LSV Asset Management Buys 23,000 Shares of Minerals Technologies Inc. $MTX

LSV Asset Management boosted its stake in shares of Minerals Technologies Inc. (NYSE:MTX - Free Report) by 12.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 211,522 shares of the basic materials company's stock after acquiring an additional 23,000 shares during the quarter. LSV Asset Management owned about 0.68% of Minerals Technologies worth $12,892,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. American Century Companies Inc. grew its stake in shares of Minerals Technologies by 3.1% during the third quarter. American Century Companies Inc. now owns 1,324,392 shares of the basic materials company's stock valued at $82,271,000 after buying an additional 39,860 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Minerals Technologies by 26.5% during the second quarter. Ameriprise Financial Inc. now owns 496,215 shares of the basic materials company's stock valued at $27,327,000 after buying an additional 103,853 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Minerals Technologies by 22.2% during the second quarter. Bank of America Corp DE now owns 483,970 shares of the basic materials company's stock valued at $26,652,000 after buying an additional 87,989 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Minerals Technologies by 1.7% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 389,254 shares of the basic materials company's stock valued at $24,180,000 after buying an additional 6,423 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Minerals Technologies by 3.3% during the third quarter. Victory Capital Management Inc. now owns 295,972 shares of the basic materials company's stock valued at $18,386,000 after buying an additional 9,395 shares during the last quarter. Institutional investors own 97.29% of the company's stock.

Minerals Technologies Stock Down 0.2%

Shares of NYSE MTX opened at $76.63 on Tuesday. The stock has a 50 day moving average price of $72.77 and a 200 day moving average price of $67.41. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.47 and a current ratio of 2.13. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of 14.82 and a beta of 1.12. Minerals Technologies Inc. has a 52-week low of $53.10 and a 52-week high of $84.34.

Minerals Technologies (NYSE:MTX - Get Free Report) last posted its earnings results on Thursday, April 30th. The basic materials company reported $1.38 earnings per share for the quarter, topping analysts' consensus estimates of $1.26 by $0.12. The company 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 revenue was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.14 earnings per share. Sell-side analysts expect that Minerals Technologies Inc. will post 6.33 earnings per share for the current year.

Minerals Technologies Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MTX. Wall Street Zen upgraded Minerals Technologies from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 2nd. Truist Financial boosted their price target on Minerals Technologies from $89.00 to $90.00 and gave the company a "buy" rating in a report on Monday, May 4th. Weiss Ratings upgraded Minerals Technologies from a "sell (d+)" rating to a "hold (c+)" rating in a report on Wednesday, May 6th. Finally, Seaport Research Partners reiterated a "buy" rating on shares of Minerals Technologies in a report on Monday, May 4th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, Minerals Technologies currently has a consensus rating of "Hold" and an average target price of $90.00.

Insiders Place Their Bets

In other Minerals Technologies news, VP Timothy Jordan sold 6,000 shares of the company's stock in a transaction on Monday, May 11th. The stock was 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. This represents a 82.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 3.70% of the stock is currently owned by corporate insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.