Great Lakes Advisors LLC Sells 5,041 Shares of 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 trimmed its stake in shares of Minerals Technologies Inc. (NYSE:MTX - Free Report) by 9.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 50,512 shares of the basic materials company's stock after selling 5,041 shares during the quarter. Great Lakes Advisors LLC owned 0.16% of Minerals Technologies worth $3,211,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in MTX. Quarry LP grew its holdings in Minerals Technologies by 105.3% during the 1st quarter. Quarry LP now owns 1,503 shares of the basic materials company's stock valued at $96,000 after buying an additional 771 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Minerals Technologies in the first quarter valued at approximately $124,000. State of Wyoming grew its stake in Minerals Technologies by 11.5% during the first quarter. State of Wyoming now owns 2,684 shares of the basic materials company's stock valued at $171,000 after acquiring an additional 277 shares in the last quarter. PharVision Advisers LLC bought a new stake in Minerals Technologies during the 4th quarter worth approximately $236,000. Finally, EP Wealth Advisors LLC increased its holdings in Minerals Technologies by 12.0% during the 1st quarter. EP Wealth Advisors LLC now owns 4,377 shares of the basic materials company's stock worth $278,000 after acquiring an additional 470 shares during the period. Hedge funds and other institutional investors own 97.29% of the company's stock.

Minerals Technologies Price Performance

NYSE MTX traded down $1.28 on Friday, reaching $63.72. 166,711 shares of the company's stock traded hands, compared to its average volume of 216,688. The stock has a market cap of $2.00 billion, a PE ratio of 1,062.11 and a beta of 1.22. Minerals Technologies Inc. has a 12 month low of $49.54 and a 12 month high of $86.49. The stock has a 50-day simple moving average of $60.87 and a 200 day simple moving average of $59.66. 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 (NYSE:MTX - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.43 by $0.12. Minerals Technologies had a net margin of 0.10% and a return on equity of 10.64%. The company had revenue of $528.90 million during the quarter, compared to analysts' expectations of $529.13 million. During the same quarter in the prior year, the company earned $1.65 EPS. The firm's revenue was down 2.3% on a year-over-year basis. As a group, research analysts predict that Minerals Technologies Inc. will post 6.62 earnings per share for the current year.

Minerals Technologies Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages have commented on MTX. Wall Street Zen downgraded shares of Minerals Technologies from a "strong-buy" rating to a "buy" rating in a report on Saturday. Truist Financial lifted their price objective on Minerals Technologies from $80.00 to $84.00 and gave the company a "buy" rating in a research note on Monday, July 28th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $84.00.

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.