Hsbc Holdings PLC Lowers Stock Holdings in Minerals Technologies Inc. (NYSE:MTX)

Hsbc Holdings PLC cut its stake in shares of Minerals Technologies Inc. (NYSE:MTX - Free Report) by 50.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,685 shares of the basic materials company's stock after selling 4,836 shares during the period. Hsbc Holdings PLC's holdings in Minerals Technologies were worth $358,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of MTX. Tower Research Capital LLC TRC increased its stake in shares of Minerals Technologies by 236.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 8,071 shares of the basic materials company's stock worth $615,000 after purchasing an additional 5,669 shares in the last quarter. MetLife Investment Management LLC increased its holdings in shares of Minerals Technologies by 5.4% in the 4th quarter. MetLife Investment Management LLC now owns 19,432 shares of the basic materials company's stock worth $1,481,000 after buying an additional 993 shares during the last quarter. First Trust Advisors LP increased its stake in Minerals Technologies by 59.7% during the fourth quarter. First Trust Advisors LP now owns 30,567 shares of the basic materials company's stock worth $2,330,000 after acquiring an additional 11,432 shares during the last quarter. Dean Investment Associates LLC bought a new position in Minerals Technologies during the fourth quarter valued at $4,071,000. Finally, Keeley Teton Advisors LLC grew its holdings in Minerals Technologies by 8.0% during the 4th quarter. Keeley Teton Advisors LLC now owns 34,860 shares of the basic materials company's stock valued at $2,657,000 after purchasing an additional 2,588 shares during the last quarter. Hedge funds and other institutional investors own 97.29% of the company's stock.

Insider Activity

In related news, Director Kristina M. Johnson acquired 1,000 shares of the stock in a transaction on Friday, May 2nd. The shares were acquired at an average price of $53.79 per share, for a total transaction of $53,790.00. Following the transaction, the director now owns 1,400 shares in the company, valued at approximately $75,306. This trade represents a 250.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MTX. Truist Financial cut their target price on Minerals Technologies from $92.00 to $80.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. 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 Up 4.0%

MTX stock traded up $2.26 on Monday, hitting $58.26. 308,937 shares of the company's stock were exchanged, compared to its average volume of 183,384. The stock has a market cap of $1.85 billion, a P/E ratio of 11.25 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. 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 has a 50 day moving average price of $59.78 and a two-hundred day moving average price of $70.73.

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 for the quarter, missing the consensus estimate of $1.16 by ($0.02). The firm had revenue of $491.80 million for 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%. The firm's revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.49 EPS. As a group, equities research analysts expect that Minerals Technologies Inc. will post 6.62 EPS for the current fiscal year.

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.