LSV Asset Management Raises Position in Minerals Technologies Inc. $MTX

LSV Asset Management grew its holdings in shares of Minerals Technologies Inc. (NYSE:MTX) by 12.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 211,522 shares of the basic materials company’s stock after purchasing an additional 23,000 shares during the quarter. LSV Asset Management’s holdings in Minerals Technologies were worth $12,892,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MTX. Royal Bank of Canada lifted its holdings in shares of Minerals Technologies by 28.4% during the 1st quarter. Royal Bank of Canada now owns 19,629 shares of the basic materials company’s stock valued at $1,249,000 after purchasing an additional 4,337 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Minerals Technologies by 9.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 110,044 shares of the basic materials company’s stock valued at $6,995,000 after purchasing an additional 9,363 shares during the last quarter. Jane Street Group LLC lifted its holdings 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 valued at $4,333,000 after purchasing an additional 43,604 shares during the last quarter. Intech Investment Management LLC lifted its holdings in shares of Minerals Technologies by 30.5% during the 1st quarter. Intech Investment Management LLC now owns 18,504 shares of the basic materials company’s stock valued at $1,176,000 after purchasing an additional 4,322 shares during the last quarter. Finally, Strs Ohio purchased a new stake in shares of Minerals Technologies during the 1st quarter valued at $70,000. Hedge funds and other institutional investors own 97.29% of the company’s stock.

Insider Activity at Minerals Technologies

In other news, VP Timothy Jordan sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $80.27, for a total value of $481,620.00. Following the completion of the sale, the vice president directly owned 1,279 shares in the company, valued at $102,665.33. The trade was a 82.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

MTX has been the subject of several analyst reports. Weiss Ratings upgraded Minerals Technologies from a “sell (d+)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Seaport Research Partners reiterated a “buy” rating on shares of Minerals Technologies in a report on Monday, May 4th. Truist Financial raised their target price on Minerals Technologies from $89.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Finally, Wall Street Zen upgraded Minerals Technologies from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 2nd. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Minerals Technologies has an average rating of “Hold” and an average target price of $90.00.

Minerals Technologies Price Performance

Shares of MTX opened at $76.63 on Tuesday. The business’s 50-day moving average is $72.77 and its two-hundred day moving average is $67.41. The company has a market capitalization of $2.38 billion, a P/E ratio of 14.82 and a beta of 1.12. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.47 and a current ratio of 2.13. Minerals Technologies Inc. has a fifty-two week low of $53.10 and a fifty-two week high of $84.34.

Minerals Technologies (NYSE:MTX) last posted its earnings results on Thursday, April 30th. The basic materials company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.12. Minerals Technologies had a return on equity of 10.40% and a net margin of 7.60%.The firm had revenue of $546.90 million for the quarter, compared to analysts’ expectations of $516.39 million. During the same period last year, the firm earned $1.14 EPS. The company’s quarterly revenue was up 11.2% on a year-over-year basis. Research analysts predict that Minerals Technologies Inc. will post 6.33 earnings per share for the current year.

Minerals Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Tuesday, June 2nd will be given a $0.12 dividend. The ex-dividend date is Tuesday, June 2nd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.6%. Minerals Technologies’s payout ratio is 9.28%.

Minerals Technologies Profile

Minerals Technologies Inc develops, produces and processes a broad range of mineral-based products and solutions that serve a variety of industrial applications. Its offerings include bentonite, perlite, precipitated calcium carbonate (PCC), mineral sands, foundry additives, performance minerals and specialty chemicals designed to enhance performance in markets such as paper, steel, construction, oil and gas, environmental remediation and consumer products.

The company operates through several business segments, including Specialty Minerals, Refractory Minerals, Performance Materials and Recycled Materials.