Minerals Technologies Inc. (NYSE:MTX) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC lowered its holdings in Minerals Technologies Inc. (NYSE:MTX - Free Report) by 18.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 528,766 shares of the basic materials company's stock after selling 119,761 shares during the period. Nuveen Asset Management LLC owned approximately 1.66% of Minerals Technologies worth $40,297,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC grew its stake in shares of Minerals Technologies by 181.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 506 shares of the basic materials company's stock worth $38,000 after acquiring an additional 326 shares in the last quarter. Quarry LP increased its holdings in Minerals Technologies by 536.5% during the 4th quarter. Quarry LP now owns 732 shares of the basic materials company's stock worth $56,000 after purchasing an additional 617 shares during the period. Blue Trust Inc. raised its position in Minerals Technologies by 21.4% in the 4th quarter. Blue Trust Inc. now owns 1,009 shares of the basic materials company's stock valued at $78,000 after purchasing an additional 178 shares in the last quarter. Venturi Wealth Management LLC acquired a new stake in Minerals Technologies in the 4th quarter valued at about $78,000. Finally, KBC Group NV boosted its stake in shares of Minerals Technologies by 43.9% in the 4th quarter. KBC Group NV now owns 1,478 shares of the basic materials company's stock valued at $113,000 after buying an additional 451 shares during the period. 97.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MTX has been the subject of a number of recent research reports. Truist Financial decreased their price target on shares of Minerals Technologies from $92.00 to $80.00 and set a "buy" rating for the company in a research note on Monday, April 28th. Wall Street Zen cut shares of Minerals Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday, April 9th.

Insider Buying and Selling at Minerals Technologies

In other Minerals Technologies news, Director Kristina M. Johnson bought 1,000 shares of Minerals Technologies stock in a transaction dated Friday, May 2nd. The stock was acquired at an average cost of $53.79 per share, with a total value of $53,790.00. Following the completion of the acquisition, the director now owns 1,400 shares of the company's stock, valued at approximately $75,306. This represents a 250.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.30% of the stock is owned by company insiders.

Minerals Technologies Stock Down 0.8%

Minerals Technologies stock traded down $0.49 during mid-day trading on Monday, hitting $58.28. The company had a trading volume of 263,928 shares, compared to its average volume of 187,465. The company has a quick ratio of 1.98, a current ratio of 2.84 and a debt-to-equity ratio of 0.54. Minerals Technologies Inc. has a 1 year low of $49.54 and a 1 year high of $90.30. The business has a fifty day moving average of $58.02 and a 200 day moving average of $69.41. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of 11.25 and a beta of 1.22.

Minerals Technologies (NYSE:MTX - Get Free Report) last issued 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). Minerals Technologies had a net margin of 7.89% and a return on equity of 11.49%. The company had revenue of $491.80 million during the quarter, compared to analyst estimates of $502.03 million. During the same quarter in the previous year, the company posted $1.49 EPS. The company's quarterly revenue was down 8.0% on a year-over-year basis. On average, sell-side analysts expect that Minerals Technologies Inc. will post 6.62 earnings per share for the current fiscal year.

Minerals Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 30th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend is Friday, May 30th. Minerals Technologies's dividend payout ratio (DPR) is -57.14%.

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.