Petrus Trust Company LTA Acquires New Shares in Minerals Technologies Inc. $MTX

Petrus Trust Company LTA acquired a new stake in shares of Minerals Technologies Inc. (NYSE:MTX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 7,044 shares of the basic materials company's stock, valued at approximately $448,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quarry LP boosted its position in Minerals Technologies by 105.3% during the 1st quarter. Quarry LP now owns 1,503 shares of the basic materials company's stock valued at $96,000 after purchasing an additional 771 shares during the period. Quantbot Technologies LP acquired a new position in Minerals Technologies during the 1st quarter valued at approximately $124,000. State of Wyoming boosted its position in Minerals Technologies by 11.5% during the 1st quarter. State of Wyoming now owns 2,684 shares of the basic materials company's stock valued at $171,000 after purchasing an additional 277 shares during the period. PharVision Advisers LLC acquired a new position in Minerals Technologies during the 4th quarter valued at approximately $236,000. Finally, EP Wealth Advisors LLC boosted its position in Minerals Technologies by 12.1% during the 4th quarter. EP Wealth Advisors LLC now owns 3,907 shares of the basic materials company's stock valued at $298,000 after purchasing an additional 421 shares during the period. Institutional investors and hedge funds own 97.29% of the company's stock.

Minerals Technologies Trading Up 1.2%

Shares of MTX stock opened at $64.03 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.35 and a current ratio of 1.95. Minerals Technologies Inc. has a 1 year low of $49.54 and a 1 year high of $86.49. The stock has a fifty day moving average of $60.28 and a two-hundred day moving average of $59.80. The firm has a market capitalization of $2.01 billion, a PE ratio of 1,067.41 and a beta of 1.22.

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

Minerals Technologies Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MTX. Wall Street Zen upgraded Minerals Technologies from a "buy" rating to a "strong-buy" rating in a research report on Friday. Truist Financial boosted their price target on Minerals Technologies from $80.00 to $84.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $84.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.