New York State Teachers Retirement System Sells 3,083 Shares of Minerals Technologies Inc. $MTX

New York State Teachers Retirement System lessened its stake in Minerals Technologies Inc. (NYSE:MTX) by 9.4% during the second quarter, Holdings Channel reports. The firm owned 29,726 shares of the basic materials company’s stock after selling 3,083 shares during the period. New York State Teachers Retirement System’s holdings in Minerals Technologies were worth $1,637,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Blue Trust Inc. lifted its holdings in shares of Minerals Technologies by 44.6% in the second quarter. Blue Trust Inc. now owns 1,011 shares of the basic materials company’s stock valued at $56,000 after purchasing an additional 312 shares in the last quarter. Strs Ohio bought a new position in shares of Minerals Technologies in the first quarter valued at approximately $70,000. Quarry LP lifted its holdings in shares of Minerals Technologies by 105.3% in the first quarter. Quarry LP now owns 1,503 shares of the basic materials company’s stock valued at $96,000 after purchasing an additional 771 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Minerals Technologies in the first quarter valued at approximately $124,000. Finally, State of Wyoming lifted its holdings in shares of Minerals Technologies by 11.5% in the first quarter. State of Wyoming now owns 2,684 shares of the basic materials company’s stock valued at $171,000 after purchasing an additional 277 shares in the last quarter. Institutional investors own 97.29% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on MTX shares. Wall Street Zen lowered Minerals Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 18th. Truist Financial increased their price target on Minerals Technologies from $80.00 to $84.00 and gave the company a “buy” rating in a research report on Monday, July 28th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Minerals Technologies in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $84.00.

Minerals Technologies Stock Performance

Shares of MTX opened at $60.50 on Thursday. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of 1,008.42 and a beta of 1.23. The stock has a 50 day moving average of $62.25 and a 200 day moving average of $58.86. Minerals Technologies Inc. has a 12 month low of $49.54 and a 12 month high of $86.49.

Minerals Technologies (NYSE:MTX) last issued its quarterly earnings results on Wednesday, March 15th. The basic materials company reported $1.50 EPS for the quarter. The company had revenue of $557.00 million during the quarter. Minerals Technologies had a return on equity of 10.64% and a net margin of 0.10%. As a group, sell-side analysts forecast that Minerals Technologies Inc. will post 6.62 earnings per share for the current year.

Minerals Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Shareholders of record on Thursday, October 30th will be paid a $0.12 dividend. The ex-dividend date is Thursday, October 30th. This is a boost from Minerals Technologies’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a dividend yield of 0.8%. Minerals Technologies’s dividend payout ratio is presently 733.33%.

Minerals Technologies Company Profile

Minerals Technologies Inc develops, produces, and markets various mineral, mineral-based, and related systems and services. The company operates through two segments, Consumer & Specialties, and Engineered Solutions segments. The Consumer & Specialties segment offers household and personal care products, such as pet litter, personal care, fabric care, edible oil and other fluid purification, animal health, and agricultural products; and specialty additives products, including precipitated calcium carbonate and ground calcium carbonate products that are used in the paper, paperboard, and fiber based packaging industries, as well as automotive, construction, and table and food applications.