Invesco Ltd. Increases Stake in Minerals Technologies Inc. (NYSE:MTX)

Invesco Ltd. lifted its position in Minerals Technologies Inc. (NYSE:MTX - Free Report) by 36.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 256,211 shares of the basic materials company's stock after buying an additional 68,873 shares during the period. Invesco Ltd. owned approximately 0.80% of Minerals Technologies worth $19,526,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of MTX. FMR LLC boosted its position in Minerals Technologies by 42.7% in the fourth quarter. FMR LLC now owns 1,761,925 shares of the basic materials company's stock worth $134,276,000 after purchasing an additional 527,206 shares during the last quarter. Norges Bank bought a new position in shares of Minerals Technologies in the 4th quarter worth approximately $16,360,000. American Century Companies Inc. boosted its holdings in shares of Minerals Technologies by 31.1% in the fourth quarter. American Century Companies Inc. now owns 861,173 shares of the basic materials company's stock worth $65,630,000 after buying an additional 204,371 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Minerals Technologies during the fourth quarter valued at approximately $10,797,000. Finally, Foundry Partners LLC purchased a new stake in Minerals Technologies during the fourth quarter valued at approximately $7,735,000. Institutional investors own 97.29% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on MTX shares. Truist Financial dropped their price target on shares of Minerals Technologies from $101.00 to $92.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. StockNews.com cut Minerals Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday, April 9th.

Minerals Technologies Price Performance

NYSE:MTX traded up $0.13 during trading hours on Thursday, hitting $57.68. 46,291 shares of the stock traded hands, compared to its average volume of 172,705. The company has a market cap of $1.84 billion, a price-to-earnings ratio of 11.13 and a beta of 1.25. Minerals Technologies Inc. has a 1 year low of $52.40 and a 1 year high of $90.30. The stock has a 50 day moving average price of $63.73 and a 200 day moving average price of $72.81. The company has a quick ratio of 1.98, a current ratio of 2.84 and a debt-to-equity ratio of 0.54.

Minerals Technologies (NYSE:MTX - Get Free Report) last released its earnings results on Thursday, February 6th. The basic materials company reported $1.50 earnings per share for the quarter, beating analysts' consensus estimates of $1.39 by $0.11. Minerals Technologies had a net margin of 7.89% and a return on equity of 11.49%. Sell-side analysts forecast that Minerals Technologies Inc. will post 6.62 EPS for the current fiscal year.

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.