Squarepoint Ops LLC Lowers Stock Holdings in Minerals Technologies Inc. (NYSE:MTX)

Squarepoint Ops LLC cut its position in Minerals Technologies Inc. (NYSE:MTX - Free Report) by 57.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,335 shares of the basic materials company's stock after selling 5,741 shares during the quarter. Squarepoint Ops LLC's holdings in Minerals Technologies were worth $330,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Smartleaf Asset Management LLC lifted its position in Minerals Technologies by 181.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 506 shares of the basic materials company's stock worth $38,000 after acquiring an additional 326 shares during the period. Quarry LP lifted its position in Minerals Technologies by 536.5% during the 4th quarter. Quarry LP now owns 732 shares of the basic materials company's stock worth $56,000 after acquiring an additional 617 shares during the period. Venturi Wealth Management LLC acquired a new stake in Minerals Technologies during the 4th quarter worth approximately $78,000. Blue Trust Inc. lifted its position 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 during the period. Finally, KBC Group NV lifted its position 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 during the period. 97.29% of the stock is owned by institutional investors and hedge funds.

Minerals Technologies Stock Performance

Shares of MTX stock traded up $1.05 during trading hours on Tuesday, reaching $60.30. 221,395 shares of the company's stock were exchanged, compared to its average volume of 188,645. The company has a market cap of $1.91 billion, a P/E ratio of 11.64 and a beta of 1.22. The company's 50 day moving average is $56.48 and its two-hundred day moving average is $67.60. Minerals Technologies Inc. has a 1 year low of $49.54 and a 1 year high of $90.30. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.84 and a quick ratio of 1.98.

Minerals Technologies (NYSE:MTX - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The basic materials company reported $1.14 earnings per share 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 firm had revenue of $491.80 million during the quarter, compared to analysts' expectations of $502.03 million. During the same period in the previous year, the business earned $1.49 earnings per share. The business's revenue for the quarter was down 8.0% on a year-over-year basis. Equities research analysts anticipate 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 paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.73%. The ex-dividend date is Friday, May 30th. Minerals Technologies's payout ratio is currently -57.14%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on MTX shares. Wall Street Zen cut Minerals Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday, April 9th. Truist Financial cut their target price on Minerals Technologies from $92.00 to $80.00 and set a "buy" rating for the company in a research note on Monday, April 28th.

Insider Activity at Minerals Technologies

In related news, Director Kristina M. Johnson purchased 1,000 shares of the company's stock in a transaction on Friday, May 2nd. The stock was bought at an average price of $53.79 per share, with a total value of $53,790.00. Following the completion of the transaction, the director now owns 1,400 shares of the company's stock, valued at approximately $75,306. This represents a 250.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.30% of the stock is currently owned by company insiders.

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.