Trexquant Investment LP Buys 12,945 Shares of Minerals Technologies Inc. $MTX

Key Points

• Trexquant Investment LP has increased its stake in Minerals Technologies Inc. by 29.7%, acquiring a total of 56,500 shares worth approximately $3.59 million.
• The company announced a quarterly dividend of $0.11, which will result in an annualized yield of 0.7% and has a high dividend payout ratio of 733.33%.
• Minerals Technologies reported a quarterly earnings per share of $1.55, exceeding the consensus estimate, and has a consensus rating of "Buy" with a target price of $84.00 from analysts.

Trexquant Investment LP raised its holdings in Minerals Technologies Inc. (NYSE:MTX - Free Report) by 29.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,500 shares of the basic materials company's stock after buying an additional 12,945 shares during the period. Trexquant Investment LP owned about 0.18% of Minerals Technologies worth $3,592,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Balyasny Asset Management L.P. raised its stake in Minerals Technologies by 4.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 5,312 shares of the basic materials company's stock valued at $405,000 after buying an additional 235 shares during the period. EP Wealth Advisors LLC raised its stake in Minerals Technologies by 12.1% in the fourth quarter. EP Wealth Advisors LLC now owns 3,907 shares of the basic materials company's stock valued at $298,000 after buying an additional 421 shares during the period. Hsbc Holdings PLC raised its stake in Minerals Technologies by 9.2% in the first quarter. Hsbc Holdings PLC now owns 5,116 shares of the basic materials company's stock valued at $325,000 after buying an additional 431 shares during the period. QRG Capital Management Inc. grew its position in shares of Minerals Technologies by 7.3% in the first quarter. QRG Capital Management Inc. now owns 6,955 shares of the basic materials company's stock valued at $442,000 after purchasing an additional 474 shares during the last quarter. Finally, Aufman Associates Inc grew its position in shares of Minerals Technologies by 2.8% in the first quarter. Aufman Associates Inc now owns 37,004 shares of the basic materials company's stock valued at $2,352,000 after purchasing an additional 1,007 shares during the last quarter. Institutional investors own 97.29% of the company's stock.

Minerals Technologies Stock Down 1.1%

Shares of MTX traded down $0.73 during trading hours on Monday, hitting $63.39. The stock had a trading volume of 23,083 shares, compared to its average volume of 237,459. The firm has a market capitalization of $1.99 billion, a P/E ratio of 1,059.26 and a beta of 1.22. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.95 and a quick ratio of 1.35. Minerals Technologies Inc. has a 1-year low of $49.54 and a 1-year high of $86.49. The firm has a 50 day simple moving average of $60.28 and a 200-day simple moving average of $59.80.

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

Minerals Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 15th were paid a dividend of $0.11 per share. The ex-dividend date 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 733.33%.

Analyst Ratings Changes

Several equities analysts have recently commented on MTX shares. Wall Street Zen raised Minerals Technologies from a "buy" rating to a "strong-buy" rating in a research report on Friday. Truist Financial raised their target price on Minerals Technologies from $80.00 to $84.00 and gave the company a "buy" rating in a report on Monday, July 28th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Minerals Technologies has a consensus rating of "Buy" and a consensus target price of $84.00.

About Minerals Technologies

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.