Vest Financial LLC Raises Position in Minerals Technologies Inc. $MTX

Key Points

• Vest Financial LLC increased its stake in Minerals Technologies Inc. by 24.9%, owning 28,981 shares worth approximately $1.6 million as of the latest SEC filing.
• A variety of institutional investors have significantly adjusted their holdings in Minerals Technologies, with notable increases including a 177.6% stake boost by Jane Street Group LLC.
• Minerals Technologies has recently reported a net margin of just 0.10% and an estimated earnings per share (EPS) of $6.62 for the current fiscal year, amidst analysts' mixed ratings and target price adjustments.

Vest Financial LLC boosted its position in Minerals Technologies Inc. (NYSE:MTX - Free Report) by 24.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 28,981 shares of the basic materials company's stock after acquiring an additional 5,779 shares during the period. Vest Financial LLC owned 0.09% of Minerals Technologies worth $1,596,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in MTX. Nuveen LLC bought a new stake in Minerals Technologies in the 1st quarter worth $33,177,000. American Century Companies Inc. grew its holdings in Minerals Technologies by 24.0% in the 1st quarter. American Century Companies Inc. now owns 1,068,079 shares of the basic materials company's stock worth $67,898,000 after acquiring an additional 206,906 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Minerals Technologies in the 1st quarter worth $4,429,000. Jane Street Group LLC boosted its stake in shares of Minerals Technologies by 177.6% during the 1st quarter. Jane Street Group LLC now owns 68,156 shares of the basic materials company's stock valued at $4,333,000 after purchasing an additional 43,604 shares in the last quarter. Finally, Cubist Systematic Strategies LLC boosted its stake in shares of Minerals Technologies by 189.4% during the 1st quarter. Cubist Systematic Strategies LLC now owns 63,259 shares of the basic materials company's stock valued at $4,021,000 after purchasing an additional 41,398 shares in the last quarter. Institutional investors own 97.29% of the company's stock.

Minerals Technologies Trading Up 1.0%

NYSE:MTX opened at $59.55 on Wednesday. Minerals Technologies Inc. has a one year low of $49.54 and a one year high of $86.49. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.95 and a quick ratio of 1.35. The company's 50-day simple moving average is $62.11 and its 200 day simple moving average is $58.86. The firm has a market capitalization of $1.87 billion, a P/E ratio of 992.60 and a beta of 1.23.

Minerals Technologies (NYSE:MTX - Get Free Report) last posted its quarterly earnings data on Wednesday, March 15th. The basic materials company reported $1.50 EPS for the quarter. Minerals Technologies had a net margin of 0.10% and a return on equity of 10.64%. The business had revenue of $557.00 million for the quarter. As a group, analysts forecast that Minerals Technologies Inc. will post 6.62 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MTX has been the topic of a number of research reports. Truist Financial lifted their target price on shares of Minerals Technologies from $80.00 to $84.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Wall Street Zen raised shares of Minerals Technologies from a "buy" rating to a "strong-buy" rating in a research note on Friday, October 3rd. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Minerals Technologies in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" 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.

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