Minerals Technologies Inc. $MTX Shares Sold by State of Alaska Department of Revenue

Key Points

• State of Alaska Department of Revenue trimmed its stake in Minerals Technologies by 68.7% in Q4 and now holds 17,211 shares (about 0.06% of the company) valued at roughly $1.05 million.
• Institutional ownership is very high (~97.29%), and several funds including Royal Bank of Canada, UBS AM, and Jane Street increased their MTX positions in Q1.
• Analysts have a consensus rating of "Hold" with an average price target of $89; MTX opened at $71.06 (12‑month range $49.54–$75.29) and last quarter reported EPS of $1.27, missing estimates by $0.01.

State of Alaska Department of Revenue trimmed its stake in shares of Minerals Technologies Inc. (NYSE:MTX - Free Report) by 68.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,211 shares of the basic materials company's stock after selling 37,736 shares during the quarter. State of Alaska Department of Revenue owned about 0.06% of Minerals Technologies worth $1,048,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in MTX. Royal Bank of Canada raised its position in shares of Minerals Technologies by 28.4% during the 1st quarter. Royal Bank of Canada now owns 19,629 shares of the basic materials company's stock worth $1,249,000 after purchasing an additional 4,337 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Minerals Technologies by 9.3% during 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 during the period. Jane Street Group LLC raised its position in shares of Minerals Technologies by 177.6% during the 1st quarter. Jane Street Group LLC now owns 68,156 shares of the basic materials company's stock worth $4,333,000 after purchasing an additional 43,604 shares during the period. Intech Investment Management LLC raised its position in shares of Minerals Technologies by 30.5% during the 1st quarter. Intech Investment Management LLC now owns 18,504 shares of the basic materials company's stock worth $1,176,000 after purchasing an additional 4,322 shares during the period. Finally, Strs Ohio acquired a new stake in shares of Minerals Technologies during the 1st quarter worth approximately $70,000. 97.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MTX has been the topic of a number of research reports. Zacks Research upgraded Minerals Technologies from a "strong sell" rating to a "hold" rating in a research report on Wednesday, January 14th. Truist Financial increased their price target on Minerals Technologies from $84.00 to $89.00 and gave the stock a "buy" rating in a research report on Monday, February 2nd. Finally, Wall Street Zen cut Minerals Technologies from a "strong-buy" rating to a "buy" rating in a research report on Saturday. One investment 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 MarketBeat, the company has a consensus rating of "Hold" and an average price target of $89.00.

Minerals Technologies Stock Performance

Shares of MTX stock opened at $71.06 on Wednesday. Minerals Technologies Inc. has a 12-month low of $49.54 and a 12-month high of $75.29. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of -139.33 and a beta of 1.19. The business has a 50 day simple moving average of $70.48 and a 200 day simple moving average of $64.74. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.08 and a quick ratio of 1.45.

Minerals Technologies (NYSE:MTX - Get Free Report) last issued its quarterly earnings data on Thursday, January 29th. The basic materials company reported $1.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.28 by ($0.01). Minerals Technologies had a positive return on equity of 10.22% and a negative net margin of 0.89%.The business had revenue of $519.50 million during the quarter, compared to the consensus estimate of $517.83 million. During the same period last year, the company earned $1.28 earnings per share. The business's quarterly revenue was up .3% compared to the same quarter last year. On average, equities research analysts anticipate that Minerals Technologies Inc. will post 6.23 EPS for the current year.

Minerals Technologies Profile

Minerals Technologies Inc develops, produces and processes a broad range of mineral-based products and solutions that serve a variety of industrial applications. Its offerings include bentonite, perlite, precipitated calcium carbonate (PCC), mineral sands, foundry additives, performance minerals and specialty chemicals designed to enhance performance in markets such as paper, steel, construction, oil and gas, environmental remediation and consumer products.

The company operates through several business segments, including Specialty Minerals, Refractory Minerals, Performance Materials and Recycled Materials.

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