Minerals Technologies Inc. (NYSE:MTX) Shares Acquired by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC lifted its position in Minerals Technologies Inc. (NYSE:MTX - Free Report) by 236.0% in the fourth quarter, according to its most recent Form 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 quarter. Tower Research Capital LLC TRC's holdings in Minerals Technologies were worth $615,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MTX. Smartleaf Asset Management LLC raised its holdings in Minerals Technologies by 181.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 506 shares of the basic materials company's stock valued at $38,000 after buying an additional 326 shares during the period. Blue Trust Inc. raised its stake in shares of Minerals Technologies by 21.4% in the 4th quarter. Blue Trust Inc. now owns 1,009 shares of the basic materials company's stock valued at $78,000 after acquiring an additional 178 shares during the period. Venturi Wealth Management LLC acquired a new position in shares of Minerals Technologies in the 4th quarter worth approximately $78,000. KBC Group NV boosted its position in shares of Minerals Technologies by 43.9% during the 4th quarter. KBC Group NV now owns 1,478 shares of the basic materials company's stock worth $113,000 after purchasing an additional 451 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in Minerals Technologies in the 4th quarter valued at approximately $145,000. 97.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. StockNews.com cut Minerals Technologies from a "buy" rating to a "hold" rating in a research note on Wednesday, April 9th. Truist Financial decreased their target price on Minerals Technologies from $92.00 to $80.00 and set a "buy" rating on the stock in a research note on Monday, April 28th.

Minerals Technologies Stock Up 0.7 %

Shares of NYSE MTX traded up $0.37 during midday trading on Friday, hitting $53.06. The company's stock had a trading volume of 289,398 shares, compared to its average volume of 179,443. Minerals Technologies Inc. has a 1 year low of $49.54 and a 1 year high of $90.30. The business's fifty day simple moving average is $61.22 and its two-hundred day simple moving average is $71.64. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of 10.24 and a beta of 1.25. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.84 and a quick ratio of 1.98.

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

Insiders Place Their Bets

In other news, CFO Erik Aldag acquired 1,000 shares of Minerals Technologies stock in a transaction dated Wednesday, April 30th. The shares were acquired at an average cost of $50.37 per share, for a total transaction of $50,370.00. Following the acquisition, the chief financial officer now 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 document filed with the SEC, which can be accessed through the SEC website. 3.50% of the stock is owned by company insiders.

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.