Petrus Trust Company LTA purchased a new stake in Minerals Technologies Inc. (NYSE:MTX - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 7,044 shares of the basic materials company's stock, valued at approximately $448,000.
Other large investors have also added to or reduced their stakes in the company. QRG Capital Management Inc. lifted its position in Minerals Technologies by 7.3% in the 1st quarter. QRG Capital Management Inc. now owns 6,955 shares of the basic materials company's stock valued at $442,000 after acquiring an additional 474 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Minerals Technologies by 15,381.2% in the 1st quarter. GAMMA Investing LLC now owns 13,159 shares of the basic materials company's stock worth $837,000 after buying an additional 13,074 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Minerals Technologies by 341.8% in the 1st quarter. SG Americas Securities LLC now owns 8,394 shares of the basic materials company's stock worth $534,000 after buying an additional 6,494 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Minerals Technologies by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 171,008 shares of the basic materials company's stock worth $10,871,000 after buying an additional 4,361 shares during the last quarter. Finally, Isthmus Partners LLC purchased a new position in shares of Minerals Technologies in the 1st quarter worth approximately $1,279,000. Institutional investors own 97.29% of the company's stock.
Minerals Technologies Stock Performance
Shares of NYSE:MTX traded down $1.28 during mid-day trading on Friday, reaching $63.72. The company had a trading volume of 166,711 shares, compared to its average volume of 216,688. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.57. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of 1,062.11 and a beta of 1.22. The company's 50-day moving average price is $60.87 and its 200-day moving average price is $59.66. Minerals Technologies Inc. has a one year low of $49.54 and a one year high of $86.49.
Minerals Technologies (NYSE:MTX - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.55 EPS for the quarter, topping analysts' consensus estimates of $1.43 by $0.12. Minerals Technologies had a net margin of 0.10% and a return on equity of 10.64%. The company had revenue of $528.90 million for the quarter, compared to analysts' expectations of $529.13 million. During the same quarter in the previous year, the firm posted $1.65 EPS. Minerals Technologies's revenue was down 2.3% on a year-over-year basis. As a group, equities research analysts anticipate that Minerals Technologies Inc. will post 6.62 EPS for the current fiscal year.
Minerals Technologies Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 15th were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was 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 presently 733.33%.
Analyst Ratings Changes
A number of brokerages have recently weighed in on MTX. Truist Financial boosted their target price on 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 downgraded Minerals Technologies from a "strong-buy" rating to a "buy" rating in a research note on Saturday. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Minerals Technologies has an average rating of "Buy" and an average target price of $84.00.
View Our Latest Stock Analysis on MTX
Minerals Technologies Profile
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Free Report)
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.
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