Teacher Retirement System of Texas Decreases Position in Minerals Technologies Inc. $MTX

Teacher Retirement System of Texas lowered its position in Minerals Technologies Inc. (NYSE:MTX) by 72.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,835 shares of the basic materials company’s stock after selling 12,636 shares during the quarter. Teacher Retirement System of Texas’ holdings in Minerals Technologies were worth $266,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nuveen LLC purchased a new position in Minerals Technologies during the 1st quarter valued at about $33,177,000. American Century Companies Inc. grew its position in shares of Minerals Technologies by 24.0% in the first quarter. American Century Companies Inc. now owns 1,068,079 shares of the basic materials company’s stock valued at $67,898,000 after purchasing an additional 206,906 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Minerals Technologies during the 1st quarter worth approximately $4,429,000. Boston Trust Walden Corp raised its position in shares of Minerals Technologies by 9.2% during the 2nd quarter. Boston Trust Walden Corp now owns 659,583 shares of the basic materials company’s stock worth $36,323,000 after purchasing an additional 55,345 shares during the last quarter. Finally, Jane Street Group LLC raised its position in shares of Minerals Technologies by 177.6% during the 1st quarter. Jane Street Group LLC now owns 68,156 shares of the basic materials company’s stock worth $4,333,000 after purchasing an additional 43,604 shares during the last quarter. 97.29% of the stock is currently owned by hedge funds and other institutional investors.

Minerals Technologies Price Performance

Shares of NYSE:MTX opened at $57.24 on Wednesday. The company has a market cap of $1.78 billion, a P/E ratio of -2,860.57 and a beta of 1.26. The company has a quick ratio of 1.37, a current ratio of 1.98 and a debt-to-equity ratio of 0.56. Minerals Technologies Inc. has a 52 week low of $49.54 and a 52 week high of $86.49. The business has a fifty day simple moving average of $60.49 and a 200-day simple moving average of $58.96.

Minerals Technologies (NYSE:MTX) last released its earnings results on Wednesday, March 15th. The basic materials company reported $1.50 earnings per share for the quarter. The firm had revenue of $557.00 million for the quarter. Minerals Technologies had a positive return on equity of 10.69% and a negative net margin of 0.08%. Equities research analysts forecast that Minerals Technologies Inc. will post 6.62 EPS for the current year.

Minerals Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Thursday, October 30th will be issued a $0.12 dividend. The ex-dividend date is Thursday, October 30th. This is a positive change from Minerals Technologies’s previous quarterly dividend of $0.11. This represents a $0.48 dividend on an annualized basis and a yield of 0.8%. Minerals Technologies’s payout ratio is presently -2,400.00%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Wall Street Zen downgraded Minerals Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 18th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Minerals Technologies in a research note on Wednesday, October 8th. Finally, Truist Financial boosted their target price on shares of Minerals Technologies from $80.00 to $84.00 and gave the company a “buy” rating in a research note on Monday, July 28th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $84.00.

Minerals Technologies 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.