Minerals Technologies Inc. (NYSE:MTX) Shares Sold by M&T Bank Corp

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

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

Analyst Ratings Changes

A number of research firms have commented on MTX. Truist Financial reduced 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 note on Monday, April 28th. Wall Street Zen lowered shares of Minerals Technologies from a "buy" rating to a "hold" rating in a research note on Wednesday, April 9th.

Insiders Place Their Bets

In other Minerals Technologies news, CFO Erik Aldag bought 1,000 shares of Minerals Technologies stock in a transaction on Wednesday, April 30th. The stock was purchased at an average cost of $50.37 per share, for a total transaction of $50,370.00. Following the completion of the purchase, the chief financial officer directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kristina M. Johnson purchased 1,000 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were acquired at an average price of $53.79 per share, for a total transaction of $53,790.00. Following the purchase, the director owned 1,400 shares in the company, valued at $75,306. The trade was a 250.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 2,370 shares of company stock valued at $124,255. Insiders own 3.50% of the company's stock.

Minerals Technologies Stock Down 0.8%

Shares of Minerals Technologies stock opened at $58.69 on Tuesday. Minerals Technologies Inc. has a 1 year low of $49.54 and a 1 year high of $90.30. The company has a market cap of $1.86 billion, a P/E ratio of -76.21 and a beta of 1.20. The company has a current ratio of 1.89, a quick ratio of 1.31 and a debt-to-equity ratio of 0.59. The stock has a 50-day moving average price of $57.13 and a 200 day moving average price of $63.61.

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). The company had revenue of $491.80 million for the quarter, compared to analyst estimates of $502.03 million. Minerals Technologies had a positive return on equity of 10.90% and a negative net margin of 1.14%. The business's revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.49 earnings per share. As a group, analysts expect that Minerals Technologies Inc. will post 6.62 EPS for the current fiscal year.

Minerals Technologies Announces Dividend

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

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.

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