First Trust Advisors LP Increases Holdings in Minerals Technologies Inc. (NYSE:MTX)

First Trust Advisors LP lifted its holdings in Minerals Technologies Inc. (NYSE:MTX - Free Report) by 59.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,567 shares of the basic materials company's stock after acquiring an additional 11,432 shares during the period. First Trust Advisors LP owned 0.10% of Minerals Technologies worth $2,330,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MTX. Smartleaf Asset Management LLC lifted its stake in shares of Minerals Technologies by 181.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 506 shares of the basic materials company's stock valued at $38,000 after purchasing an additional 326 shares during the last quarter. Blue Trust Inc. lifted its position in Minerals Technologies by 21.4% in the fourth quarter. Blue Trust Inc. now owns 1,009 shares of the basic materials company's stock worth $78,000 after buying an additional 178 shares during the last quarter. Venturi Wealth Management LLC purchased a new position in Minerals Technologies during the fourth quarter worth $78,000. KBC Group NV increased its position in Minerals Technologies by 43.9% during the fourth quarter. KBC Group NV now owns 1,478 shares of the basic materials company's stock valued at $113,000 after acquiring an additional 451 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in Minerals Technologies during the fourth quarter valued at $145,000. Hedge funds and other institutional investors own 97.29% of the company's stock.

Minerals Technologies Stock Up 0.7 %

Shares of MTX opened at $53.06 on Monday. The firm has a fifty day moving average price of $61.22 and a 200-day moving average price of $71.58. The company has a current ratio of 2.84, a quick ratio of 1.98 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $1.68 billion, a P/E ratio of 10.24 and a beta of 1.22. Minerals Technologies Inc. has a 12-month low of $49.54 and a 12-month high of $90.30.

Minerals Technologies (NYSE:MTX - Get Free Report) last released 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 during 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%. Minerals Technologies's quarterly revenue was down 8.0% on a year-over-year basis. During the same period last year, the firm earned $1.49 earnings per share. Equities research analysts expect that Minerals Technologies Inc. will post 6.62 earnings per share for the current year.

Wall Street Analyst Weigh In

MTX has been the subject of a number of recent analyst reports. StockNews.com cut shares of Minerals Technologies from a "buy" rating to a "hold" rating in a research note on Wednesday, April 9th. Truist Financial dropped their target price on Minerals Technologies from $92.00 to $80.00 and set a "buy" rating for the company in a research report on Monday, April 28th.

Insider Activity at Minerals Technologies

In other news, CFO Erik Aldag acquired 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, April 30th. The stock was purchased at an average cost of $50.37 per share, for a total transaction of $50,370.00. Following the completion of the acquisition, the chief financial officer now directly owns 4,245 shares of the company's stock, valued at $213,820.65. The trade was a 30.82 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.30% of the stock is owned by company insiders.

Minerals Technologies 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.

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