UBS Group AG Raises Holdings in Minerals Technologies Inc. $MTX

Key Points

• UBS Group AG increased its stake in Minerals Technologies by 49.5% in the fourth quarter, adding 12,761 shares and bringing its total to 38,541 shares valued at about $2.35 million.
• Minerals Technologies posted stronger-than-expected quarterly results, with EPS of $1.38 versus estimates of $1.26 and revenue of $546.9 million, up 11.2% year over year.
• Analysts remain mixed but generally cautious on the stock: the consensus rating is “Hold” with an average target price of $90, while the company also recently declared a quarterly dividend of $0.12 per share.

UBS Group AG grew its position in Minerals Technologies Inc. (NYSE:MTX - Free Report) by 49.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,541 shares of the basic materials company's stock after buying an additional 12,761 shares during the quarter. UBS Group AG owned 0.12% of Minerals Technologies worth $2,349,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Sanctuary Advisors LLC lifted its holdings in shares of Minerals Technologies by 8.4% in the 4th quarter. Sanctuary Advisors LLC now owns 5,067 shares of the basic materials company's stock worth $309,000 after buying an additional 394 shares during the period. First Horizon Corp lifted its holdings in shares of Minerals Technologies by 120.9% in the 4th quarter. First Horizon Corp now owns 1,228 shares of the basic materials company's stock worth $75,000 after buying an additional 672 shares during the period. Guidance Capital Inc. lifted its holdings in shares of Minerals Technologies by 4.4% in the 4th quarter. Guidance Capital Inc. now owns 8,838 shares of the basic materials company's stock worth $539,000 after buying an additional 370 shares during the period. Harbor Capital Advisors Inc. lifted its holdings in shares of Minerals Technologies by 20.4% in the 4th quarter. Harbor Capital Advisors Inc. now owns 14,014 shares of the basic materials company's stock worth $854,000 after buying an additional 2,370 shares during the period. Finally, Wedge Capital Management L L P NC lifted its holdings in shares of Minerals Technologies by 8.5% in the 4th quarter. Wedge Capital Management L L P NC now owns 24,278 shares of the basic materials company's stock worth $1,480,000 after buying an additional 1,905 shares during the period. 97.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Minerals Technologies

In related news, VP Timothy Jordan sold 6,000 shares of the company's stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $80.27, for a total transaction of $481,620.00. Following the transaction, the vice president directly owned 1,279 shares of the company's stock, valued at $102,665.33. This represents a 82.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 3.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Weiss Ratings upgraded Minerals Technologies from a "sell (d+)" rating to a "hold (c+)" rating in a report on Wednesday, May 6th. Wall Street Zen upgraded Minerals Technologies from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 2nd. Truist Financial upped their target price on Minerals Technologies from $89.00 to $90.00 and gave the stock a "buy" rating in a report on Monday, May 4th. Finally, Seaport Research Partners reiterated a "buy" rating on shares of Minerals Technologies in a report on Monday, May 4th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $90.00.

Minerals Technologies Trading Up 0.7%

Shares of NYSE:MTX opened at $78.69 on Thursday. The business's 50-day moving average is $73.15 and its 200 day moving average is $67.72. Minerals Technologies Inc. has a 1 year low of $53.10 and a 1 year high of $84.34. The firm has a market capitalization of $2.44 billion, a P/E ratio of 15.22 and a beta of 1.12. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.13 and a quick ratio of 1.47.

Minerals Technologies (NYSE:MTX - Get Free Report) last announced its earnings results on Thursday, April 30th. The basic materials company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.12. Minerals Technologies had a return on equity of 10.40% and a net margin of 7.60%.The company had revenue of $546.90 million for the quarter, compared to analyst estimates of $516.39 million. During the same period in the prior year, the company posted $1.14 EPS. The firm's quarterly revenue was up 11.2% compared to the same quarter last year. On average, research analysts predict that Minerals Technologies Inc. will post 6.33 earnings per share for the current fiscal year.

Minerals Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Tuesday, June 2nd will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Tuesday, June 2nd. Minerals Technologies's dividend payout ratio is currently 9.28%.

About Minerals Technologies

Minerals Technologies Inc develops, produces and processes a broad range of mineral-based products and solutions that serve a variety of industrial applications. Its offerings include bentonite, perlite, precipitated calcium carbonate (PCC), mineral sands, foundry additives, performance minerals and specialty chemicals designed to enhance performance in markets such as paper, steel, construction, oil and gas, environmental remediation and consumer products.

The company operates through several business segments, including Specialty Minerals, Refractory Minerals, Performance Materials and Recycled Materials.

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