Minerals Technologies Inc. (NYSE:MTX) Holdings Lowered by Gotham Asset Management LLC

Gotham Asset Management LLC trimmed its position in shares of Minerals Technologies Inc. (NYSE:MTX - Free Report) by 30.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in MTX. Barclays PLC grew its holdings in Minerals Technologies by 210.1% during the 3rd quarter. Barclays PLC now owns 111,526 shares of the basic materials company's stock worth $8,615,000 after acquiring an additional 75,565 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Minerals Technologies by 2.0% during the 3rd quarter. Principal Financial Group Inc. now owns 162,291 shares of the basic materials company's stock worth $12,534,000 after acquiring an additional 3,230 shares in the last quarter. SG Americas Securities LLC acquired a new position in Minerals Technologies during the 4th quarter worth $145,000. Blue Trust Inc. grew its holdings in Minerals Technologies by 21.4% during the 4th quarter. Blue Trust Inc. now owns 1,009 shares of the basic materials company's stock worth $78,000 after acquiring an additional 178 shares in the last quarter. Finally, KBC Group NV grew its holdings in Minerals Technologies by 43.9% during the 4th quarter. KBC Group NV now owns 1,478 shares of the basic materials company's stock worth $113,000 after acquiring an additional 451 shares in the last quarter. 97.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Wall Street Zen lowered shares of Minerals Technologies from a "buy" rating to a "hold" rating in a report on Wednesday, April 9th. Truist Financial decreased their price target on shares of Minerals Technologies from $92.00 to $80.00 and set a "buy" rating for the company in a report on Monday, April 28th.

Insider Activity at Minerals Technologies

In other news, Director Kristina M. Johnson acquired 1,000 shares of the business's 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 transaction, the director now directly owns 1,400 shares in the company, valued at $75,306. This trade represents a 250.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.30% of the stock is currently owned by insiders.

Minerals Technologies Stock Performance

Shares of NYSE MTX traded down $0.49 during midday trading on Friday, hitting $58.28. The company's stock had a trading volume of 263,928 shares, compared to its average volume of 187,449. Minerals Technologies Inc. has a 1-year low of $49.54 and a 1-year high of $90.30. The firm's fifty day moving average price is $58.02 and its 200-day moving average price is $69.59. 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 firm has a market cap of $1.85 billion, a P/E ratio of 11.25 and a beta of 1.22.

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

Minerals Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 30th will be given a $0.11 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.44 annualized dividend and a yield of 0.75%. Minerals Technologies's dividend payout ratio is presently -57.14%.

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.