Victory Capital Management Inc. Sells 583,094 Shares of Minerals Technologies Inc. (NYSE:MTX)

Victory Capital Management Inc. decreased its position in shares of Minerals Technologies Inc. (NYSE:MTX - Free Report) by 67.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 280,146 shares of the basic materials company's stock after selling 583,094 shares during the period. Victory Capital Management Inc. owned about 0.88% of Minerals Technologies worth $17,809,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. QRG Capital Management Inc. increased its holdings in shares of Minerals Technologies by 7.3% during the first quarter. QRG Capital Management Inc. now owns 6,955 shares of the basic materials company's stock worth $442,000 after buying an additional 474 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Minerals Technologies by 15,381.2% during the first quarter. GAMMA Investing LLC now owns 13,159 shares of the basic materials company's stock worth $837,000 after buying an additional 13,074 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Minerals Technologies by 341.8% during the first quarter. SG Americas Securities LLC now owns 8,394 shares of the basic materials company's stock worth $534,000 after buying an additional 6,494 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Minerals Technologies by 2.6% during the first quarter. Principal Financial Group Inc. now owns 171,008 shares of the basic materials company's stock worth $10,871,000 after buying an additional 4,361 shares in the last quarter. Finally, Isthmus Partners LLC acquired a new stake in shares of Minerals Technologies during the first quarter worth approximately $1,279,000. Institutional investors and hedge funds own 97.29% of the company's stock.

Insider Buying and Selling

In other Minerals Technologies news, CFO Erik Aldag acquired 1,000 shares of Minerals Technologies stock in a transaction on Wednesday, April 30th. The shares were purchased at an average cost of $50.37 per share, with a total value of $50,370.00. Following the completion of the purchase, the chief financial officer owned 4,245 shares in the company, valued at $213,820.65. The trade was a 30.82% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kristina M. Johnson acquired 1,000 shares of Minerals Technologies stock in a transaction on Friday, May 2nd. The stock was acquired 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 owned 1,400 shares of the company's stock, valued at approximately $75,306. The trade was a 250.00% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 2,370 shares of company stock worth $124,255. Insiders own 3.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on MTX shares. 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 lowered 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.

Minerals Technologies Price Performance

Shares of Minerals Technologies stock traded up $6.34 during midday trading on Friday, reaching $65.54. The company had a trading volume of 607,399 shares, compared to its average volume of 264,005. 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 company has a market capitalization of $2.08 billion, a price-to-earnings ratio of 1,092.43 and a beta of 1.20. The stock has a fifty day simple moving average of $57.60 and a 200 day simple moving average of $62.77. Minerals Technologies Inc. has a 1-year low of $49.54 and a 1-year high of $87.92.

Minerals Technologies (NYSE:MTX - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.55 earnings per share for the quarter, beating analysts' consensus estimates of $1.43 by $0.12. Minerals Technologies had a net margin of 0.10% and a return on equity of 10.59%. The business had revenue of $528.90 million during the quarter, compared to analyst estimates of $529.13 million. During the same quarter last year, the business posted $1.65 earnings per share. Minerals Technologies's revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, equities research analysts forecast that Minerals Technologies Inc. will post 6.62 earnings per share for the current year.

Minerals Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 15th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.44 dividend on an annualized basis and a yield of 0.67%. Minerals Technologies's payout ratio is presently 733.33%.

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.