Susquehanna Fundamental Investments LLC acquired a new position in shares of Minerals Technologies Inc. (NYSE:MTX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 8,958 shares of the basic materials company's stock, valued at approximately $683,000.
A number of other institutional investors and hedge funds have also recently made changes to their positions in MTX. Principal Financial Group Inc. raised its stake in shares of Minerals Technologies by 2.7% during the 4th quarter. Principal Financial Group Inc. now owns 166,647 shares of the basic materials company's stock valued at $12,700,000 after purchasing an additional 4,356 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Minerals Technologies by 9.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 115,887 shares of the basic materials company's stock worth $8,950,000 after acquiring an additional 10,284 shares during the last quarter. Franklin Resources Inc. grew its stake in Minerals Technologies by 21.1% in the third quarter. Franklin Resources Inc. now owns 47,847 shares of the basic materials company's stock valued at $3,728,000 after purchasing an additional 8,335 shares during the last quarter. Y Intercept Hong Kong Ltd increased its stake in shares of Minerals Technologies by 74.4% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 17,264 shares of the basic materials company's stock worth $1,316,000 after acquiring an additional 7,364 shares during the period. Finally, M&T Bank Corp grew its position in shares of Minerals Technologies by 13.2% in the fourth quarter. M&T Bank Corp now owns 37,770 shares of the basic materials company's stock valued at $2,878,000 after purchasing an additional 4,402 shares during the period. Institutional investors and hedge funds own 97.29% of the company's stock.
Insider Transactions at Minerals Technologies
In related news, Director Kristina M. Johnson acquired 1,000 shares of the business's stock in a transaction on Friday, May 2nd. The stock was bought at an average cost of $53.79 per share, with a total value of $53,790.00. Following the completion of the acquisition, the director now owns 1,400 shares in the company, valued at $75,306. The trade was a 250.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 3.30% of the company's stock.
Analysts Set New Price Targets
A number of research firms have recently issued reports on MTX. Truist Financial dropped their target price on Minerals Technologies from $92.00 to $80.00 and set a "buy" rating on the stock in a report on Monday, April 28th. StockNews.com lowered shares of Minerals Technologies from a "buy" rating to a "hold" rating in a research note on Wednesday, April 9th.
Check Out Our Latest Stock Report on MTX
Minerals Technologies Stock Performance
Shares of MTX stock traded up $1.44 during trading on Thursday, hitting $53.78. The company's stock had a trading volume of 43,895 shares, compared to its average volume of 180,378. The business has a fifty day moving average of $60.24 and a 200-day moving average of $71.13. The company has a market cap of $1.71 billion, a PE ratio of 10.38 and a beta of 1.22. The company has a current ratio of 2.84, a quick ratio of 1.98 and a debt-to-equity ratio of 0.54. Minerals Technologies Inc. has a 52 week low of $49.54 and a 52 week high of $90.30.
Minerals Technologies (NYSE:MTX - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The basic materials company reported $1.14 earnings per share 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 analysts' expectations of $502.03 million. During the same quarter in the previous year, the business earned $1.49 EPS. The company's revenue for the quarter was down 8.0% on a year-over-year basis. As a group, research analysts anticipate that Minerals Technologies Inc. will post 6.62 earnings per share for the current year.
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.
Further Reading
Before you consider Minerals Technologies, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Minerals Technologies wasn't on the list.
While Minerals Technologies currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
