24,007 Shares in Minerals Technologies Inc. $MTX Acquired by Ieq Capital LLC

Ieq Capital LLC purchased a new position in shares of Minerals Technologies Inc. (NYSE:MTX) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 24,007 shares of the basic materials company’s stock, valued at approximately $1,776,000.

A number of other hedge funds also recently made changes to their positions in MTX. Allworth Financial LP acquired a new stake in shares of Minerals Technologies during the 2nd quarter worth $27,000. Global Retirement Partners LLC purchased a new stake in Minerals Technologies during the second quarter valued at about $30,000. 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 acquiring an additional 146 shares during the period. EverSource Wealth Advisors LLC increased its stake 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 acquiring an additional 514 shares during the last quarter. Finally, Persistent Asset Partners Ltd purchased a new position in shares of Minerals Technologies in the 2nd quarter worth about $50,000. Institutional investors and hedge funds own 97.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on MTX shares. Weiss Ratings lowered Minerals Technologies from a “hold (c+)” rating to a “sell (d+)” rating in a research note on Monday, August 3rd. Seaport Research Partners restated a “buy” rating on shares of Minerals Technologies in a report on Monday, May 4th. Wall Street Zen cut shares of Minerals Technologies from a “strong-buy” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Truist Financial boosted their price objective on shares of Minerals Technologies from $89.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $90.00.

Minerals Technologies Price Performance

Shares of NYSE MTX opened at $71.95 on Wednesday. Minerals Technologies Inc. has a 1-year low of $53.94 and a 1-year high of $84.34. The business has a 50-day moving average of $74.33 and a 200-day moving average of $73.49. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.43 and a quick ratio of 1.00. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of -33.16 and a beta of 1.14.

Minerals Technologies (NYSE:MTX) last posted its earnings results on Thursday, July 30th. The basic materials company reported $1.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.04). The company had revenue of $548.40 million during the quarter, compared to analyst estimates of $558.77 million. Minerals Technologies had a negative net margin of 3.13% and a positive return on equity of 10.63%. Minerals Technologies’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.55 EPS. On average, equities analysts anticipate that Minerals Technologies Inc. will post 6.03 EPS for the current fiscal year.

Minerals Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Friday, August 14th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, August 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.7%. Minerals Technologies’s dividend payout ratio (DPR) is currently -22.12%.

Minerals Technologies Company 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.