MQS Management LLC Makes New $455,000 Investment in Minerals Technologies Inc. (NYSE:MTX)

MQS Management LLC bought a new position in Minerals Technologies Inc. (NYSE:MTX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 7,164 shares of the basic materials company's stock, valued at approximately $455,000.

Several other hedge funds and other institutional investors have also bought and sold shares of MTX. Proficio Capital Partners LLC purchased a new stake in Minerals Technologies in the fourth quarter worth approximately $2,451,000. Raymond James Financial Inc. bought a new position in Minerals Technologies in the fourth quarter worth $10,797,000. Amundi raised its holdings in Minerals Technologies by 189.5% in the fourth quarter. Amundi now owns 16,704 shares of the basic materials company's stock worth $1,224,000 after purchasing an additional 10,934 shares in the last quarter. HighTower Advisors LLC raised its holdings in Minerals Technologies by 602.4% in the fourth quarter. HighTower Advisors LLC now owns 27,877 shares of the basic materials company's stock worth $2,125,000 after purchasing an additional 23,908 shares in the last quarter. Finally, Swiss National Bank raised its holdings in Minerals Technologies by 0.6% in the fourth quarter. Swiss National Bank now owns 63,300 shares of the basic materials company's stock worth $4,824,000 after purchasing an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 97.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on MTX shares. Wall Street Zen downgraded Minerals Technologies from a "buy" rating to a "hold" rating in a report on Wednesday, April 9th. Truist Financial reduced their price target 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

NYSE MTX traded up $0.46 during trading hours on Thursday, hitting $57.51. The company's stock had a trading volume of 312,396 shares, compared to its average volume of 197,678. Minerals Technologies Inc. has a 12 month low of $49.54 and a 12 month high of $90.30. The company's 50 day simple moving average is $57.36 and its two-hundred day simple moving average is $63.39. The company has a market cap of $1.82 billion, a P/E ratio of -74.69 and a beta of 1.20. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.89 and a quick ratio of 1.31.

Minerals Technologies (NYSE:MTX - Get Free Report) last released its quarterly earnings data 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 positive return on equity of 10.90% and a negative net margin of 1.14%. The business had revenue of $491.80 million during the quarter, compared to the consensus estimate of $502.03 million. During the same quarter in the previous year, the business posted $1.49 earnings per share. Minerals Technologies's quarterly revenue was down 8.0% compared to the same quarter last year. As a group, sell-side analysts expect that Minerals Technologies Inc. will post 6.62 EPS for the current fiscal year.

Minerals Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 15th will be given a $0.11 dividend. The ex-dividend date is Friday, August 15th. This represents a $0.44 annualized dividend and a yield of 0.77%. Minerals Technologies's payout ratio is -57.14%.

Insider Activity

In other news, CFO Erik Aldag bought 1,000 shares of the company's stock in a transaction on Wednesday, April 30th. The shares were acquired at an average cost of $50.37 per share, with a total value of $50,370.00. Following the completion of the transaction, the chief financial officer owned 4,245 shares of the company's stock, valued at approximately $213,820.65. This trade represents a 30.82% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kristina M. Johnson bought 1,000 shares of the company's stock in a transaction on Friday, May 2nd. The stock was purchased at an average cost of $53.79 per share, for a total transaction of $53,790.00. Following the completion of the transaction, the director directly 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. Insiders acquired 2,370 shares of company stock worth $124,255 over the last three months. Insiders own 3.30% of the company's stock.

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.