MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $25 Million Stock Holdings in Minerals Technologies Inc. $MTX

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Minerals Technologies Inc. by 7.9%, now holding 393,285 shares valued at approximately $25 million.
• Several analysts have upgraded ratings on MTX shares, with Truist Financial raising the price target from $80 to $84 and issuing a "buy" rating.
• Minerals Technologies recently reported earnings of $1.55 EPS, surpassing expectations, but experienced a 2.3% decline in revenue year-over-year.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Minerals Technologies Inc. (NYSE:MTX - Free Report) by 7.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 393,285 shares of the basic materials company's stock after acquiring an additional 28,877 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 1.24% of Minerals Technologies worth $25,001,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Balyasny Asset Management L.P. grew its holdings in shares of Minerals Technologies by 4.6% in the 4th 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 during the last quarter. State of Wyoming grew its holdings in shares of Minerals Technologies by 11.5% in the 1st quarter. State of Wyoming now owns 2,684 shares of the basic materials company's stock worth $171,000 after acquiring an additional 277 shares during the last quarter. EP Wealth Advisors LLC grew its holdings in shares of Minerals Technologies by 12.1% in the 4th quarter. EP Wealth Advisors LLC now owns 3,907 shares of the basic materials company's stock worth $298,000 after acquiring an additional 421 shares during the last quarter. Hsbc Holdings PLC grew its holdings in shares of Minerals Technologies by 9.2% in the 1st quarter. Hsbc Holdings PLC now owns 5,116 shares of the basic materials company's stock worth $325,000 after acquiring an additional 431 shares during the last quarter. Finally, QRG Capital Management Inc. grew 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 worth $442,000 after acquiring an additional 474 shares during the last quarter. Institutional investors and hedge funds own 97.29% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MTX. Truist Financial lifted their price target on Minerals Technologies from $80.00 to $84.00 and gave the company a "buy" rating in a report on Monday, July 28th. Wall Street Zen downgraded Minerals Technologies from a "strong-buy" rating to a "buy" rating in a report on Saturday. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $84.00.

Minerals Technologies Stock Down 2.0%

NYSE MTX traded down $1.28 on Friday, reaching $63.72. The stock had a trading volume of 166,711 shares, compared to its average volume of 216,688. The business has a 50 day moving average price of $60.87 and a 200 day moving average price of $59.66. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.57. Minerals Technologies Inc. has a 1 year low of $49.54 and a 1 year high of $86.49. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of 1,062.11 and a beta of 1.22.

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

Minerals Technologies Dividend Announcement

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

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.