Chartwell Investment Partners LLC lessened its stake in Minerals Technologies Inc (NYSE:MTX) by 3.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 213,704 shares of the basic materials company’s stock after selling 7,730 shares during the period. Chartwell Investment Partners LLC owned about 0.60% of Minerals Technologies worth $14,714,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the stock. UBS Asset Management Americas Inc. increased its stake in shares of Minerals Technologies by 2.0% in the second quarter. UBS Asset Management Americas Inc. now owns 20,599 shares of the basic materials company’s stock worth $1,508,000 after buying an additional 395 shares during the last quarter. Cubist Systematic Strategies LLC increased its stake in shares of Minerals Technologies by 19.0% in the second quarter. Cubist Systematic Strategies LLC now owns 3,948 shares of the basic materials company’s stock worth $289,000 after buying an additional 631 shares during the last quarter. TD Asset Management Inc. increased its stake in shares of Minerals Technologies by 4.8% in the third quarter. TD Asset Management Inc. now owns 17,300 shares of the basic materials company’s stock worth $1,222,000 after buying an additional 800 shares during the last quarter. ING Groep NV increased its stake in shares of Minerals Technologies by 24.2% in the fourth quarter. ING Groep NV now owns 5,337 shares of the basic materials company’s stock worth $367,000 after buying an additional 1,039 shares during the last quarter. Finally, Global X Management Co. LLC increased its stake in shares of Minerals Technologies by 75.9% in the fourth quarter. Global X Management Co. LLC now owns 2,434 shares of the basic materials company’s stock worth $168,000 after buying an additional 1,050 shares during the last quarter. Institutional investors and hedge funds own 95.47% of the company’s stock.
In other news, Director Joseph C. Breunig purchased 800 shares of Minerals Technologies stock in a transaction dated Wednesday, February 7th. The stock was bought at an average price of $69.36 per share, with a total value of $55,488.00. Following the completion of the acquisition, the director now owns 1,200 shares in the company, valued at approximately $83,232. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.20% of the company’s stock.
A number of equities analysts have commented on MTX shares. KeyCorp reaffirmed a “hold” rating on shares of Minerals Technologies in a report on Monday, November 6th. Zacks Investment Research raised shares of Minerals Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, October 25th. Finally, ValuEngine downgraded shares of Minerals Technologies from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $80.00.
Minerals Technologies Inc (NYSE:MTX) opened at $71.05 on Friday. Minerals Technologies Inc has a 1-year low of $62.55 and a 1-year high of $80.50. The company has a market cap of $2,473.91, a price-to-earnings ratio of 15.24 and a beta of 2.29. The company has a quick ratio of 2.04, a current ratio of 2.75 and a debt-to-equity ratio of 0.75.
Minerals Technologies (NYSE:MTX) last announced its quarterly earnings results on Thursday, February 1st. The basic materials company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.01. Minerals Technologies had a net margin of 11.64% and a return on equity of 13.89%. The company had revenue of $432.10 million during the quarter, compared to the consensus estimate of $411.95 million. During the same quarter in the previous year, the company posted $1.08 earnings per share. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. equities analysts forecast that Minerals Technologies Inc will post 4.95 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 8th. Stockholders of record on Friday, February 16th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.28%. The ex-dividend date of this dividend is Thursday, February 15th. Minerals Technologies’s dividend payout ratio (DPR) is 3.66%.
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About Minerals Technologies
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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