SG Americas Securities LLC lessened its stake in Minerals Technologies Inc. (NYSE:MTX) by 19.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,543 shares of the basic materials company’s stock after selling 2,476 shares during the period. SG Americas Securities LLC’s holdings in Minerals Technologies were worth $745,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its position in shares of Minerals Technologies by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 417,439 shares of the basic materials company’s stock valued at $30,557,000 after buying an additional 1,678 shares during the last quarter. Tocqueville Asset Management L.P. grew its position in shares of Minerals Technologies by 11.2% in the 3rd quarter. Tocqueville Asset Management L.P. now owns 213,646 shares of the basic materials company’s stock valued at $15,094,000 after buying an additional 21,500 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of Minerals Technologies in the 2nd quarter valued at about $423,000. FMR LLC bought a new stake in shares of Minerals Technologies in the 2nd quarter valued at about $1,183,000. Finally, Marshall Wace North America L.P. grew its position in shares of Minerals Technologies by 64.8% in the 2nd quarter. Marshall Wace North America L.P. now owns 77,104 shares of the basic materials company’s stock valued at $5,629,000 after buying an additional 30,307 shares during the last quarter. Hedge funds and other institutional investors own 94.95% of the company’s stock.
MTX has been the topic of a number of analyst reports. Zacks Investment Research upgraded Minerals Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, October 25th. KeyCorp reiterated a “hold” rating on shares of Minerals Technologies in a research report on Monday, November 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $80.00.
Shares of Minerals Technologies Inc. (NYSE:MTX) traded down $0.60 during trading on Thursday, hitting $69.25. The company had a trading volume of 165,600 shares, compared to its average volume of 140,611. Minerals Technologies Inc. has a 52 week low of $62.55 and a 52 week high of $83.85. The company has a current ratio of 2.66, a quick ratio of 1.98 and a debt-to-equity ratio of 0.82. The company has a market cap of $2,470.38, a price-to-earnings ratio of 15.28 and a beta of 2.25.
Minerals Technologies (NYSE:MTX) last announced its earnings results on Thursday, November 2nd. The basic materials company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.17 by $0.02. Minerals Technologies had a return on equity of 14.59% and a net margin of 9.48%. The company had revenue of $424.40 million for the quarter, compared to analyst estimates of $404.80 million. During the same quarter in the prior year, the company earned $1.17 EPS. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. analysts predict that Minerals Technologies Inc. will post 4.58 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Monday, November 27th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, November 24th. This represents a $0.20 annualized dividend and a dividend yield of 0.29%. Minerals Technologies’s payout ratio is 4.56%.
Minerals Technologies declared that its Board of Directors has initiated a stock repurchase program on Thursday, September 21st that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the basic materials company to buy up to 6.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.
In related news, insider Dj Monagle III sold 25,639 shares of the company’s stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $70.03, for a total transaction of $1,795,499.17. Following the sale, the insider now owns 39,579 shares in the company, valued at approximately $2,771,717.37. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.20% of the stock is owned by corporate insiders.
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Minerals Technologies Company Profile
Minerals Technologies Inc is a resource- and technology-based company that develops, produces and markets a range of specialty mineral, mineral-based and synthetic mineral products and related systems and services around the world. It operates through four segments. The Specialty Minerals segment produces and sells the synthetic mineral product precipitated calcium carbonate (PCC), mines mineral ores, and processes and sells natural mineral products, primarily limestone and talc.
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