Voya Investment Management LLC Purchases 9,238 Shares of Minerals Technologies Inc. $MTX

Key Points

• Voya Investment Management LLC increased its stake in Minerals Technologies Inc. by 36.6%, acquiring an additional 9,238 shares, bringing its total ownership to approximately 0.11% of the company, valued at $2.19 million.
• Minerals Technologies recently announced a quarterly dividend of $0.11 per share, with a dividend yield of 0.7%, and a substantial dividend payout ratio of 733.33%.
• Following its latest earnings report, which showed a 2.3% revenue decline year-over-year, Minerals Technologies received a price target increase from Truist Financial, now set at $84.00, maintaining a Buy rating.

Voya Investment Management LLC lifted its holdings in shares of Minerals Technologies Inc. (NYSE:MTX - Free Report) by 36.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,511 shares of the basic materials company's stock after acquiring an additional 9,238 shares during the quarter. Voya Investment Management LLC owned 0.11% of Minerals Technologies worth $2,194,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of MTX. American Century Companies Inc. boosted its holdings in Minerals Technologies by 24.0% in the first quarter. American Century Companies Inc. now owns 1,068,079 shares of the basic materials company's stock valued at $67,898,000 after acquiring an additional 206,906 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Minerals Technologies by 6.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 543,547 shares of the basic materials company's stock worth $33,879,000 after acquiring an additional 32,342 shares during the period. Nuveen LLC bought a new stake in Minerals Technologies during the first quarter valued at about $33,177,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Minerals Technologies by 7.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 393,285 shares of the basic materials company's stock valued at $25,001,000 after acquiring an additional 28,877 shares in the last quarter. Finally, Gamco Investors INC. ET AL boosted its position in Minerals Technologies by 0.8% in the first quarter. Gamco Investors INC. ET AL now owns 240,100 shares of the basic materials company's stock valued at $15,263,000 after buying an additional 1,800 shares during the last quarter. Institutional investors own 97.29% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Truist Financial increased their price target on Minerals Technologies from $80.00 to $84.00 and gave the company a "buy" rating in a report on Monday, July 28th. Wall Street Zen cut shares of Minerals Technologies from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 13th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $84.00.

Minerals Technologies Price Performance

NYSE:MTX traded down $0.32 during midday trading on Monday, hitting $62.60. 206,822 shares of the stock were exchanged, compared to its average volume of 241,044. Minerals Technologies Inc. has a one year low of $49.54 and a one year high of $86.49. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.57. The business has a 50-day moving average price of $61.41 and a two-hundred day moving average price of $59.41. The company has a market capitalization of $1.96 billion, a price-to-earnings ratio of 1,043.51 and a beta of 1.22.

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

Minerals Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 15th were paid a $0.11 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.44 dividend on an annualized basis and a yield of 0.7%. Minerals Technologies's dividend payout ratio (DPR) is presently 733.33%.

Minerals Technologies Company Profile

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.