Vest Financial LLC Purchases Shares of 23,202 Minerals Technologies Inc. (NYSE:MTX)

Vest Financial LLC bought a new position in Minerals Technologies Inc. (NYSE:MTX - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The fund bought 23,202 shares of the basic materials company's stock, valued at approximately $1,475,000. Vest Financial LLC owned about 0.07% of Minerals Technologies as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in MTX. FMR LLC boosted its stake in shares of Minerals Technologies by 42.7% during the 4th quarter. FMR LLC now owns 1,761,925 shares of the basic materials company's stock worth $134,276,000 after purchasing an additional 527,206 shares during the period. Geode Capital Management LLC lifted its position in shares of Minerals Technologies by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 873,123 shares of the basic materials company's stock worth $66,554,000 after purchasing an additional 7,780 shares during the period. American Century Companies Inc. raised its stake in shares of Minerals Technologies by 31.1% during the 4th quarter. American Century Companies Inc. now owns 861,173 shares of the basic materials company's stock worth $65,630,000 after acquiring an additional 204,371 shares in the last quarter. Snyder Capital Management L P raised its stake in shares of Minerals Technologies by 8.5% during the 4th quarter. Snyder Capital Management L P now owns 630,381 shares of the basic materials company's stock worth $48,041,000 after acquiring an additional 49,376 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Minerals Technologies by 0.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 555,157 shares of the basic materials company's stock worth $42,309,000 after acquiring an additional 2,647 shares in the last quarter. 97.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Kristina M. Johnson purchased 1,000 shares of the company's stock in a transaction on Friday, May 2nd. The stock was acquired at an average cost of $53.79 per share, for a total transaction of $53,790.00. Following the completion of the transaction, the director now directly owns 1,400 shares in the company, valued at approximately $75,306. The trade was a 250.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 3.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on MTX shares. Truist Financial cut their price target on shares of Minerals Technologies from $92.00 to $80.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. Wall Street Zen lowered shares of Minerals Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday, April 9th.

Minerals Technologies Stock Performance

MTX opened at $57.70 on Friday. The company has a quick ratio of 1.98, a current ratio of 2.84 and a debt-to-equity ratio of 0.54. The company has a market cap of $1.83 billion, a price-to-earnings ratio of 11.14 and a beta of 1.22. Minerals Technologies Inc. has a 52-week low of $49.54 and a 52-week high of $90.30. The firm's fifty day simple moving average is $56.56 and its two-hundred day simple moving average is $67.87.

Minerals Technologies (NYSE:MTX - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The basic materials company reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.02). The company had revenue of $491.80 million for the quarter, compared to analysts' expectations of $502.03 million. Minerals Technologies had a net margin of 7.89% and a return on equity of 11.49%. The business's revenue for the quarter was down 8.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.49 earnings per share. Equities analysts anticipate that Minerals Technologies Inc. will post 6.62 earnings per share for the current fiscal year.

Minerals Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 30th will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend is Friday, May 30th. Minerals Technologies's dividend payout ratio is currently -57.14%.

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.

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