New York State Teachers Retirement System Has $2.09 Million Stock Position in Minerals Technologies Inc. (NYSE:MTX)

New York State Teachers Retirement System reduced its holdings in shares of Minerals Technologies Inc. (NYSE:MTX - Free Report) by 12.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 32,809 shares of the basic materials company's stock after selling 4,500 shares during the quarter. New York State Teachers Retirement System owned approximately 0.10% of Minerals Technologies worth $2,086,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in MTX. Smartleaf Asset Management LLC boosted its stake in Minerals Technologies by 181.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 506 shares of the basic materials company's stock valued at $38,000 after purchasing an additional 326 shares during the period. Quarry LP boosted its stake in Minerals Technologies by 536.5% in the 4th quarter. Quarry LP now owns 732 shares of the basic materials company's stock valued at $56,000 after purchasing an additional 617 shares during the period. Vestcor Inc bought a new stake in Minerals Technologies in the 4th quarter valued at $185,000. Inspire Advisors LLC bought a new stake in Minerals Technologies in the 4th quarter valued at $207,000. Finally, Cibc World Markets Corp bought a new stake in Minerals Technologies in the 4th quarter valued at $226,000. 97.29% of the stock is currently owned by institutional investors.

Minerals Technologies Price Performance

NYSE MTX traded up $0.91 during midday trading on Thursday, hitting $59.85. The company had a trading volume of 26,842 shares, compared to its average volume of 195,914. The company has a market capitalization of $1.90 billion, a PE ratio of -77.72 and a beta of 1.20. 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 firm has a 50-day moving average price of $56.75 and a 200-day moving average price of $64.15. Minerals Technologies Inc. has a twelve month low of $49.54 and a twelve month high of $90.30.

Minerals Technologies (NYSE:MTX - Get Free Report) last announced 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). The company had revenue of $491.80 million during the quarter, compared to analyst estimates of $502.03 million. Minerals Technologies had a negative net margin of 1.14% and a positive return on equity of 10.90%. Minerals Technologies's revenue was down 8.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.49 earnings per share. As a group, analysts anticipate that Minerals Technologies Inc. will post 6.62 earnings per share for the current fiscal year.

Minerals Technologies Announces Dividend

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

Insider Buying and Selling at Minerals Technologies

In related news, CFO Erik Aldag acquired 1,000 shares of the company's stock in a transaction on 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 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kristina M. Johnson purchased 1,000 shares of the stock in a transaction dated Friday, May 2nd. The shares were acquired at an average cost of $53.79 per share, with a total value of $53,790.00. Following the acquisition, the director directly owned 1,400 shares in the company, valued at $75,306. This represents a 250.00% increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 2,370 shares of company stock valued at $124,255 over the last ninety days. Insiders own 3.30% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Wall Street Zen downgraded Minerals Technologies from a "buy" rating to a "hold" rating in a research note 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 research note 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.