Nuveen LLC Purchases Shares of 521,903 Minerals Technologies Inc. $MTX

Key Points

• Nuveen LLC has acquired a new stake in Minerals Technologies Inc. (NYSE:MTX), purchasing 521,903 shares valued at approximately $33.18 million, which accounts for about 1.64% of the company's stock.
• In recent analyst reports, Truist Financial raised its price target for Minerals Technologies from $80.00 to $84.00 and classified the stock as a "buy."
• The company recently reported quarterly earnings of $1.55 per share, exceeding analysts' expectations; however, revenue decreased by 2.3% year-over-year, totaling $528.90 million.

Nuveen LLC purchased a new stake in shares of Minerals Technologies Inc. (NYSE:MTX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 521,903 shares of the basic materials company's stock, valued at approximately $33,177,000. Nuveen LLC owned approximately 1.64% of Minerals Technologies as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of MTX. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Minerals Technologies during the first quarter valued at approximately $4,429,000. Invesco Ltd. raised its stake in Minerals Technologies by 36.8% in the fourth quarter. Invesco Ltd. now owns 256,211 shares of the basic materials company's stock worth $19,526,000 after buying an additional 68,873 shares in the last quarter. Snyder Capital Management L P raised its stake in Minerals Technologies by 8.5% in the fourth quarter. Snyder Capital Management L P now owns 630,381 shares of the basic materials company's stock worth $48,041,000 after buying an additional 49,376 shares in the last quarter. Northern Trust Corp raised its stake in Minerals Technologies by 9.6% in the fourth quarter. Northern Trust Corp now owns 498,929 shares of the basic materials company's stock worth $38,023,000 after buying an additional 43,546 shares in the last quarter. Finally, Jefferies Financial Group Inc. bought a new position in Minerals Technologies in the fourth quarter worth approximately $3,078,000. Institutional investors own 97.29% of the company's stock.

Minerals Technologies Stock Performance

Shares of MTX traded up $2.8910 during trading hours on Friday, reaching $64.0210. 55,762 shares of the company traded hands, compared to its average volume of 238,385. The stock has a market capitalization of $2.01 billion, a P/E ratio of 1,060.43 and a beta of 1.22. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.57. Minerals Technologies Inc. has a 12-month low of $49.54 and a 12-month high of $86.49. The business has a fifty day moving average price of $58.07 and a 200-day moving average price of $60.66.

Minerals Technologies (NYSE:MTX - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.55 earnings per share for the quarter, beating analysts' consensus estimates of $1.43 by $0.12. The firm had revenue of $528.90 million for the quarter, compared to analyst estimates of $529.13 million. Minerals Technologies had a net margin of 0.10% and a return on equity of 10.64%. The business's quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.65 earnings per share. Equities analysts anticipate that Minerals Technologies Inc. will post 6.62 EPS for the current fiscal year.

Minerals Technologies Announces Dividend

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

Analyst Ratings Changes

MTX has been the subject of a number of recent research reports. Truist Financial boosted their price objective on shares of Minerals Technologies from $80.00 to $84.00 and gave the stock 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 data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $84.00.

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.