Minerals Technologies Inc. $MTX Shares Acquired by Amundi

Key Points

• Amundi increased its Minerals Technologies stake by 228% in the second quarter, owning 38,635 shares valued at approximately $2.86 million. Institutional investors and hedge funds collectively own 97.29% of the company.
• Analyst sentiment is mixed, with one Buy, one Hold, and one Sell rating; the consensus rating is Hold with a $90 price target.
• Minerals Technologies recently reported quarterly earnings of $1.60 per share, below the $1.64 consensus estimate, while revenue rose 3.7% year over year to $548.4 million. The company also maintains a quarterly dividend of $0.12, yielding about 0.7%.

Amundi boosted its position in shares of Minerals Technologies Inc. (NYSE:MTX - Free Report) by 228.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,635 shares of the basic materials company's stock after buying an additional 26,855 shares during the quarter. Amundi owned 0.12% of Minerals Technologies worth $2,858,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Royal Bank of Canada lifted its holdings in Minerals Technologies by 28.4% in the 1st quarter. Royal Bank of Canada now owns 19,629 shares of the basic materials company's stock valued at $1,249,000 after acquiring an additional 4,337 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Minerals Technologies by 9.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 110,044 shares of the basic materials company's stock worth $6,995,000 after purchasing an additional 9,363 shares in the last quarter. Jane Street Group LLC lifted its stake in Minerals Technologies by 177.6% during the first quarter. Jane Street Group LLC now owns 68,156 shares of the basic materials company's stock valued at $4,333,000 after purchasing an additional 43,604 shares during the last quarter. Intech Investment Management LLC lifted its stake in Minerals Technologies by 30.5% during the first quarter. Intech Investment Management LLC now owns 18,504 shares of the basic materials company's stock valued at $1,176,000 after purchasing an additional 4,322 shares during the last quarter. Finally, Strs Ohio bought a new stake in Minerals Technologies during the first quarter worth approximately $70,000. 97.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Wall Street Zen cut Minerals Technologies from a "strong-buy" rating to a "hold" rating in a report on Saturday, August 8th. Weiss Ratings lowered Minerals Technologies from a "hold (c+)" rating to a "sell (d+)" rating in a research note on Monday, August 3rd. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $90.00.

Minerals Technologies Price Performance

MTX stock opened at $68.82 on Monday. Minerals Technologies Inc. has a one year low of $53.94 and a one year high of $84.34. The firm has a 50-day moving average of $72.79 and a two-hundred day moving average of $73.34. The firm has a market capitalization of $2.14 billion, a PE ratio of -31.71 and a beta of 1.14. The company has a current ratio of 1.43, a quick ratio of 1.00 and a debt-to-equity ratio of 0.60.

Minerals Technologies (NYSE:MTX - Get Free Report) last released its earnings results on Thursday, July 30th. The basic materials company reported $1.60 earnings per share for the quarter, missing the consensus estimate of $1.64 by ($0.04). The firm had revenue of $548.40 million during the quarter, compared to analysts' expectations of $558.77 million. Minerals Technologies had a positive return on equity of 10.63% and a negative net margin of 3.13%.The business's revenue was up 3.7% on a year-over-year basis. During the same period last year, the business earned $1.55 earnings per share. On average, analysts forecast that Minerals Technologies Inc. will post 6.03 earnings per share for the current year.

Minerals Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 4th. Investors of record on Friday, August 14th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Friday, August 14th. Minerals Technologies's dividend payout ratio is currently -22.12%.

About Minerals Technologies

Minerals Technologies Inc NYSE: MTX is a global resource-based specialty minerals company that develops, produces and markets mineral-based products and related technologies. Its materials are used in a range of industries, including paper and packaging, construction, environmental services, energy, agriculture, food, personal care and household products.

The company's offerings include precipitated calcium carbonate, quicklime, bentonite, talc, bentonite-based products, synthetic mineral products and other specialty mineral solutions.

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