GW&K Investment Management LLC Sells 126,586 Shares of Minerals Technologies Inc. $MTX

Key Points

• GW&K Investment Management cut its Minerals Technologies stake by 27.9% in the fourth quarter, selling 126,586 shares and leaving it with 327,550 shares worth about $20 million.
• The company’s recent quarterly results beat expectations, with EPS of $1.38 versus $1.26 expected and revenue of $546.9 million, up 11.2% year over year.
• Insiders and analysts remain mixed: VP Timothy Jordan sold 6,000 shares, while the stock has a consensus analyst rating of Hold with a $90 target price.

GW&K Investment Management LLC trimmed its holdings in shares of Minerals Technologies Inc. (NYSE:MTX - Free Report) by 27.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 327,550 shares of the basic materials company's stock after selling 126,586 shares during the period. GW&K Investment Management LLC owned approximately 1.05% of Minerals Technologies worth $19,965,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Brandes Investment Partners LP lifted its holdings in shares of Minerals Technologies by 22.9% during the 4th quarter. Brandes Investment Partners LP now owns 819,908 shares of the basic materials company's stock worth $49,973,000 after acquiring an additional 152,950 shares during the period. LPL Financial LLC lifted its holdings in Minerals Technologies by 5.1% during the 4th quarter. LPL Financial LLC now owns 10,196 shares of the basic materials company's stock valued at $621,000 after purchasing an additional 495 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Minerals Technologies by 3.6% during the 4th quarter. Franklin Resources Inc. now owns 47,669 shares of the basic materials company's stock valued at $2,905,000 after purchasing an additional 1,671 shares during the last quarter. State of Wyoming lifted its holdings in Minerals Technologies by 214.0% during the 4th quarter. State of Wyoming now owns 6,284 shares of the basic materials company's stock valued at $383,000 after purchasing an additional 4,283 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Minerals Technologies by 46.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 310,604 shares of the basic materials company's stock valued at $18,931,000 after purchasing an additional 97,866 shares during the last quarter. 97.29% of the stock is owned by institutional investors.

Insider Activity at Minerals Technologies

In other news, VP Timothy Jordan sold 6,000 shares of Minerals Technologies stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $80.27, for a total transaction of $481,620.00. Following the completion of the sale, the vice president owned 1,279 shares in the company, valued at $102,665.33. The trade was a 82.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.70% of the stock is currently owned by corporate insiders.

Minerals Technologies Trading Down 0.3%

MTX opened at $76.32 on Thursday. The company has a current ratio of 2.13, a quick ratio of 1.47 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $2.37 billion, a PE ratio of 14.76 and a beta of 1.13. Minerals Technologies Inc. has a 1-year low of $53.10 and a 1-year high of $84.34. The firm has a 50-day moving average price of $74.72 and a two-hundred day moving average price of $69.09.

Minerals Technologies (NYSE:MTX - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The basic materials company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.12. Minerals Technologies had a net margin of 7.60% and a return on equity of 10.40%. The firm had revenue of $546.90 million during the quarter, compared to analysts' expectations of $516.39 million. During the same quarter last year, the company posted $1.14 EPS. The company's quarterly revenue was up 11.2% compared to the same quarter last year. As a group, equities analysts anticipate that Minerals Technologies Inc. will post 6.33 earnings per share for the current fiscal year.

Minerals Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Tuesday, June 2nd will be given a dividend of $0.12 per share. The ex-dividend date is Tuesday, June 2nd. This represents a $0.48 annualized dividend and a dividend yield of 0.6%. Minerals Technologies's payout ratio is currently 9.28%.

Analyst Ratings Changes

Several brokerages recently issued reports on MTX. Seaport Research Partners reissued a "buy" rating on shares of Minerals Technologies in a report on Monday, May 4th. Truist Financial lifted their price target on shares of Minerals Technologies from $89.00 to $90.00 and gave the company a "buy" rating in a report on Monday, May 4th. Weiss Ratings raised shares of Minerals Technologies from a "sell (d+)" rating to a "hold (c+)" rating in a report on Wednesday, May 6th. Finally, Wall Street Zen raised shares of Minerals Technologies from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 2nd. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Minerals Technologies has a consensus rating of "Hold" and a consensus target price of $90.00.

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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