Louisiana State Employees Retirement System purchased a new position in Minerals Technologies Inc. (NYSE:MTX - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 13,800 shares of the basic materials company's stock, valued at approximately $979,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CSM Advisors LLC raised its position in Minerals Technologies by 17.3% in the 3rd quarter. CSM Advisors LLC now owns 104,078 shares of the basic materials company's stock valued at $6,464,000 after purchasing an additional 15,384 shares during the last quarter. Brandes Investment Partners LP raised its holdings in shares of 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 valued at $49,973,000 after buying an additional 152,950 shares during the last quarter. UBS Group AG raised its holdings in shares of Minerals Technologies by 49.5% in the fourth quarter. UBS Group AG now owns 38,541 shares of the basic materials company's stock valued at $2,349,000 after buying an additional 12,761 shares during the last quarter. LSV Asset Management lifted its position in Minerals Technologies by 12.2% during the 4th quarter. LSV Asset Management now owns 211,522 shares of the basic materials company's stock worth $12,892,000 after buying an additional 23,000 shares in the last quarter. Finally, AlphaQuest LLC lifted its position in Minerals Technologies by 281.4% during the 4th quarter. AlphaQuest LLC now owns 27,665 shares of the basic materials company's stock worth $1,686,000 after buying an additional 20,411 shares in the last quarter. Institutional investors own 97.29% of the company's stock.
Wall Street Analyst Weigh In
MTX has been the topic of a number of research analyst reports. Truist Financial increased their price objective on shares of Minerals Technologies from $89.00 to $90.00 and gave the stock a "buy" rating in a report on Monday, May 4th. Seaport Research Partners reiterated a "buy" rating on shares of Minerals Technologies in a research report on Monday, May 4th. Weiss Ratings raised shares of Minerals Technologies from a "sell (d+)" rating to a "hold (c+)" rating in a research note 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. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $90.00.
Check Out Our Latest Research Report on Minerals Technologies
Insider Buying and Selling
In related news, VP Timothy Jordan sold 6,000 shares of the firm's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $80.27, for a total value of $481,620.00. Following the completion of the transaction, the vice president owned 1,279 shares of the company's stock, valued at approximately $102,665.33. This trade represents a 82.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.70% of the company's stock.
Minerals Technologies Price Performance
Shares of MTX opened at $74.30 on Monday. Minerals Technologies Inc. has a 1 year low of $53.94 and a 1 year high of $84.34. The stock has a market cap of $2.30 billion, a P/E ratio of 14.37 and a beta of 1.15. 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's 50-day moving average price is $76.68 and its two-hundred day moving average price is $71.21.
Minerals Technologies (NYSE:MTX - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The basic materials company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.12. The business had revenue of $546.90 million during the quarter, compared to analyst estimates of $516.39 million. Minerals Technologies had a return on equity of 10.40% and a net margin of 7.60%.Minerals Technologies's quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.14 EPS. On average, equities analysts predict that Minerals Technologies Inc. will post 6.33 earnings per share for the current year.
Minerals Technologies Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Tuesday, June 2nd were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Tuesday, June 2nd. Minerals Technologies's dividend payout ratio (DPR) is currently 9.28%.
Minerals Technologies Company Profile
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Free Report)
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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