Minerals Technologies Inc. $MTX Shares Sold by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL trimmed its position in shares of Minerals Technologies Inc. (NYSE:MTX) by 7.8% in the 1st quarter, Holdings Channel.com reports. The firm owned 254,500 shares of the basic materials company’s stock after selling 21,614 shares during the period. Gamco Investors INC. ET AL’s holdings in Minerals Technologies were worth $18,049,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in MTX. EverSource Wealth Advisors LLC boosted its holdings in Minerals Technologies by 626.8% during the second quarter. EverSource Wealth Advisors LLC now owns 596 shares of the basic materials company’s stock worth $33,000 after buying an additional 514 shares in the last quarter. Parallel Advisors LLC grew its position in Minerals Technologies by 36.0% during the first quarter. Parallel Advisors LLC now owns 552 shares of the basic materials company’s stock valued at $39,000 after buying an additional 146 shares during the period. Torren Management LLC purchased a new position in Minerals Technologies in the fourth quarter valued at $50,000. Danske Bank A S purchased a new position in Minerals Technologies in the third quarter valued at $56,000. Finally, Strs Ohio acquired a new position in shares of Minerals Technologies in the first quarter worth about $70,000. 97.29% of the stock is currently owned by institutional investors and hedge funds.

Minerals Technologies Stock Performance

MTX opened at $74.49 on Friday. The firm’s fifty day simple moving average is $75.77 and its two-hundred day simple moving average is $72.40. Minerals Technologies Inc. has a 52-week low of $53.94 and a 52-week high of $84.34. The company has a market cap of $2.31 billion, a price-to-earnings ratio of 14.41 and a beta of 1.15. The company has a quick ratio of 1.47, a current ratio of 2.13 and a debt-to-equity ratio of 0.54.

Minerals Technologies (NYSE:MTX) last released its earnings results on Thursday, April 30th. The basic materials company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.12. Minerals Technologies had a net margin of 7.60% and a return on equity of 10.40%. The business had revenue of $546.90 million during the quarter, compared to analysts’ expectations of $516.39 million. During the same quarter in the previous year, the company earned $1.14 earnings per share. The company’s quarterly revenue was up 11.2% on a year-over-year basis. Equities analysts anticipate that Minerals Technologies Inc. will post 6.34 earnings per share for the current fiscal year.

Minerals Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Friday, August 14th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.6%. The ex-dividend date is Friday, August 14th. Minerals Technologies’s payout ratio is 9.28%.

Insider Activity 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 completion of the transaction, the vice president owned 1,279 shares of the company’s stock, valued at $102,665.33. This represents a 82.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MTX. Seaport Research Partners reissued a “buy” rating on shares of Minerals Technologies in a research note on Monday, May 4th. Weiss Ratings upgraded Minerals Technologies from a “sell (d+)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. Wall Street Zen raised Minerals Technologies from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 4th. Finally, Truist Financial increased their price target on Minerals Technologies from $89.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $90.00.

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.