M&T Bank Corp Sells 25,454 Shares of Minerals Technologies Inc. (NYSE:MTX)

M&T Bank Corp reduced its stake in Minerals Technologies Inc. (NYSE:MTX - Free Report) by 67.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,316 shares of the basic materials company's stock after selling 25,454 shares during the period. M&T Bank Corp's holdings in Minerals Technologies were worth $783,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. FMR LLC lifted its holdings in Minerals Technologies by 42.7% during the 4th quarter. FMR LLC now owns 1,761,925 shares of the basic materials company's stock worth $134,276,000 after buying an additional 527,206 shares in the last quarter. Geode Capital Management LLC raised its stake in Minerals Technologies by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 873,123 shares of the basic materials company's stock worth $66,554,000 after buying an additional 7,780 shares during the period. American Century Companies Inc. raised its stake in Minerals Technologies by 31.1% during the 4th quarter. American Century Companies Inc. now owns 861,173 shares of the basic materials company's stock worth $65,630,000 after buying an additional 204,371 shares during the period. Snyder Capital Management L P grew its holdings in shares of Minerals Technologies by 8.5% in the 4th quarter. Snyder Capital Management L P now owns 630,381 shares of the basic materials company's stock valued at $48,041,000 after acquiring an additional 49,376 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Minerals Technologies by 6.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 543,547 shares of the basic materials company's stock valued at $33,879,000 after acquiring an additional 32,342 shares in the last quarter. 97.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on MTX shares. Wall Street Zen cut Minerals Technologies from a "buy" rating to a "hold" rating in a report on Wednesday, April 9th. Truist Financial decreased their price objective on Minerals Technologies from $92.00 to $80.00 and set a "buy" rating for the company in a report on Monday, April 28th.

Minerals Technologies Stock Performance

Minerals Technologies stock traded down $0.83 during midday trading on Friday, reaching $56.68. 158,745 shares of the company's stock were exchanged, compared to its average volume of 197,543. Minerals Technologies Inc. has a 52 week low of $49.54 and a 52 week high of $90.30. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.31 and a current ratio of 1.89. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of -73.61 and a beta of 1.20. The stock's 50-day simple moving average is $57.36 and its 200 day simple moving average is $63.39.

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 analysts' consensus estimates of $1.16 by ($0.02). The business had revenue of $491.80 million for the quarter, compared to the consensus estimate of $502.03 million. Minerals Technologies had a positive return on equity of 10.90% and a negative net margin of 1.14%. The company's revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.49 EPS. On average, analysts expect that Minerals Technologies Inc. will post 6.62 earnings per share for the current fiscal year.

Minerals Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 15th will be paid a $0.11 dividend. The ex-dividend date is Friday, August 15th. This represents a $0.44 dividend on an annualized basis and a yield of 0.78%. Minerals Technologies's dividend payout ratio (DPR) is -57.14%.

Insider Buying and Selling

In other Minerals Technologies 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 bought at an average price of $53.79 per share, with a total value of $53,790.00. Following the completion of the purchase, the director directly owned 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 SEC, which is available at the SEC website. Also, CFO Erik Aldag acquired 1,000 shares of Minerals Technologies stock in a transaction that occurred on Wednesday, April 30th. The stock was acquired at an average cost of $50.37 per share, for a total transaction of $50,370.00. Following the purchase, the chief financial officer owned 4,245 shares of the company's stock, valued at $213,820.65. The trade was a 30.82% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 2,370 shares of company stock worth $124,255 over the last three months. 3.30% of the stock is currently owned by insiders.

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.