Minerals Technologies Inc. (NYSE:MTX) Position Cut by Gotham Asset Management LLC

Gotham Asset Management LLC reduced its stake in shares of Minerals Technologies Inc. (NYSE:MTX - Free Report) by 30.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,917 shares of the basic materials company's stock after selling 6,537 shares during the period. Gotham Asset Management LLC's holdings in Minerals Technologies were worth $1,137,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of MTX. First Manhattan CO. LLC. increased its position in Minerals Technologies by 1.6% during the 4th quarter. First Manhattan CO. LLC. now owns 145,678 shares of the basic materials company's stock worth $11,273,000 after purchasing an additional 2,239 shares in the last quarter. Dean Capital Management acquired a new stake in Minerals Technologies during the 4th quarter worth approximately $2,744,000. EP Wealth Advisors LLC grew its position in 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 valued at $298,000 after acquiring an additional 421 shares in the last quarter. Balyasny Asset Management L.P. grew its position in Minerals Technologies by 4.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 5,312 shares of the basic materials company's stock valued at $405,000 after acquiring an additional 235 shares in the last quarter. Finally, Bank of America Corp DE grew its position in Minerals Technologies by 4.0% in the fourth quarter. Bank of America Corp DE now owns 434,789 shares of the basic materials company's stock valued at $33,135,000 after acquiring an additional 16,683 shares in the last quarter. 97.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Minerals Technologies

In other news, Director Kristina M. Johnson acquired 1,000 shares of Minerals Technologies stock in a transaction that occurred on Friday, May 2nd. The shares were purchased at an average cost of $53.79 per share, for a total transaction of $53,790.00. Following the completion of the purchase, the director now directly owns 1,400 shares of the company's stock, valued at $75,306. This trade represents a 250.00% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 3.30% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on MTX shares. Truist Financial lowered their price objective on shares of Minerals Technologies from $92.00 to $80.00 and set a "buy" rating for the company in a research report on Monday, April 28th. StockNews.com downgraded shares of Minerals Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday, April 9th.

Minerals Technologies Stock Down 2.4%

Shares of MTX stock traded down $1.44 during mid-day trading on Wednesday, reaching $58.23. 463,563 shares of the company were exchanged, compared to its average volume of 186,887. Minerals Technologies Inc. has a fifty-two week low of $49.54 and a fifty-two week high of $90.30. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.98 and a current ratio of 2.84. The company has a market capitalization of $1.85 billion, a P/E ratio of 11.24 and a beta of 1.22. The business's 50 day simple moving average is $58.59 and its 200 day simple moving average is $69.92.

Minerals Technologies (NYSE:MTX - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The basic materials company reported $1.14 earnings per share for the quarter, missing analysts' consensus estimates of $1.16 by ($0.02). Minerals Technologies had a return on equity of 11.49% and a net margin of 7.89%. The company had revenue of $491.80 million for the quarter, compared to analyst estimates of $502.03 million. During the same period in the previous year, the business posted $1.49 EPS. The firm's quarterly revenue was down 8.0% compared to the same quarter last year. Research analysts predict that Minerals Technologies Inc. will post 6.62 earnings per share for the current year.

Minerals Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 30th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date is Friday, May 30th. Minerals Technologies's payout ratio is currently -57.14%.

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.