Legal & General Group Plc lifted its holdings in Minerals Technologies Inc (NYSE:MTX) by 11.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,041 shares of the basic materials company’s stock after buying an additional 3,055 shares during the period. Legal & General Group Plc owned about 0.08% of Minerals Technologies worth $2,122,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Bank of New York Mellon Corp lifted 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 worth $30,557,000 after purchasing an additional 1,678 shares during the period. FMR LLC purchased a new stake in shares of Minerals Technologies in the 2nd quarter worth approximately $1,183,000. Tocqueville Asset Management L.P. lifted 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 worth $15,094,000 after purchasing an additional 21,500 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of Minerals Technologies in the 2nd quarter worth approximately $423,000. Finally, Teacher Retirement System of Texas lifted its position in shares of Minerals Technologies by 2.6% in the 2nd quarter. Teacher Retirement System of Texas now owns 2,802 shares of the basic materials company’s stock worth $205,000 after purchasing an additional 71 shares during the period. Hedge funds and other institutional investors own 94.63% of the company’s stock.
Several research analysts recently commented on the stock. ValuEngine upgraded shares of Minerals Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, January 4th. KeyCorp restated a “hold” rating on shares of Minerals Technologies in a research note on Monday, November 6th. Finally, Zacks Investment Research upgraded shares of Minerals Technologies from a “sell” rating to a “hold” rating in a research note on Friday, September 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $80.00.
Shares of Minerals Technologies Inc (NYSE:MTX) opened at $75.80 on Friday. Minerals Technologies Inc has a twelve month low of $62.55 and a twelve month high of $83.85. The stock has a market cap of $2,510.00, a price-to-earnings ratio of 17.31 and a beta of 2.26. The company has a current ratio of 2.66, a quick ratio of 1.98 and a debt-to-equity ratio of 0.82.
Minerals Technologies (NYSE:MTX) last posted its quarterly earnings data on Thursday, November 2nd. The basic materials company reported $1.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.02. The business had revenue of $424.40 million for the quarter, compared to the consensus estimate of $404.80 million. Minerals Technologies had a net margin of 9.48% and a return on equity of 14.59%. The company’s revenue was up 6.2% compared to the same quarter last year. During the same period last year, the firm posted $1.17 earnings per share. analysts anticipate that Minerals Technologies Inc will post 4.57 EPS for the current fiscal year.
Minerals Technologies announced that its Board of Directors has approved a share buyback plan on Thursday, September 21st that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the basic materials company to repurchase up to 6.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
Minerals Technologies 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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