Minerals Technologies Inc. $MTX Shares Purchased by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

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

Other large investors have also modified their holdings of the company. Quarry LP boosted its stake in shares of Minerals Technologies by 105.3% in the first quarter. Quarry LP now owns 1,503 shares of the basic materials company's stock valued at $96,000 after purchasing an additional 771 shares during the period. Quantbot Technologies LP acquired a new stake in Minerals Technologies during the 1st quarter worth $124,000. State of Wyoming lifted 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 valued at $171,000 after purchasing an additional 277 shares during the last quarter. PharVision Advisers LLC acquired a new stake in shares of Minerals Technologies in the fourth quarter valued at approximately $236,000. Finally, EP Wealth Advisors LLC increased 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 valued at $298,000 after acquiring an additional 421 shares during the period. Institutional investors and hedge funds own 97.29% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on MTX shares. Truist Financial boosted their price objective on shares of Minerals Technologies from $80.00 to $84.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Wall Street Zen upgraded shares of Minerals Technologies from a "buy" rating to a "strong-buy" rating in a research report on Friday. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Minerals Technologies currently has a consensus rating of "Buy" and a consensus target price of $84.00.

Minerals Technologies Stock Up 1.2%

Shares of NYSE:MTX opened at $64.03 on Monday. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.57. Minerals Technologies Inc. has a 52-week low of $49.54 and a 52-week high of $86.49. The company has a 50 day moving average of $60.28 and a two-hundred day moving average of $59.80. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of 1,067.41 and a beta of 1.22.

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

Minerals Technologies Dividend Announcement

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

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.

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