Minerals Technologies Inc. $MTX Shares Sold by Vanguard Group Inc.

Key Points

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Vanguard Group Inc. reduced its position in Minerals Technologies Inc. (NYSE:MTX - Free Report) by 1.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,674,388 shares of the basic materials company's stock after selling 47,181 shares during the period. Vanguard Group Inc. owned approximately 11.58% of Minerals Technologies worth $233,581,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. LPL Financial LLC lifted its position in Minerals Technologies by 21.5% during the 4th quarter. LPL Financial LLC now owns 7,742 shares of the basic materials company's stock worth $590,000 after acquiring an additional 1,368 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Minerals Technologies by 27.9% during the 4th quarter. Wells Fargo & Company MN now owns 21,642 shares of the basic materials company's stock worth $1,649,000 after purchasing an additional 4,719 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in Minerals Technologies by 5.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 18,125 shares of the basic materials company's stock worth $1,381,000 after purchasing an additional 973 shares during the last quarter. Bank of Montreal Can increased its holdings in Minerals Technologies by 4.5% during the 4th quarter. Bank of Montreal Can now owns 7,309 shares of the basic materials company's stock worth $557,000 after purchasing an additional 312 shares during the last quarter. Finally, Sterling Capital Management LLC increased its holdings in Minerals Technologies by 32.9% during the 4th quarter. Sterling Capital Management LLC now owns 3,589 shares of the basic materials company's stock worth $274,000 after purchasing an additional 888 shares during the last quarter. 97.29% of the stock is owned by institutional investors and hedge funds.

Minerals Technologies Price Performance

MTX stock opened at $60.46 on Tuesday. Minerals Technologies Inc. has a 52-week low of $49.54 and a 52-week high of $86.49. 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 has a market capitalization of $1.90 billion, a PE ratio of 1,007.85 and a beta of 1.22. The stock's 50 day moving average is $57.91 and its two-hundred day moving average is $60.76.

Minerals Technologies (NYSE:MTX - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.55 earnings per share 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 business had revenue of $528.90 million during the quarter, compared to the consensus estimate of $529.13 million. During the same period in the previous year, the business earned $1.65 EPS. The business's quarterly revenue was down 2.3% on a year-over-year basis. Analysts predict that Minerals Technologies Inc. will post 6.62 earnings per share for the current fiscal year.

Minerals Technologies Announces Dividend

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

Analyst Ratings Changes

MTX has been the topic of several analyst reports. Truist Financial lifted their price objective on 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 upgraded Minerals Technologies from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd.

About Minerals Technologies

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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