SG Americas Securities LLC increased its stake in shares of Minerals Technologies Inc. (NYSE:MTX - Free Report) by 341.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,394 shares of the basic materials company's stock after purchasing an additional 6,494 shares during the quarter. SG Americas Securities LLC's holdings in Minerals Technologies were worth $534,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Smartleaf Asset Management LLC boosted its stake in shares of Minerals Technologies by 181.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 506 shares of the basic materials company's stock valued at $38,000 after purchasing an additional 326 shares during the last quarter. Quarry LP raised its stake in shares of Minerals Technologies by 536.5% during the fourth quarter. Quarry LP now owns 732 shares of the basic materials company's stock worth $56,000 after buying an additional 617 shares during the last quarter. Venturi Wealth Management LLC acquired a new position in Minerals Technologies in the fourth quarter valued at approximately $78,000. Vestcor Inc bought a new position in Minerals Technologies in the fourth quarter valued at approximately $185,000. Finally, Inspire Advisors LLC bought a new position in Minerals Technologies in the fourth quarter valued at approximately $207,000. Institutional investors own 97.29% of the company's stock.
Analysts Set New Price Targets
Several analysts have commented on the stock. Truist Financial dropped their target price on shares of Minerals Technologies from $92.00 to $80.00 and set a "buy" rating for the company in a research report on Monday, April 28th. Wall Street Zen downgraded Minerals Technologies from a "buy" rating to a "hold" rating in a report on Wednesday, April 9th.
Read Our Latest Stock Analysis on MTX
Insiders Place Their Bets
In related news, CFO Erik Aldag purchased 1,000 shares of the business's stock in a transaction on Wednesday, April 30th. The shares were purchased at an average price of $50.37 per share, with a total value of $50,370.00. Following the completion of the purchase, the chief financial officer now owns 4,245 shares in the company, valued at $213,820.65. This represents a 30.82% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders acquired 2,370 shares of company stock worth $124,255 over the last ninety days. 3.30% of the stock is currently owned by corporate insiders.
Minerals Technologies Trading Up 2.4%
Shares of NYSE:MTX traded up $1.30 during mid-day trading on Thursday, reaching $55.72. The stock had a trading volume of 195,396 shares, compared to its average volume of 192,293. The firm has a 50 day simple moving average of $56.21 and a two-hundred day simple moving average of $65.58. Minerals Technologies Inc. has a twelve month low of $49.54 and a twelve month high of $90.30. The firm has a market cap of $1.77 billion, a PE ratio of -72.36 and a beta of 1.22. The company has a current ratio of 1.89, a quick ratio of 1.31 and a debt-to-equity ratio of 0.59.
Minerals Technologies (NYSE:MTX - Get Free Report) last posted its earnings results on Thursday, April 24th. The basic materials company reported $1.14 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.02). The firm had revenue of $491.80 million during the quarter, compared to analyst estimates of $502.03 million. Minerals Technologies had a positive return on equity of 10.90% and a negative net margin of 1.14%. The company's revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter last year, the business posted $1.49 earnings per share. On average, research analysts predict 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 Thursday, June 12th. Shareholders of record on Friday, May 30th were paid a $0.11 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.44 dividend on an annualized basis and a yield of 0.79%. Minerals Technologies's payout ratio is -57.14%.
About Minerals Technologies
(
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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