XTX Topco Ltd Invests $492,000 in Minerals Technologies Inc. (NYSE:MTX)

Key Points

• XTX Topco Ltd acquired a new stake in Minerals Technologies Inc., purchasing 7,734 shares valued at approximately $492,000 in the first quarter.
• Analysts have recently raised their ratings on Minerals Technologies, with Wall Street Zen upgrading the stock from "hold" to "buy" and Truist Financial increasing the price target from $80.00 to $84.00.
• The company announced a quarterly dividend of $0.11 per share, with a record date of August 15th, representing an annualized yield of 0.8%.

XTX Topco Ltd bought a new stake in shares of Minerals Technologies Inc. (NYSE:MTX - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,734 shares of the basic materials company's stock, valued at approximately $492,000.

Several other hedge funds have also recently made changes to their positions in MTX. FMR LLC increased its stake in shares of Minerals Technologies by 42.7% during the fourth quarter. FMR LLC now owns 1,761,925 shares of the basic materials company's stock valued at $134,276,000 after buying an additional 527,206 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Minerals Technologies by 78.7% during the fourth quarter. JPMorgan Chase & Co. now owns 207,033 shares of the basic materials company's stock valued at $15,778,000 after buying an additional 91,146 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Minerals Technologies during the first quarter valued at approximately $4,429,000. Invesco Ltd. increased its stake in shares of Minerals Technologies by 36.8% during the fourth quarter. Invesco Ltd. now owns 256,211 shares of the basic materials company's stock valued at $19,526,000 after buying an additional 68,873 shares during the period. Finally, Dean Investment Associates LLC purchased a new position in shares of Minerals Technologies during the fourth quarter valued at approximately $4,071,000. 97.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Wall Street Zen raised Minerals Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Truist Financial lifted their price target on Minerals Technologies from $80.00 to $84.00 and gave the company a "buy" rating in a research report on Monday, July 28th.

Minerals Technologies Stock Up 3.3%

MTX stock traded up $1.93 during midday trading on Tuesday, hitting $60.26. The stock had a trading volume of 25,919 shares, compared to its average volume of 239,566. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of 1,004.22 and a beta of 1.22. The business has a 50-day moving average of $57.57 and a two-hundred day moving average of $61.30. Minerals Technologies Inc. has a 52-week low of $49.54 and a 52-week 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.

Minerals Technologies (NYSE:MTX - Get Free Report) last issued its quarterly 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 analysts' expectations of $529.13 million. Minerals Technologies had a return on equity of 10.64% and a net margin of 0.10%. The firm's revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.65 earnings per share. As a group, equities research analysts forecast that Minerals Technologies Inc. will post 6.62 earnings per share for the current fiscal year.

Minerals Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 15th will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Friday, August 15th. Minerals Technologies's dividend payout ratio is presently 733.33%.

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.