revenue was down 2.3% on a year-over-year basis. On average, analysts forecast that Minerals Technologies Inc. will post 6.62 EPS for the current fiscal year.

Minerals Technologies Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MTX. Wall Street Zen downgraded shares of Minerals Technologies from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Truist Financial boosted their price objective on shares of Minerals Technologies from $80.00 to $84.00 and gave the company a "buy" rating in a research report on Monday, July 28th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average 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.