New York State Teachers Retirement System Decreases Stock Holdings in Minerals Technologies Inc. (NYSE:MTX)

New York State Teachers Retirement System lowered its stake in shares of Minerals Technologies Inc. (NYSE:MTX - Free Report) by 12.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,809 shares of the basic materials company's stock after selling 4,500 shares during the period. New York State Teachers Retirement System owned about 0.10% of Minerals Technologies worth $2,086,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. QRG Capital Management Inc. boosted its holdings in 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 lifted its holdings in shares of Minerals Technologies by 15,381.2% in the first quarter. GAMMA Investing LLC now owns 13,159 shares of the basic materials company's stock valued at $837,000 after purchasing an additional 13,074 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Minerals Technologies by 341.8% in the first quarter. SG Americas Securities LLC now owns 8,394 shares of the basic materials company's stock valued at $534,000 after purchasing an additional 6,494 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Minerals Technologies by 6.3% in the first 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 in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Minerals Technologies by 29.2% in the first quarter. Assenagon Asset Management S.A. now owns 20,261 shares of the basic materials company's stock valued at $1,288,000 after purchasing an additional 4,584 shares in the last quarter. Hedge funds and other institutional investors own 97.29% of the company's stock.

Insider Buying and Selling at Minerals Technologies

In other Minerals Technologies news, Director Kristina M. Johnson acquired 1,000 shares of the firm'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 completion of the acquisition, the director directly owned 1,400 shares of the company's stock, valued at $75,306. This trade represents a 250.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Erik Aldag acquired 1,000 shares of the firm's stock in a transaction dated Wednesday, April 30th. The shares were acquired at an average price of $50.37 per share, for a total transaction of $50,370.00. Following the acquisition, 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 disclosure for this purchase can be found here. Insiders have bought 2,370 shares of company stock worth $124,255 in the last 90 days. Insiders own 3.30% of the company's stock.

Minerals Technologies Trading Down 0.8%

Shares of MTX stock traded down $0.46 during mid-day trading on Friday, hitting $59.20. 175,434 shares of the company's stock were exchanged, compared to its average volume of 196,903. Minerals Technologies Inc. has a fifty-two week low of $49.54 and a fifty-two week high of $90.30. The stock has a 50-day simple moving average of $57.01 and a two-hundred day simple moving average of $63.92. The company has a quick ratio of 1.31, a current ratio of 1.89 and a debt-to-equity ratio of 0.59. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of -76.88 and a beta of 1.20.

Minerals Technologies (NYSE:MTX - Get Free Report) last posted its quarterly earnings data 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). 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 for the quarter, compared to analyst estimates of $502.03 million. During the same quarter last year, the business earned $1.49 EPS. Minerals Technologies's revenue for the quarter was down 8.0% compared to the same quarter last year. Equities analysts expect that Minerals Technologies Inc. will post 6.62 EPS for the current fiscal year.

Minerals Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 30th were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.74%. The ex-dividend date was Friday, May 30th. Minerals Technologies's dividend payout ratio (DPR) is -57.14%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on MTX shares. Wall Street Zen downgraded shares of Minerals Technologies from a "buy" rating to a "hold" rating in a report on Wednesday, April 9th. Truist Financial decreased their target price on shares of Minerals Technologies from $92.00 to $80.00 and set a "buy" rating on the stock in a research report on Monday, April 28th.

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.