Charles Schwab Investment Management Inc. Sells 16,359 Shares of 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. trimmed its position in shares of Minerals Technologies Inc. (NYSE:MTX - Free Report) by 2.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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 1.70% of Minerals Technologies worth $34,251,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in MTX. Quarry LP boosted its position in 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 purchasing an additional 617 shares during the period. PharVision Advisers LLC acquired a new stake in shares of Minerals Technologies during the fourth quarter worth $236,000. Sterling Capital Management LLC increased its position in shares of Minerals Technologies by 32.9% in 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 period. Lido Advisors LLC increased its position in shares of Minerals Technologies by 39.2% in 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 period. Finally, EP Wealth Advisors LLC increased its position in shares of Minerals Technologies by 12.1% in 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 period. 97.29% of the stock is currently owned by institutional investors and hedge funds.

Minerals Technologies Trading Up 0.5%

Minerals Technologies stock traded up $0.3010 during trading hours on Thursday, hitting $60.9410. The stock had a trading volume of 120,264 shares, compared to its average volume of 239,576. 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 cap of $1.91 billion, a price-to-earnings ratio of 1,015.85 and a beta of 1.22. Minerals Technologies Inc. has a one year low of $49.54 and a one year high of $86.49. The business's 50 day simple moving average is $57.97 and its 200-day simple moving average is $60.75.

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

Minerals Technologies Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on MTX shares. Truist Financial raised their price objective on 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 raised Minerals Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $84.00.

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.