Cubist Systematic Strategies LLC Has $4.02 Million Holdings in Minerals Technologies Inc. $MTX

Key Points

• Cubist Systematic Strategies LLC increased its stake in Minerals Technologies Inc. by 189.4% in Q1, acquiring 41,398 additional shares, bringing its total to 63,259 shares worth $4,021,000.
• Royal Bank of Canada and Graham Capital Management L.P. also boosted their stakes in the company by 28.4% and 35.2% respectively during the same period, indicating strong institutional interest.
• Minerals Technologies recently reported earnings of $1.55 EPS, beating estimates, but experienced a 2.3% decline in year-over-year revenue.

Cubist Systematic Strategies LLC lifted its holdings in shares of Minerals Technologies Inc. (NYSE:MTX - Free Report) by 189.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,259 shares of the basic materials company's stock after buying an additional 41,398 shares during the period. Cubist Systematic Strategies LLC owned about 0.20% of Minerals Technologies worth $4,021,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Balyasny Asset Management L.P. raised its holdings in Minerals Technologies by 4.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 5,312 shares of the basic materials company's stock worth $405,000 after acquiring an additional 235 shares in the last quarter. State of Wyoming increased its position in shares of Minerals Technologies by 11.5% during the 1st quarter. State of Wyoming now owns 2,684 shares of the basic materials company's stock worth $171,000 after purchasing an additional 277 shares during the last quarter. EP Wealth Advisors LLC increased its position in shares of Minerals Technologies by 12.1% during the 4th quarter. EP Wealth Advisors LLC now owns 3,907 shares of the basic materials company's stock worth $298,000 after purchasing an additional 421 shares during the last quarter. Hsbc Holdings PLC raised its stake in shares of Minerals Technologies by 9.2% during the 1st quarter. Hsbc Holdings PLC now owns 5,116 shares of the basic materials company's stock worth $325,000 after purchasing an additional 431 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its holdings in shares of Minerals Technologies by 7.3% in the 1st quarter. QRG Capital Management Inc. now owns 6,955 shares of the basic materials company's stock valued at $442,000 after buying an additional 474 shares during the last quarter. Institutional investors own 97.29% of the company's stock.

Minerals Technologies Stock Performance

Shares of NYSE MTX traded up $0.10 during mid-day trading on Wednesday, reaching $63.10. 324,358 shares of the company were exchanged, compared to its average volume of 216,721. The stock has a market capitalization of $1.98 billion, a P/E ratio of 1,051.83 and a beta of 1.22. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.57. The company's 50-day simple moving average is $60.65 and its 200-day simple moving average is $59.81. Minerals Technologies Inc. has a twelve month low of $49.54 and a twelve month high of $86.49.

Minerals Technologies (NYSE:MTX - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.12. Minerals Technologies had a net margin of 0.10% and a return on equity of 10.64%. The firm had revenue of $528.90 million for the quarter, compared to analysts' expectations of $529.13 million. During the same period in the prior year, the firm earned $1.65 EPS. The business's revenue was down 2.3% on a year-over-year basis. As a group, research analysts predict that Minerals Technologies Inc. will post 6.62 earnings per share for the current year.

Minerals Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 15th were paid a $0.11 dividend. The ex-dividend date was Friday, August 15th. This represents a $0.44 annualized dividend and a yield of 0.7%. Minerals Technologies's payout ratio is 733.33%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MTX. Truist Financial boosted their target price on shares of Minerals Technologies from $80.00 to $84.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Wall Street Zen raised shares of Minerals Technologies from a "buy" rating to a "strong-buy" rating in a research report on Friday, September 5th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Minerals Technologies currently has an average rating of "Buy" and an average target price of $84.00.

Minerals Technologies 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.