Minerals Technologies Inc. $MTX Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp reduced its stake in Minerals Technologies Inc. by 3.5% in the first quarter, owning approximately 1.52% of the company worth $30.6 million after selling 17,344 shares.
• Several institutional investors have increased their stakes significantly, with GAMMA Investing LLC raising its position by 15,381.2% in the same period.
• Minerals Technologies declared a quarterly dividend of $0.11 per share, with an annualized yield of 0.7%, set to be paid on September 5th.

Northern Trust Corp decreased its position in Minerals Technologies Inc. (NYSE:MTX - Free Report) by 3.5% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 481,585 shares of the basic materials company's stock after selling 17,344 shares during the period. Northern Trust Corp owned about 1.52% of Minerals Technologies worth $30,614,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. First Trust Advisors LP increased its stake in Minerals Technologies by 59.7% in the fourth quarter. First Trust Advisors LP now owns 30,567 shares of the basic materials company's stock valued at $2,330,000 after acquiring an additional 11,432 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Minerals Technologies by 2.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 70,632 shares of the basic materials company's stock worth $5,384,000 after purchasing an additional 1,649 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of Minerals Technologies during the 4th quarter worth approximately $683,000. Lido Advisors LLC raised its stake in shares of Minerals Technologies by 39.2% during the fourth quarter. Lido Advisors LLC now owns 3,660 shares of the basic materials company's stock valued at $279,000 after acquiring an additional 1,030 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in Minerals Technologies by 5.3% during the fourth quarter. AQR Capital Management LLC now owns 99,468 shares of the basic materials company's stock worth $7,580,000 after buying an additional 5,051 shares during the last quarter. Institutional investors and hedge funds own 97.29% of the company's stock.

Analysts Set New Price Targets

MTX has been the topic of a number of research analyst reports. Truist Financial boosted their target price on shares of Minerals Technologies from $80.00 to $84.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Wall Street Zen raised shares of Minerals Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $84.00.

Minerals Technologies Trading Up 0.5%

Shares of Minerals Technologies stock traded up $0.30 during trading on Friday, hitting $63.57. The stock had a trading volume of 30,036 shares, compared to its average volume of 237,662. The stock has a market cap of $1.99 billion, a PE ratio of 1,060.84 and a beta of 1.22. Minerals Technologies Inc. has a 12 month low of $49.54 and a 12 month high of $86.49. The firm's fifty day simple moving average is $60.12 and its 200-day simple moving average is $60.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.95 and a quick ratio of 1.35.

Minerals Technologies (NYSE:MTX - Get Free Report) last posted its earnings results on Thursday, July 24th. The basic materials company reported $1.55 EPS for the quarter, beating analysts' consensus estimates of $1.43 by $0.12. The business had revenue of $528.90 million for the quarter, compared to the consensus estimate of $529.13 million. Minerals Technologies had a net margin of 0.10% and a return on equity of 10.64%. The company's revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.65 EPS. As a group, sell-side analysts expect that Minerals Technologies Inc. will post 6.62 EPS for the current fiscal year.

Minerals Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 15th will be paid a $0.11 dividend. The ex-dividend date is Friday, August 15th. This represents a $0.44 dividend on an annualized basis and a yield of 0.7%. Minerals Technologies's payout ratio is currently 733.33%.

Minerals Technologies Company 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.