Global X Management Co. LLC raised its position in Minerals Technologies Inc (NYSE:MTX) by 75.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,434 shares of the basic materials company’s stock after purchasing an additional 1,050 shares during the quarter. Global X Management Co. LLC’s holdings in Minerals Technologies were worth $168,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Public Employees Retirement Association of Colorado purchased a new stake in Minerals Technologies in the fourth quarter valued at approximately $152,000. Boothbay Fund Management LLC purchased a new stake in Minerals Technologies in the third quarter valued at approximately $218,000. Victory Capital Management Inc. raised its position in Minerals Technologies by 67.4% in the third quarter. Victory Capital Management Inc. now owns 3,439 shares of the basic materials company’s stock valued at $243,000 after purchasing an additional 1,385 shares during the period. Alambic Investment Management L.P. purchased a new stake in Minerals Technologies in the fourth quarter valued at approximately $262,000. Finally, Cubist Systematic Strategies LLC raised its position in 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 valued at $289,000 after purchasing an additional 631 shares during the period. 96.05% of the stock is currently owned by institutional investors.
Minerals Technologies Inc (NYSE:MTX) opened at $72.25 on Friday. 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 Inc has a 12 month low of $62.55 and a 12 month high of $80.50. The stock has a market cap of $2,560.18, a price-to-earnings ratio of 15.74 and a beta of 2.29.
Minerals Technologies (NYSE:MTX) last released its quarterly earnings data 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 prior year, the firm posted $1.08 earnings per share. Minerals Technologies’s revenue for the quarter was up 7.7% on a year-over-year basis. equities research analysts forecast that Minerals Technologies Inc will post 4.95 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 8th. Shareholders of record on Friday, February 16th will be paid a $0.05 dividend. The ex-dividend date is Thursday, February 15th. This represents a $0.20 annualized dividend and a yield of 0.28%. Minerals Technologies’s dividend payout ratio is presently 3.66%.
In related news, Director Joseph C. Breunig acquired 800 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was bought at an average price of $69.36 per share, for a total transaction of $55,488.00. Following the completion of the purchase, the director now directly owns 1,200 shares of the company’s stock, valued at approximately $83,232. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.20% of the company’s stock.
A number of analysts have issued reports on MTX shares. KeyCorp reissued a “hold” rating on shares of Minerals Technologies in a research report on Monday, November 6th. ValuEngine raised Minerals Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, January 4th. Finally, Zacks Investment Research raised Minerals Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, January 18th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. Minerals Technologies has an average rating of “Hold” and an average target price of $80.00.
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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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