Minerals Technologies Inc. $MTX Stock: Allspring Global Investments Holdings LLC Reduces Holdings

Allspring Global Investments Holdings LLC lessened its holdings in shares of Minerals Technologies Inc. (NYSE:MTX) by 18.3% during the 3rd quarter, Holdings Channel.com reports. The fund owned 212,429 shares of the basic materials company’s stock after selling 47,544 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Minerals Technologies were worth $13,846,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in MTX. Parallel Advisors LLC increased 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 worth $39,000 after buying an additional 146 shares during the last quarter. Hsbc Holdings PLC lifted its position in shares of Minerals Technologies by 5.4% in the second quarter. Hsbc Holdings PLC now owns 3,431 shares of the basic materials company’s stock worth $254,000 after buying an additional 175 shares during the last quarter. Allworth Financial LP bought a new stake in shares of Minerals Technologies during the 2nd quarter worth about $27,000. Versant Capital Management Inc boosted its stake in shares of Minerals Technologies by 87.3% during the 2nd quarter. Versant Capital Management Inc now owns 798 shares of the basic materials company’s stock worth $59,000 after acquiring an additional 372 shares in the last quarter. Finally, Cetera Investment Advisers increased its holdings in shares of Minerals Technologies by 4.5% during the 1st quarter. Cetera Investment Advisers now owns 9,058 shares of the basic materials company’s stock valued at $642,000 after acquiring an additional 390 shares during the last quarter. 97.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on MTX shares. Wall Street Zen downgraded Minerals Technologies from a “strong-buy” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings lowered shares of Minerals Technologies from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, October 27th. Finally, Zacks Research cut shares of Minerals Technologies from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 14th. One research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company. According to MarketBeat, Minerals Technologies currently has a consensus rating of “Reduce” and a consensus target price of $90.00.

Minerals Technologies Trading Down 0.5%

Minerals Technologies stock opened at $61.35 on Friday. The business has a 50 day moving average price of $65.03 and a two-hundred day moving average price of $71.10. The company has a quick ratio of 1.02, a current ratio of 1.45 and a debt-to-equity ratio of 0.59. Minerals Technologies Inc. has a 12 month low of $56.20 and a 12 month high of $84.34. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of 10.66, a price-to-earnings-growth ratio of 1.08 and a beta of 1.15.

Minerals Technologies (NYSE:MTX) last released its quarterly earnings data on Thursday, October 29th. The basic materials company reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.09. The business had revenue of $554.90 million for the quarter, compared to analysts’ expectations of $552.20 million. Minerals Technologies had a positive return on equity of 10.73% and a negative net margin of 3.12%. Minerals Technologies’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.55 earnings per share. As a group, equities analysts forecast that Minerals Technologies Inc. will post 5.69 EPS for the current year.

Minerals Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Thursday, November 5th will be paid a dividend of $0.13 per share. This is an increase from Minerals Technologies’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Thursday, November 5th. Minerals Technologies’s dividend payout ratio is presently -23.96%.

About Minerals Technologies

Minerals Technologies Inc. is a global specialty minerals company that develops and produces mineral-based products, technologies and services for industrial and consumer markets. Its offerings include bentonite, calcium carbonate, talc and other mineral products, as well as related processing and application technologies. The company serves customers in industries including paper and packaging, construction, steel and foundry, environmental services, energy and consumer products. Its products are used in applications such as paper manufacturing, building materials, metal casting and household goods.