Minerals Technologies Inc. (NYSE:MTX) Shares Sold by Brevan Howard Capital Management LP

Brevan Howard Capital Management LP cut its holdings in Minerals Technologies Inc. (NYSE:MTX - Free Report) by 60.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,401 shares of the basic materials company's stock after selling 6,757 shares during the period. Brevan Howard Capital Management LP's holdings in Minerals Technologies were worth $335,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Blair William & Co. IL grew its stake in Minerals Technologies by 3.2% during the 4th quarter. Blair William & Co. IL now owns 5,657 shares of the basic materials company's stock worth $431,000 after purchasing an additional 177 shares in the last quarter. Blue Trust Inc. raised its position in shares of Minerals Technologies by 21.4% during the 4th quarter. Blue Trust Inc. now owns 1,009 shares of the basic materials company's stock worth $78,000 after acquiring an additional 178 shares in the last quarter. Balyasny Asset Management L.P. boosted its holdings in shares of Minerals Technologies by 4.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 5,312 shares of the basic materials company's stock valued at $405,000 after buying an additional 235 shares in the last quarter. Savant Capital LLC boosted its stake in Minerals Technologies by 7.4% in the fourth quarter. Savant Capital LLC now owns 3,783 shares of the basic materials company's stock valued at $288,000 after acquiring an additional 260 shares in the last quarter. Finally, QRG Capital Management Inc. lifted its stake in Minerals Technologies by 4.5% in the fourth quarter. QRG Capital Management Inc. now owns 6,481 shares of the basic materials company's stock valued at $494,000 after buying an additional 280 shares during the last quarter. 97.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MTX. StockNews.com cut shares of Minerals Technologies from a "buy" rating to a "hold" rating in a report on Wednesday, April 9th. Truist Financial reduced their price objective on Minerals Technologies from $92.00 to $80.00 and set a "buy" rating for the company in a research note on Monday, April 28th.

Minerals Technologies Stock Performance

Minerals Technologies stock traded up $0.48 during trading hours on Tuesday, reaching $58.80. 264,657 shares of the stock were exchanged, compared to its average volume of 183,876. Minerals Technologies Inc. has a 52-week low of $49.54 and a 52-week high of $90.30. The stock has a market cap of $1.87 billion, a P/E ratio of 11.35 and a beta of 1.22. 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 firm's 50 day moving average is $59.59 and its 200 day moving average is $70.60.

Minerals Technologies (NYSE:MTX - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The basic materials company reported $1.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.16 by ($0.02). Minerals Technologies had a net margin of 7.89% and a return on equity of 11.49%. The company had revenue of $491.80 million for the quarter, compared to analyst estimates of $502.03 million. During the same quarter in the previous year, the business posted $1.49 earnings per share. Minerals Technologies's revenue was down 8.0% on a year-over-year basis. Analysts predict that Minerals Technologies Inc. will post 6.62 EPS for the current fiscal year.

Minerals Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 30th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.75%. Minerals Technologies's dividend payout ratio (DPR) is currently -57.14%.

Insiders Place Their Bets

In other news, CFO Erik Aldag acquired 1,000 shares of the business's stock in a transaction dated Wednesday, April 30th. The stock was acquired at an average price of $50.37 per share, with a total value of $50,370.00. Following the completion of the transaction, the chief financial officer now directly owns 4,245 shares in the company, valued at approximately $213,820.65. This represents a 30.82% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.50% of the stock is currently owned by company insiders.

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.