Tower Research Capital LLC TRC Has $615,000 Stock Holdings in Minerals Technologies Inc. (NYSE:MTX)

Tower Research Capital LLC TRC grew its stake in Minerals Technologies Inc. (NYSE:MTX - Free Report) by 236.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,071 shares of the basic materials company's stock after purchasing an additional 5,669 shares during the period. Tower Research Capital LLC TRC's holdings in Minerals Technologies were worth $615,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. FMR LLC raised its stake in Minerals Technologies by 42.7% during the fourth quarter. FMR LLC now owns 1,761,925 shares of the basic materials company's stock worth $134,276,000 after acquiring an additional 527,206 shares in the last quarter. Norges Bank bought a new position in Minerals Technologies during the 4th quarter valued at about $16,360,000. American Century Companies Inc. boosted its position in Minerals Technologies by 31.1% in the fourth quarter. American Century Companies Inc. now owns 861,173 shares of the basic materials company's stock valued at $65,630,000 after buying an additional 204,371 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Minerals Technologies during the fourth quarter worth about $10,797,000. Finally, Foundry Partners LLC acquired a new position in shares of Minerals Technologies in the 4th quarter worth approximately $7,735,000. 97.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Erik Aldag acquired 1,000 shares of the company's stock in a transaction dated Wednesday, April 30th. The shares were bought at an average cost of $50.37 per share, with a total value of $50,370.00. Following the completion of the transaction, the chief financial officer now directly owns 4,245 shares of the company's stock, valued at $213,820.65. This trade represents a 30.82 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.50% of the stock is currently owned by insiders.

Minerals Technologies Trading Up 1.0 %

Minerals Technologies stock traded up $0.53 during mid-day trading on Friday, hitting $53.22. 172,057 shares of the company's stock were exchanged, compared to its average volume of 179,050. 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 quick ratio of 1.98, a current ratio of 2.84 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $1.69 billion, a P/E ratio of 10.27 and a beta of 1.25. The company's 50 day simple moving average is $61.57 and its 200-day simple moving average is $71.85.

Minerals Technologies (NYSE:MTX - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The basic materials company reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.02). The firm had revenue of $491.80 million during the quarter, compared to analyst estimates of $502.03 million. Minerals Technologies had a net margin of 7.89% and a return on equity of 11.49%. The business's revenue for the quarter was down 8.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.49 EPS. On average, equities analysts anticipate that Minerals Technologies Inc. will post 6.62 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Truist Financial lowered their price objective on shares of Minerals Technologies from $92.00 to $80.00 and set a "buy" rating for the company in a research report on Monday. StockNews.com lowered Minerals Technologies from a "buy" rating to a "hold" rating in a research note on Wednesday, April 9th.

Minerals Technologies 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.