Goldman Sachs Group Inc. cut its position in shares of Minerals Technologies Inc. (NYSE:MTX) by 2.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,200,062 shares of the basic materials company’s stock after selling 35,545 shares during the period. Goldman Sachs Group Inc. owned approximately 3.42% of Minerals Technologies worth $91,925,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of MTX. Elkfork Partners LLC purchased a new stake in shares of Minerals Technologies during the fourth quarter valued at approximately $116,000. Victory Capital Management Inc. boosted its stake in shares of Minerals Technologies by 41.5% in the first quarter. Victory Capital Management Inc. now owns 1,747 shares of the basic materials company’s stock valued at $134,000 after buying an additional 512 shares during the last quarter. Meadow Creek Investment Management LLC boosted its stake in shares of Minerals Technologies by 7.4% in the first quarter. Meadow Creek Investment Management LLC now owns 2,044 shares of the basic materials company’s stock worth $157,000 after buying an additional 140 shares during the last quarter. Glen Harbor Capital Management LLC boosted its stake in shares of Minerals Technologies by 7.4% in the first quarter. Glen Harbor Capital Management LLC now owns 2,482 shares of the basic materials company’s stock worth $190,000 after buying an additional 170 shares during the last quarter. Finally, 1st Global Advisors Inc. boosted its stake in shares of Minerals Technologies by 1.4% in the first quarter. 1st Global Advisors Inc. now owns 2,936 shares of the basic materials company’s stock worth $225,000 after buying an additional 40 shares during the last quarter. Institutional investors own 94.49% of the company’s stock.
Minerals Technologies Inc. (NYSE:MTX) opened at 74.30 on Tuesday. Minerals Technologies Inc. has a 52 week low of $63.55 and a 52 week high of $83.85. The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of 19.60 and a beta of 2.21. The company has a 50 day moving average price of $73.03 and a 200-day moving average price of $76.41.
Minerals Technologies (NYSE:MTX) last released its earnings results on Thursday, May 4th. The basic materials company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.03. The firm had revenue of $405 million during the quarter, compared to the consensus estimate of $401.63 million. Minerals Technologies had a return on equity of 15.44% and a net margin of 8.21%. The company’s revenue was down 1.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.02 EPS. Equities analysts predict that Minerals Technologies Inc. will post $4.72 earnings per share for the current year.
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A number of brokerages have issued reports on MTX. Zacks Investment Research raised Minerals Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. BidaskClub cut Minerals Technologies from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 17th. Finally, J P Morgan Chase & Co raised Minerals Technologies from a “neutral” rating to an “overweight” rating and set a $80.00 price objective for the company in a research report on Friday, March 24th. They noted that the move was a valuation call.
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 supporting systems and services around the world. It operates through five segments. The Specialty Minerals produces and sells the synthetic mineral product precipitated calcium carbonate (PCC) and processed mineral product quicklime (lime).
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