MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Raises Position in Minerals Technologies Inc. (NYSE:MTX)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Minerals Technologies Inc. (NYSE:MTX - Free Report) by 5.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 364,408 shares of the basic materials company's stock after acquiring an additional 18,856 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 1.14% of Minerals Technologies worth $27,771,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MTX. Smartleaf Asset Management LLC increased its stake in shares of Minerals Technologies by 181.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 506 shares of the basic materials company's stock worth $38,000 after purchasing an additional 326 shares in the last quarter. Quarry LP increased its stake in Minerals Technologies by 536.5% in the 4th quarter. Quarry LP now owns 732 shares of the basic materials company's stock worth $56,000 after buying an additional 617 shares in the last quarter. Blue Trust Inc. raised its holdings in Minerals Technologies by 21.4% during the fourth quarter. Blue Trust Inc. now owns 1,009 shares of the basic materials company's stock valued at $78,000 after acquiring an additional 178 shares during the period. Venturi Wealth Management LLC bought a new position in shares of Minerals Technologies in the fourth quarter worth about $78,000. Finally, KBC Group NV boosted its stake in shares of Minerals Technologies by 43.9% in the fourth quarter. KBC Group NV now owns 1,478 shares of the basic materials company's stock worth $113,000 after acquiring an additional 451 shares during the period. Institutional investors own 97.29% of the company's stock.

Minerals Technologies Price Performance

Shares of MTX traded up $0.45 during midday trading on Tuesday, hitting $59.24. 45,510 shares of the company traded hands, compared to its average volume of 220,970. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 11.44 and a beta of 1.22. The firm has a 50 day moving average of $58.72 and a 200-day moving average of $70.00. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.98 and a current ratio of 2.84. Minerals Technologies Inc. has a 52 week low of $49.54 and a 52 week high of $90.29.

Minerals Technologies (NYSE:MTX - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The basic materials company reported $1.14 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 firm had revenue of $491.80 million for the quarter, compared to the consensus estimate of $502.03 million. During the same period in the previous year, the company posted $1.49 earnings per share. Minerals Technologies's quarterly revenue was down 8.0% on a year-over-year basis. On average, analysts forecast that Minerals Technologies Inc. will post 6.62 EPS for the current fiscal year.

Minerals Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 30th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date is Friday, May 30th. Minerals Technologies's dividend payout ratio (DPR) is presently -57.14%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. StockNews.com downgraded Minerals Technologies from a "buy" rating to a "hold" rating in a research note on Wednesday, April 9th. Truist Financial lowered their target price on shares of Minerals Technologies from $92.00 to $80.00 and set a "buy" rating on the stock in a report on Monday, April 28th.

Insider Activity at Minerals Technologies

In other Minerals Technologies news, Director Kristina M. Johnson acquired 1,000 shares of the stock in a transaction on Friday, May 2nd. The stock was acquired at an average price of $53.79 per share, for a total transaction of $53,790.00. Following the completion of the transaction, the director now directly owns 1,400 shares of the company's stock, valued at $75,306. This trade represents a 250.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.30% of the stock is currently owned by insiders.

About Minerals Technologies

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.