Harbor Capital Advisors Inc. Purchases Shares of 10,249 Minerals Technologies Inc. (NYSE:MTX)

Harbor Capital Advisors Inc. acquired a new position in shares of Minerals Technologies Inc. (NYSE:MTX - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,249 shares of the basic materials company's stock, valued at approximately $652,000.

A number of other hedge funds also recently made changes to their positions in the stock. Wedge Capital Management L L P NC raised its position in shares of Minerals Technologies by 13.3% during the first quarter. Wedge Capital Management L L P NC now owns 20,639 shares of the basic materials company's stock worth $1,312,000 after acquiring an additional 2,419 shares during the last quarter. Vest Financial LLC bought a new stake in Minerals Technologies in the first quarter worth approximately $1,475,000. GAMMA Investing LLC increased its holdings in Minerals Technologies by 15,381.2% in the first quarter. GAMMA Investing LLC now owns 13,159 shares of the basic materials company's stock worth $837,000 after purchasing an additional 13,074 shares in the last quarter. Jefferies Financial Group Inc. bought a new stake in Minerals Technologies in the fourth quarter worth approximately $3,078,000. Finally, Mackenzie Financial Corp bought a new stake in Minerals Technologies in the fourth quarter worth approximately $298,000. 97.29% of the stock is currently owned by institutional investors.

Minerals Technologies Stock Performance

Minerals Technologies stock traded down $1.97 during mid-day trading on Friday, reaching $54.03. 241,204 shares of the company's stock were exchanged, compared to its average volume of 189,586. The business's fifty day simple moving average is $56.59 and its 200 day simple moving average is $67.09. The firm has a market capitalization of $1.71 billion, a PE ratio of 10.43 and a beta of 1.22. Minerals Technologies Inc. has a one year low of $49.54 and a one year high of $90.30. The company has a quick ratio of 1.98, a current ratio of 2.84 and a debt-to-equity ratio of 0.54.

Minerals Technologies (NYSE:MTX - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The basic materials company reported $1.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.16 by ($0.02). Minerals Technologies had a net margin of 7.89% and a return on equity of 11.49%. The company had revenue of $491.80 million for the quarter, compared to the consensus estimate of $502.03 million. During the same quarter in the previous year, the firm posted $1.49 earnings per share. The business's revenue for the quarter was down 8.0% compared to the same quarter last year. On average, sell-side analysts expect that Minerals Technologies Inc. will post 6.62 earnings per share for the current year.

Minerals Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 30th were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.81%. The ex-dividend date was Friday, May 30th. Minerals Technologies's dividend payout ratio is presently -57.14%.

Insider Activity at Minerals Technologies

In other news, CFO Erik Aldag bought 1,000 shares of the firm's stock in a transaction dated Wednesday, April 30th. The stock was purchased at an average price of $50.37 per share, with a total value of $50,370.00. Following the transaction, the chief financial officer now owns 4,245 shares of the company's stock, valued at approximately $213,820.65. The trade was a 30.82% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

MTX has been the subject of a number of research analyst reports. Wall Street Zen downgraded Minerals Technologies from a "buy" rating to a "hold" rating in a report on Wednesday, April 9th. Truist Financial reduced their price objective on Minerals Technologies from $92.00 to $80.00 and set a "buy" rating for the company in a research note on Monday, April 28th.

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.