Bridgewater Associates LP Trims Holdings in Minerals Technologies Inc. (NYSE:MTX)

Bridgewater Associates LP lessened its stake in Minerals Technologies Inc. (NYSE:MTX - Free Report) by 77.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,956 shares of the basic materials company's stock after selling 27,982 shares during the period. Bridgewater Associates LP's holdings in Minerals Technologies were worth $606,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in MTX. Principal Financial Group Inc. boosted its holdings in shares of Minerals Technologies by 2.7% during the 4th quarter. Principal Financial Group Inc. now owns 166,647 shares of the basic materials company's stock worth $12,700,000 after purchasing an additional 4,356 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Minerals Technologies by 9.7% in the third quarter. JPMorgan Chase & Co. now owns 115,887 shares of the basic materials company's stock valued at $8,950,000 after acquiring an additional 10,284 shares during the period. Franklin Resources Inc. raised its position in shares of Minerals Technologies by 21.1% during the 3rd quarter. Franklin Resources Inc. now owns 47,847 shares of the basic materials company's stock worth $3,728,000 after purchasing an additional 8,335 shares during the last quarter. Y Intercept Hong Kong Ltd grew its holdings in Minerals Technologies by 74.4% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 17,264 shares of the basic materials company's stock valued at $1,316,000 after purchasing an additional 7,364 shares during the period. Finally, M&T Bank Corp lifted its position in Minerals Technologies by 13.2% during the 4th quarter. M&T Bank Corp now owns 37,770 shares of the basic materials company's stock worth $2,878,000 after acquiring an additional 4,402 shares in the last quarter. Institutional investors and hedge funds own 97.29% of the company's stock.

Analyst Ratings Changes

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

Minerals Technologies Trading Down 7.9 %

NYSE MTX traded down $4.63 on Friday, hitting $54.17. The company's stock had a trading volume of 100,393 shares, compared to its average volume of 173,459. The firm has a market cap of $1.72 billion, a PE ratio of 10.49 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 company has a quick ratio of 1.98, a current ratio of 2.84 and a debt-to-equity ratio of 0.54. The company's 50-day moving average is $63.48 and its 200 day moving average is $72.70.

Minerals Technologies (NYSE:MTX - Get Free Report) last announced its earnings results on Thursday, April 24th. The basic materials company reported $1.14 earnings per share for the quarter, missing analysts' consensus estimates of $1.33 by ($0.19). Minerals Technologies had a return on equity of 11.49% and a net margin of 7.89%. The business had revenue of $491.80 million during the quarter, compared to the consensus estimate of $502.03 million. As a group, analysts predict that Minerals Technologies Inc. will post 6.62 earnings per share 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.