Vest Financial LLC Decreases Stock Holdings in Minerals Technologies Inc. $MTX

Key Points

• Vest Financial LLC cut its stake in Minerals Technologies by 42% in Q4, selling 14,284 shares and finishing the quarter with 19,748 shares worth $1.204 million, while institutional investors hold about 97.29% of the stock.
• Minerals Technologies beat quarterly estimates with EPS of $1.38 (vs. $1.26 expected) and revenue of $546.9 million (up 11.2% YoY), though the company reported a slightly negative net margin (-0.89%).
• Analyst coverage is mixed: the consensus rating is a "Hold" with an average price target of $89, while the stock trades around $71.85 and has a market cap of roughly $2.23 billion.

Vest Financial LLC reduced its holdings in shares of Minerals Technologies Inc. (NYSE:MTX - Free Report) by 42.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,748 shares of the basic materials company's stock after selling 14,284 shares during the quarter. Vest Financial LLC owned 0.06% of Minerals Technologies worth $1,204,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. First Horizon Corp purchased a new stake in Minerals Technologies during the third quarter worth approximately $35,000. EverSource Wealth Advisors LLC boosted its stake in shares of Minerals Technologies by 626.8% in the second quarter. EverSource Wealth Advisors LLC now owns 596 shares of the basic materials company's stock valued at $33,000 after purchasing an additional 514 shares during the period. Torren Management LLC purchased a new position in shares of Minerals Technologies in the fourth quarter valued at $50,000. Danske Bank A S purchased a new position in shares of Minerals Technologies in the third quarter valued at $56,000. Finally, Strs Ohio purchased a new position in shares of Minerals Technologies in the first quarter valued at $70,000. 97.29% of the stock is currently owned by hedge funds and other institutional investors.

Minerals Technologies Trading Up 2.0%

NYSE:MTX opened at $71.85 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.45 and a current ratio of 2.08. Minerals Technologies Inc. has a one year low of $51.03 and a one year high of $75.29. The business's 50-day simple moving average is $70.26 and its 200 day simple moving average is $65.23. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of -140.88 and a beta of 1.19.

Minerals Technologies (NYSE:MTX - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The basic materials company reported $1.38 EPS for the quarter, beating analysts' consensus estimates of $1.26 by $0.12. Minerals Technologies had a negative net margin of 0.89% and a positive return on equity of 10.22%. The firm had revenue of $546.90 million for the quarter, compared to the consensus estimate of $516.39 million. During the same period in the prior year, the firm posted $1.14 EPS. The firm's revenue was up 11.2% compared to the same quarter last year. As a group, sell-side analysts predict that Minerals Technologies Inc. will post 6.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MTX has been the subject of several analyst reports. Truist Financial upped their target price on shares of Minerals Technologies from $84.00 to $89.00 and gave the company a "buy" rating in a research note on Monday, February 2nd. Zacks Research upgraded shares of Minerals Technologies from a "strong sell" rating to a "hold" rating in a research note on Wednesday, January 14th. Wall Street Zen downgraded shares of Minerals Technologies from a "strong-buy" rating to a "buy" rating in a research note on Saturday, April 18th. Finally, Weiss Ratings reiterated a "sell (d+)" rating on shares of Minerals Technologies in a research note on Wednesday, April 22nd. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Minerals Technologies has a consensus rating of "Hold" and an average price target of $89.00.

Minerals Technologies Company Profile

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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