Martingale Asset Management L P Sells 6,317 Shares of Minerals Technologies Inc. $MTX

Martingale Asset Management L P trimmed its position in Minerals Technologies Inc. (NYSE:MTX) by 15.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,786 shares of the basic materials company’s stock after selling 6,317 shares during the quarter. Martingale Asset Management L P’s holdings in Minerals Technologies were worth $2,148,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in MTX. Hsbc Holdings PLC boosted its position in Minerals Technologies by 9.2% in the first quarter. Hsbc Holdings PLC now owns 5,116 shares of the basic materials company’s stock valued at $325,000 after buying an additional 431 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Minerals Technologies in the first quarter valued at approximately $124,000. American Century Companies Inc. boosted its position in 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 buying an additional 206,906 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Minerals Technologies by 3.0% in the first quarter. Russell Investments Group Ltd. now owns 39,992 shares of the basic materials company’s stock valued at $2,542,000 after buying an additional 1,166 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its position in Minerals Technologies by 46.9% in the first quarter. Public Sector Pension Investment Board now owns 116,769 shares of the basic materials company’s stock valued at $7,423,000 after buying an additional 37,276 shares in the last quarter. 97.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on MTX. Truist Financial raised their target price on shares of Minerals Technologies from $80.00 to $84.00 and gave the company a “buy” rating in a research report on Monday, July 28th. Wall Street Zen upgraded shares of Minerals Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, August 2nd. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, Minerals Technologies currently has an average rating of “Buy” and a consensus price target of $84.00.

Minerals Technologies Price Performance

Shares of NYSE:MTX opened at $63.8180 on Friday. The firm has a market cap of $2.00 billion, a PE ratio of 1,063.81 and a beta of 1.22. The firm’s fifty day moving average is $58.26 and its 200-day moving average is $60.57. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.35 and a current ratio of 1.95. Minerals Technologies Inc. has a 52 week low of $49.54 and a 52 week high of $86.49.

Minerals Technologies (NYSE:MTX) last issued its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.12. The company had revenue of $528.90 million for the quarter, compared to analyst estimates of $529.13 million. Minerals Technologies had a net margin of 0.10% and a return on equity of 10.64%. Minerals Technologies’s revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.65 earnings per share. Sell-side analysts predict that Minerals Technologies Inc. will post 6.62 earnings per share for the current year.

Minerals Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Friday, August 15th. Minerals Technologies’s payout ratio is 733.33%.

About Minerals Technologies

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.