Millennium Management LLC Sells 67,739 Shares of Minerals Technologies Inc. (NYSE:MTX)

Millennium Management LLC decreased its holdings in Minerals Technologies Inc. (NYSE:MTX - Free Report) by 48.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 71,877 shares of the basic materials company's stock after selling 67,739 shares during the quarter. Millennium Management LLC owned 0.23% of Minerals Technologies worth $5,478,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in MTX. Smartleaf Asset Management LLC boosted its stake in Minerals Technologies by 181.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 506 shares of the basic materials company's stock worth $38,000 after purchasing an additional 326 shares during the period. Quarry LP boosted its stake in Minerals Technologies by 536.5% in the 4th quarter. Quarry LP now owns 732 shares of the basic materials company's stock worth $56,000 after purchasing an additional 617 shares during the period. Blue Trust Inc. boosted its stake in Minerals Technologies by 21.4% in the 4th quarter. Blue Trust Inc. now owns 1,009 shares of the basic materials company's stock worth $78,000 after purchasing an additional 178 shares during the period. Venturi Wealth Management LLC acquired a new position in Minerals Technologies in the 4th quarter worth approximately $78,000. Finally, KBC Group NV boosted its stake in Minerals Technologies by 43.9% in the 4th quarter. KBC Group NV now owns 1,478 shares of the basic materials company's stock worth $113,000 after purchasing an additional 451 shares during the period. Institutional investors and hedge funds own 97.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MTX. Wall Street Zen lowered shares of Minerals Technologies from a "buy" rating to a "hold" rating in a research note on Wednesday, April 9th. Truist Financial decreased their target price on shares of 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 Stock Down 1.5%

Shares of NYSE:MTX traded down $0.84 during trading on Monday, reaching $55.94. 238,791 shares of the company traded hands, compared to its average volume of 188,481. The firm has a fifty day simple moving average of $57.22 and a 200 day simple moving average of $68.58. The firm has a market cap of $1.78 billion, a P/E ratio of 10.80 and a beta of 1.22. Minerals Technologies Inc. has a 1-year low of $49.54 and a 1-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 issued its earnings results 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). The company had revenue of $491.80 million for the quarter, compared to analyst estimates of $502.03 million. Minerals Technologies had a net margin of 7.89% and a return on equity of 11.49%. The company's quarterly revenue was down 8.0% on a year-over-year basis. During the same period last year, the business earned $1.49 EPS. Analysts anticipate that Minerals Technologies Inc. will post 6.62 earnings per share for the current fiscal year.

Minerals Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend is Friday, May 30th. Minerals Technologies's dividend payout ratio (DPR) is currently -57.14%.

Insider Buying and Selling at Minerals Technologies

In other Minerals Technologies news, CFO Erik Aldag purchased 1,000 shares of the business's stock in a transaction dated Wednesday, April 30th. The shares were acquired at an average price of $50.37 per share, for a total transaction of $50,370.00. Following the acquisition, the chief financial officer now owns 4,245 shares of the company's stock, valued at $213,820.65. This trade represents a 30.82% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 3.30% of the company's stock.

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.