Minerals Technologies Inc. $MTX Shares Acquired by UBS Group AG

UBS Group AG grew its position in Minerals Technologies Inc. (NYSE:MTX) by 49.5% during the fourth quarter, Holdings Channel reports. The firm owned 38,541 shares of the basic materials company’s stock after acquiring an additional 12,761 shares during the period. UBS Group AG’s holdings in Minerals Technologies were worth $2,349,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of MTX. Ameriprise Financial Inc. increased its holdings in shares of Minerals Technologies by 26.5% in the second quarter. Ameriprise Financial Inc. now owns 496,215 shares of the basic materials company’s stock valued at $27,327,000 after purchasing an additional 103,853 shares during the period. Bank of America Corp DE increased its holdings in shares of Minerals Technologies by 22.2% in the second quarter. Bank of America Corp DE now owns 483,970 shares of the basic materials company’s stock valued at $26,652,000 after purchasing an additional 87,989 shares during the period. Kennedy Capital Management LLC acquired a new position in shares of Minerals Technologies in the third quarter valued at about $5,117,000. AQR Capital Management LLC increased its holdings in shares of Minerals Technologies by 140.6% in the second quarter. AQR Capital Management LLC now owns 103,662 shares of the basic materials company’s stock valued at $5,709,000 after purchasing an additional 60,580 shares during the period. Finally, HRT Financial LP acquired a new position in shares of Minerals Technologies in the second quarter valued at about $2,560,000. 97.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Transactions at Minerals Technologies

In other Minerals Technologies news, VP Timothy Jordan sold 6,000 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $80.27, for a total transaction of $481,620.00. Following the transaction, the vice president owned 1,279 shares in the company, valued at approximately $102,665.33. This represents a 82.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.70% of the company’s stock.

Minerals Technologies Trading Up 0.7%

Shares of NYSE:MTX opened at $78.69 on Thursday. Minerals Technologies Inc. has a 12-month low of $53.10 and a 12-month high of $84.34. The company has a market capitalization of $2.44 billion, a PE ratio of 15.22 and a beta of 1.12. The business has a 50 day moving average of $73.15 and a two-hundred day moving average of $67.72. The company has a current ratio of 2.13, a quick ratio of 1.47 and a debt-to-equity ratio of 0.54.

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

Minerals Technologies Announces Dividend

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

About Minerals Technologies

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.