Principal Financial Group Inc. Has $10.87 Million Position in Minerals Technologies Inc. (NYSE:MTX)

Principal Financial Group Inc. lifted its holdings in shares of Minerals Technologies Inc. (NYSE:MTX - Free Report) by 2.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 171,008 shares of the basic materials company's stock after acquiring an additional 4,361 shares during the quarter. Principal Financial Group Inc. owned approximately 0.54% of Minerals Technologies worth $10,871,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in MTX. Quarry LP raised its position in shares of Minerals Technologies by 536.5% in the fourth quarter. Quarry LP now owns 732 shares of the basic materials company's stock valued at $56,000 after purchasing an additional 617 shares during the period. Vestcor Inc bought a new position in shares of Minerals Technologies in the fourth quarter valued at about $185,000. Cibc World Markets Corp bought a new position in shares of Minerals Technologies in the fourth quarter valued at about $226,000. PharVision Advisers LLC bought a new position in shares of Minerals Technologies in the fourth quarter valued at about $236,000. Finally, Sterling Capital Management LLC raised its position in shares of Minerals Technologies by 32.9% in the fourth quarter. Sterling Capital Management LLC now owns 3,589 shares of the basic materials company's stock valued at $274,000 after purchasing an additional 888 shares during the period. 97.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MTX. Wall Street Zen lowered shares of Minerals Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday, April 9th. Truist Financial dropped their price objective on shares of Minerals Technologies from $92.00 to $80.00 and set a "buy" rating on the stock in a research report on Monday, April 28th.

Minerals Technologies Stock Performance

NYSE:MTX traded up $0.46 during mid-day trading on Thursday, reaching $57.51. 312,396 shares of the company's stock were exchanged, compared to its average volume of 197,678. Minerals Technologies Inc. has a one year low of $49.54 and a one year high of $90.30. The firm has a market capitalization of $1.82 billion, a PE ratio of -74.69 and a beta of 1.20. The business's fifty day simple moving average is $57.36 and its two-hundred day simple moving average is $63.39. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.31 and a current ratio of 1.89.

Minerals Technologies (NYSE:MTX - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The basic materials company reported $1.14 EPS for the quarter, missing analysts' consensus estimates of $1.16 by ($0.02). Minerals Technologies had a positive return on equity of 10.90% and a negative net margin of 1.14%. The business had revenue of $491.80 million for the quarter, compared to the consensus estimate of $502.03 million. During the same period in the prior year, the business posted $1.49 earnings per share. Minerals Technologies's revenue was down 8.0% compared to the same quarter last year. Analysts anticipate that Minerals Technologies Inc. will post 6.62 earnings per share for the current fiscal year.

Minerals Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 15th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date is Friday, August 15th. Minerals Technologies's dividend payout ratio is -57.14%.

Insider Transactions at Minerals Technologies

In other Minerals Technologies news, CFO Erik Aldag purchased 1,000 shares of the stock in a transaction that occurred on Wednesday, April 30th. The shares were acquired at an average cost of $50.37 per share, with a total value of $50,370.00. Following the completion of the transaction, the chief financial officer owned 4,245 shares in the company, valued at $213,820.65. The trade was a 30.82% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kristina M. Johnson acquired 1,000 shares of Minerals Technologies stock in a transaction on Friday, May 2nd. The shares were purchased at an average price of $53.79 per share, for a total transaction of $53,790.00. Following the completion of the purchase, the director directly owned 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 disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 2,370 shares of company stock worth $124,255. 3.30% of the stock is owned by insiders.

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.