Northern Trust Corp Raises Stock Holdings in Minerals Technologies Inc. (NYSE:MTX)

Northern Trust Corp raised its position in shares of Minerals Technologies Inc. (NYSE:MTX - Free Report) by 9.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 498,929 shares of the basic materials company's stock after purchasing an additional 43,546 shares during the quarter. Northern Trust Corp owned 1.56% of Minerals Technologies worth $38,023,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

A number of research firms have weighed in on MTX. 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. StockNews.com downgraded Minerals Technologies from a "buy" rating to a "hold" rating in a report on Wednesday, April 9th.

Insider Activity

In other news, CFO Erik Aldag acquired 1,000 shares of the stock in a transaction that occurred on Wednesday, April 30th. The shares were bought at an average cost of $50.37 per share, for a total transaction of $50,370.00. Following the acquisition, the chief financial officer now owns 4,245 shares in the company, valued at approximately $213,820.65. This represents a 30.82 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.30% of the company's stock.

Minerals Technologies Stock Up 1.4 %

MTX opened at $55.97 on Friday. The company has a fifty day moving average of $59.78 and a two-hundred day moving average of $70.82. The stock has a market capitalization of $1.78 billion, a price-to-earnings ratio of 10.81 and a beta of 1.22. Minerals Technologies Inc. has a fifty-two week low of $49.54 and a fifty-two week 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.

Minerals Technologies (NYSE:MTX - Get Free Report) last announced 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). Minerals Technologies had a net margin of 7.89% and a return on equity of 11.49%. The business had revenue of $491.80 million during the quarter, compared to analysts' expectations of $502.03 million. During the same quarter in the prior year, the firm earned $1.49 EPS. Minerals Technologies's revenue for the quarter was down 8.0% on a year-over-year basis. On average, research analysts expect that Minerals Technologies Inc. will post 6.62 earnings per share for the current year.

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.

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