GW&K Investment Management LLC Reduces Position in Minerals Technologies Inc. (NYSE:MTX)

GW&K Investment Management LLC trimmed its position in Minerals Technologies Inc. (NYSE:MTX - Free Report) by 6.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 578,731 shares of the basic materials company's stock after selling 39,523 shares during the quarter. GW&K Investment Management LLC owned about 1.78% of Minerals Technologies worth $41,269,000 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 the company. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Minerals Technologies during the 3rd quarter valued at $44,000. Acadian Asset Management LLC bought a new stake in Minerals Technologies during the third quarter valued at about $58,000. International Assets Investment Management LLC lifted its position in shares of Minerals Technologies by 1,266.0% in the fourth quarter. International Assets Investment Management LLC now owns 1,284 shares of the basic materials company's stock valued at $92,000 after acquiring an additional 1,190 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Minerals Technologies in the fourth quarter worth about $158,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Minerals Technologies during the fourth quarter worth about $214,000. Institutional investors own 97.29% of the company's stock.

Analyst Ratings Changes

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

Minerals Technologies Price Performance

Shares of MTX stock traded down $0.48 on Tuesday, reaching $83.10. The company's stock had a trading volume of 76,599 shares, compared to its average volume of 154,673. The stock's fifty day simple moving average is $74.95 and its 200-day simple moving average is $69.73. Minerals Technologies Inc. has a 1 year low of $48.61 and a 1 year high of $84.54. The company has a market capitalization of $2.68 billion, a price-to-earnings ratio of 28.79 and a beta of 1.32. The company has a current ratio of 2.49, a quick ratio of 1.75 and a debt-to-equity ratio of 0.53.

Minerals Technologies (NYSE:MTX - Get Free Report) last issued its quarterly earnings data on Thursday, April 25th. The basic materials company reported $1.49 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 analysts' expectations of $545.55 million. Minerals Technologies had a net margin of 4.35% and a return on equity of 10.87%. The business's revenue was down 2.1% on a year-over-year basis. During the same period last year, the company posted $1.14 EPS. Analysts forecast that Minerals Technologies Inc. will post 6.29 earnings per share for the current fiscal year.

Minerals Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Friday, May 31st will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.40 dividend on an annualized basis and a yield of 0.48%. Minerals Technologies's dividend payout ratio (DPR) is presently 13.84%.

Insider Buying and Selling at Minerals Technologies

In related news, Director Kristina M. Johnson purchased 400 shares of the firm's stock in a transaction that occurred on Thursday, May 16th. The shares were bought at an average price of $80.92 per share, for a total transaction of $32,368.00. Following the acquisition, the director now owns 400 shares of the company's stock, valued at approximately $32,368. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, 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 transaction of $87,461.60. Following the transaction, the insider now owns 81,031 shares of the company's stock, valued at $6,006,017.72. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kristina M. Johnson bought 400 shares of Minerals Technologies stock in a transaction on Thursday, May 16th. The stock was acquired at an average price of $80.92 per share, for a total transaction of $32,368.00. Following the purchase, the director now owns 400 shares of the company's stock, valued at $32,368. The disclosure for this purchase can be found here. Company insiders own 3.50% of the company's stock.

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.