Charles Schwab Investment Management Inc. Reduces Stake in Minerals Technologies Inc. $MTX

Key Points

• Charles Schwab Investment Management Inc. decreased its stake in Minerals Technologies Inc. by 2.9%, owning 538,798 shares valued at approximately $34.25 million.
• Minerals Technologies recently reported a net margin of 0.10% and quarterly earnings of $1.55 per share, exceeding expectations by $0.12.
• The company has announced a quarterly dividend of $0.11, with a dividend yield of 0.7% and a payout ratio of 733.33%.

Charles Schwab Investment Management Inc. cut its holdings in shares of Minerals Technologies Inc. (NYSE:MTX - Free Report) by 2.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 538,798 shares of the basic materials company's stock after selling 16,359 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.70% of Minerals Technologies worth $34,251,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quarry LP increased its position in shares of Minerals Technologies by 536.5% during the fourth quarter. Quarry LP now owns 732 shares of the basic materials company's stock worth $56,000 after acquiring an additional 617 shares in the last quarter. PharVision Advisers LLC bought a new stake in shares of Minerals Technologies during the fourth quarter worth about $236,000. Sterling Capital Management LLC boosted its holdings in Minerals Technologies by 32.9% during the fourth 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. Lido Advisors LLC boosted its holdings in Minerals Technologies by 39.2% during the fourth quarter. Lido Advisors LLC now owns 3,660 shares of the basic materials company's stock worth $279,000 after purchasing an additional 1,030 shares during the last quarter. Finally, EP Wealth Advisors LLC boosted its holdings in Minerals Technologies by 12.1% during the fourth 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. 97.29% of the stock is owned by institutional investors.

Minerals Technologies Stock Up 4.4%

Minerals Technologies stock traded up $2.6880 during midday trading on Friday, hitting $63.8180. 208,775 shares of the stock were exchanged, compared to its average volume of 257,283. 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 stock has a market capitalization of $2.00 billion, a price-to-earnings ratio of 1,063.81 and a beta of 1.22. Minerals Technologies Inc. has a 52-week low of $49.54 and a 52-week high of $86.49. The business's 50-day moving average price is $58.26 and its 200-day moving average price is $60.47.

Minerals Technologies (NYSE:MTX - Get Free Report) last released its 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. The firm had revenue of $528.90 million for the quarter, compared to analysts' expectations of $529.13 million. Minerals Technologies had a net margin of 0.10% and a return on equity of 10.64%. The company's quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.65 earnings per share. On average, research analysts expect that Minerals Technologies Inc. will post 6.62 EPS for the current fiscal year.

Minerals Technologies Announces Dividend

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

Analysts Set New Price Targets

Several research firms recently weighed in on MTX. Truist Financial boosted their price target 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 upgraded shares of Minerals Technologies from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus 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.