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) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 7,164 shares of the basic materials company's stock, valued at approximately $455,000.

Other large investors have also added to or reduced their stakes in the company. FMR LLC raised its stake 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 worth $134,276,000 after purchasing an additional 527,206 shares during the last quarter. Norges Bank bought a new stake in Minerals Technologies during the fourth quarter worth $16,360,000. American Century Companies Inc. raised its position in Minerals Technologies by 31.1% in the 4th quarter. American Century Companies Inc. now owns 861,173 shares of the basic materials company's stock valued at $65,630,000 after buying an additional 204,371 shares during the last quarter. Raymond James Financial Inc. bought a new position in Minerals Technologies during the 4th quarter valued at $10,797,000. Finally, Foundry Partners LLC purchased a new position in Minerals Technologies during the 4th quarter worth $7,735,000. Institutional investors own 97.29% of the company's stock.

Minerals Technologies Stock Performance

Minerals Technologies stock traded down $0.50 during mid-day trading on Monday, reaching $58.69. 158,060 shares of the company's stock were exchanged, compared to its average volume of 233,292. The business's fifty day simple moving average is $57.01 and its 200 day simple moving average is $63.73. The company has a quick ratio of 1.31, a current ratio of 1.89 and a debt-to-equity ratio of 0.59. Minerals Technologies Inc. has a one year low of $49.54 and a one year high of $90.29. The firm has a market capitalization of $1.86 billion, a PE ratio of -76.21 and a beta of 1.20.

Minerals Technologies (NYSE:MTX - Get Free Report) last announced its earnings results on Thursday, April 24th. The basic materials company reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.02). The business had revenue of $491.80 million for the quarter, compared to analysts' expectations of $502.03 million. Minerals Technologies had a negative net margin of 1.14% and a positive return on equity of 10.90%. The company's revenue for the quarter was down 8.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.49 earnings per share. On average, sell-side analysts expect that Minerals Technologies Inc. will post 6.62 earnings per share for the current year.

Minerals Technologies Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have recently commented on MTX shares. Truist Financial lowered their target price 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. Wall Street Zen lowered shares of Minerals Technologies from a "buy" rating to a "hold" rating in a research note on Wednesday, April 9th.

Insider Activity

In related news, CFO Erik Aldag bought 1,000 shares of Minerals Technologies stock in a transaction dated Wednesday, April 30th. The stock was purchased at an average cost of $50.37 per share, with a total value of $50,370.00. Following the transaction, the chief financial officer directly owned 4,245 shares of the company's stock, valued at approximately $213,820.65. The trade was a 30.82% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kristina M. Johnson purchased 1,000 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was bought at an average cost of $53.79 per share, for a total transaction of $53,790.00. Following the acquisition, 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 disclosure for this purchase can be found here. In the last ninety days, insiders acquired 2,370 shares of company stock worth $124,255. Insiders own 3.50% 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.