Fmr LLC Acquires 527,206 Shares of Minerals Technologies Inc. (NYSE:MTX)

FMR LLC boosted its holdings in shares of Minerals Technologies Inc. (NYSE:MTX - Free Report) by 42.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,761,925 shares of the basic materials company's stock after acquiring an additional 527,206 shares during the period. FMR LLC owned 5.53% of Minerals Technologies worth $134,276,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MTX. Truist Financial decreased their target price on shares of Minerals Technologies from $101.00 to $92.00 and set a "buy" rating for the company in a report on Monday. StockNews.com lowered shares of Minerals Technologies from a "buy" rating to a "hold" rating in a report on Wednesday, April 9th.

Minerals Technologies Stock Performance

Shares of NYSE:MTX traded up $0.48 during midday trading on Friday, reaching $56.73. 217,214 shares of the company's stock traded hands, compared to its average volume of 172,061. The stock has a 50 day moving average of $65.02 and a 200 day moving average of $73.33. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.98 and a current ratio of 2.84. The company has a market cap of $1.81 billion, a price-to-earnings ratio of 10.95 and a beta of 1.25. Minerals Technologies Inc. has a one year low of $52.40 and a one year high of $90.30.

Minerals Technologies (NYSE:MTX - Get Free Report) last issued its earnings results on Thursday, February 6th. The basic materials company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.11. Minerals Technologies had a net margin of 7.89% and a return on equity of 11.49%. As a group, equities research analysts anticipate that Minerals Technologies Inc. will post 6.62 EPS for the current fiscal year.

Minerals Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 14th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.78%. The ex-dividend date was Friday, February 14th. Minerals Technologies's payout ratio is currently 8.49%.

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.