Summit Global Investments Makes New $1.56 Million Investment in Minerals Technologies Inc. (NYSE:MTX)

Summit Global Investments purchased a new stake in Minerals Technologies Inc. (NYSE:MTX - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 21,855 shares of the basic materials company's stock, valued at approximately $1,558,000. Summit Global Investments owned 0.07% of Minerals Technologies as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Commonwealth Equity Services LLC acquired a new position in Minerals Technologies in the third quarter valued at about $235,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Minerals Technologies by 33.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,940 shares of the basic materials company's stock valued at $380,000 after acquiring an additional 1,734 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in Minerals Technologies by 9.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 234,651 shares of the basic materials company's stock worth $12,849,000 after acquiring an additional 19,519 shares during the last quarter. Inspire Investing LLC grew its holdings in Minerals Technologies by 3.2% during the third quarter. Inspire Investing LLC now owns 6,395 shares of the basic materials company's stock valued at $350,000 after purchasing an additional 197 shares during the period. Finally, Skylands Capital LLC increased its stake in Minerals Technologies by 65.7% in the third quarter. Skylands Capital LLC now owns 44,000 shares of the basic materials company's stock valued at $2,409,000 after purchasing an additional 17,450 shares in the last quarter. 97.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on MTX shares. Seaport Res Ptn raised shares of Minerals Technologies from a "neutral" rating to a "buy" rating in a report on Monday, February 5th. StockNews.com raised Minerals Technologies from a "hold" rating to a "buy" rating in a research report on Thursday, February 8th. Finally, TheStreet upgraded Minerals Technologies from a "c+" rating to a "b" rating in a research report on Friday, February 2nd. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $68.50.

Insider Activity

In related news, SVP Jonathan J. Hastings sold 12,922 shares of the firm's stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $71.48, for a total value of $923,664.56. Following the completion of the transaction, the senior vice president now owns 53,862 shares of the company's stock, valued at $3,850,055.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Minerals Technologies news, SVP Jonathan J. Hastings sold 12,922 shares of the firm's stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $71.48, for a total value of $923,664.56. Following the completion of the transaction, the senior vice president now directly owns 53,862 shares in the company, valued at $3,850,055.76. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Dj Monagle III sold 1,180 shares of the company's stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $74.12, for a total value of $87,461.60. Following the sale, the insider now owns 81,031 shares in the company, valued at approximately $6,006,017.72. The disclosure for this sale can be found here. 3.50% of the stock is owned by corporate insiders.

Minerals Technologies Stock Up 2.6 %

MTX stock traded up $1.97 during trading hours on Friday, reaching $77.20. 222,731 shares of the stock were exchanged, compared to its average volume of 153,727. The firm's 50-day moving average is $73.08 and its 200-day moving average is $67.35. Minerals Technologies Inc. has a 12 month low of $48.61 and a 12 month high of $78.04. The company has a market cap of $2.49 billion, a price-to-earnings ratio of 26.71 and a beta of 1.32. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.49 and a quick ratio of 1.75.

Minerals Technologies (NYSE:MTX - Get Free Report) last posted its quarterly earnings data on Thursday, April 25th. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.27 by $0.22. The business had revenue of $534.50 million during the quarter, compared to the consensus estimate of $545.55 million. Minerals Technologies had a return on equity of 10.87% and a net margin of 4.35%. Minerals Technologies's quarterly revenue was down 2.1% on a year-over-year basis. During the same period last year, the company earned $1.14 earnings per share. On average, equities research analysts expect that Minerals Technologies Inc. will post 6.29 earnings per share for the current 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.

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