BNP Paribas Financial Markets lessened its holdings in Minerals Technologies Inc. (NYSE:MTX - Free Report) by 43.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,656 shares of the basic materials company's stock after selling 26,218 shares during the quarter. BNP Paribas Financial Markets owned 0.11% of Minerals Technologies worth $2,471,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in MTX. Rhumbline Advisers increased its stake in Minerals Technologies by 0.4% in the third quarter. Rhumbline Advisers now owns 106,485 shares of the basic materials company's stock valued at $5,831,000 after purchasing an additional 453 shares in the last quarter. Keybank National Association OH raised its stake in shares of Minerals Technologies by 6.9% in the third quarter. Keybank National Association OH now owns 9,125 shares of the basic materials company's stock worth $500,000 after purchasing an additional 585 shares during the last quarter. Swiss National Bank grew its stake in shares of Minerals Technologies by 1.0% in the 3rd quarter. Swiss National Bank now owns 71,600 shares of the basic materials company's stock worth $3,921,000 after acquiring an additional 700 shares in the last quarter. Pathstone Family Office LLC raised its holdings in shares of Minerals Technologies by 11.2% in the third quarter. Pathstone Family Office LLC now owns 7,741 shares of the basic materials company's stock valued at $424,000 after purchasing an additional 780 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ bought a new position in shares of Minerals Technologies during the third quarter valued at about $44,000. 97.29% of the stock is owned by institutional investors.
Insiders Place Their Bets
In related news, SVP Jonathan J. Hastings sold 7,814 shares of the firm's stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $83.13, for a total transaction of $649,577.82. Following the completion of the sale, the senior vice president now owns 53,862 shares of the company's stock, valued at $4,477,548.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Minerals Technologies news, SVP Jonathan J. Hastings sold 7,814 shares of the company's stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $83.13, for a total transaction of $649,577.82. Following the transaction, the senior vice president now owns 53,862 shares in the company, valued at approximately $4,477,548.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Dj Monagle III sold 1,180 shares of Minerals Technologies 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 completion of the sale, the insider now owns 81,031 shares of the company's stock, valued at $6,006,017.72. The disclosure for this sale can be found here. Corporate insiders own 3.50% of the company's stock.
Analysts Set New Price Targets
Several equities analysts have commented on the stock. TheStreet raised shares of Minerals Technologies from a "c+" rating to a "b" rating in a research report on Friday, February 2nd. Seaport Res Ptn upgraded Minerals Technologies from a "neutral" rating to a "buy" rating in a research note on Monday, February 5th. Finally, StockNews.com raised shares of Minerals Technologies from a "hold" rating to a "buy" rating in a report on Thursday, February 8th. Four analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $68.50.
Read Our Latest Stock Analysis on MTX
Minerals Technologies Stock Performance
Shares of MTX traded up $2.06 during mid-day trading on Friday, hitting $85.28. The stock had a trading volume of 183,701 shares, compared to its average volume of 157,145. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.49 and a quick ratio of 1.75. The firm has a market cap of $2.75 billion, a P/E ratio of 29.09 and a beta of 1.32. Minerals Technologies Inc. has a 52 week low of $48.61 and a 52 week high of $85.28. The business has a fifty day moving average price of $75.62 and a 200-day moving average price of $70.08.
Minerals Technologies (NYSE:MTX - Get Free Report) last released its quarterly earnings data on Thursday, April 25th. The basic materials company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.27 by $0.22. The firm had revenue of $534.50 million for 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%. The company's quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.14 earnings per share. On average, equities research analysts expect that Minerals Technologies Inc. will post 6.29 EPS for the current year.
Minerals Technologies Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Friday, May 31st will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.40 annualized dividend and a dividend yield of 0.47%. Minerals Technologies's payout ratio is 13.84%.
About Minerals Technologies
(
Free Report)
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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