Jupiter Topco LLC Buys Shares of 14,325 Minerals Technologies Inc. $MTX

Key Points

• Jupiter Topco LLC initiated a position in Minerals Technologies by purchasing 14,325 shares valued at approximately $1.06 million. Institutional investors collectively own 97.29% of MTX, including a new $361.7 million stake from BlackRock.
• Minerals Technologies reported quarterly EPS of $1.60, missing estimates of $1.64, while revenue rose 3.7% year over year to $548.4 million, below the $558.8 million consensus.
• MTX pays a quarterly dividend of $0.12 per share, or $0.48 annually, for a 0.7% yield. Analyst sentiment is currently “Hold”, with a consensus price target of $90, despite recent rating downgrades.

Jupiter Topco LLC purchased a new position in shares of Minerals Technologies Inc. (NYSE:MTX - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 14,325 shares of the basic materials company's stock, valued at approximately $1,059,000.

Several other institutional investors also recently modified their holdings of the business. BlackRock Inc. bought a new stake in shares of Minerals Technologies in the 2nd quarter valued at about $361,721,000. State Street Corp grew its holdings in Minerals Technologies by 0.5% during the 4th quarter. State Street Corp now owns 1,221,398 shares of the basic materials company's stock worth $74,444,000 after acquiring an additional 6,458 shares during the period. Geode Capital Management LLC raised its position in shares of Minerals Technologies by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 897,850 shares of the basic materials company's stock worth $54,732,000 after acquiring an additional 4,693 shares in the last quarter. Brandes Investment Partners LP increased its holdings in Minerals Technologies by 22.9% in the fourth quarter. Brandes Investment Partners LP now owns 819,908 shares of the basic materials company's stock worth $49,973,000 after purchasing an additional 152,950 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Minerals Technologies by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 597,297 shares of the basic materials company's stock valued at $36,405,000 after acquiring an additional 15,467 shares during the period. Institutional investors own 97.29% of the company's stock.

Minerals Technologies Stock Performance

Shares of MTX opened at $71.91 on Friday. The firm has a market cap of $2.24 billion, a PE ratio of -33.14 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. The stock's fifty day moving average price is $73.26 and its two-hundred day moving average price is $73.41. Minerals Technologies Inc. has a 1 year low of $53.94 and a 1 year 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 EPS for the quarter, missing the consensus estimate of $1.64 by ($0.04). Minerals Technologies had a positive return on equity of 10.63% and a negative net margin of 3.13%.The business had revenue of $548.40 million during the quarter, compared to the consensus estimate of $558.77 million. During the same period last year, the business posted $1.55 earnings per share. The firm's quarterly revenue was up 3.7% on a year-over-year basis. On average, equities research analysts forecast that Minerals Technologies Inc. will post 6.03 EPS for the current year.

Minerals Technologies Announces Dividend

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

Analyst Ratings Changes

MTX has been the subject of a number of research analyst reports. Weiss Ratings lowered Minerals Technologies from a "hold (c+)" rating to a "sell (d+)" rating in a research report on Monday, August 3rd. Wall Street Zen lowered Minerals Technologies from a "strong-buy" rating to a "hold" rating in a report on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Minerals Technologies currently has an average rating of "Hold" and a consensus target price of $90.00.

About Minerals Technologies

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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