Legal & General Group Plc boosted its position in shares of Minerals Technologies Inc. (NYSE:MTX) by 24.3% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 22,420 shares of the basic materials company’s stock after buying an additional 4,376 shares during the period. Legal & General Group Plc owned approximately 0.06% of Minerals Technologies worth $1,714,000 as of its most recent filing with the SEC.
Other hedge funds have also recently made changes to their positions in the company. Elkfork Partners LLC boosted its stake in Minerals Technologies by 7.4% in the first quarter. Elkfork Partners LLC now owns 1,606 shares of the basic materials company’s stock worth $123,000 after buying an additional 110 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Minerals Technologies by 41.5% in the first quarter. Victory Capital Management Inc. now owns 1,747 shares of the basic materials company’s stock worth $134,000 after buying an additional 512 shares during the last quarter. Meadow Creek Investment Management LLC boosted its stake in Minerals Technologies by 7.4% in the first quarter. Meadow Creek Investment Management LLC now owns 2,044 shares of the basic materials company’s stock worth $157,000 after buying an additional 140 shares during the last quarter. Glen Harbor Capital Management LLC boosted its stake in Minerals Technologies by 7.4% in the first quarter. Glen Harbor Capital Management LLC now owns 2,482 shares of the basic materials company’s stock worth $190,000 after buying an additional 170 shares during the last quarter. Finally, 1st Global Advisors Inc. boosted its stake in Minerals Technologies by 1.4% in the first quarter. 1st Global Advisors Inc. now owns 2,936 shares of the basic materials company’s stock worth $225,000 after buying an additional 40 shares during the last quarter. 94.49% of the stock is owned by hedge funds and other institutional investors.
Shares of Minerals Technologies Inc. (MTX) opened at 74.20 on Friday. Minerals Technologies Inc. has a 52-week low of $63.55 and a 52-week high of $83.85. The firm’s 50-day moving average price is $73.16 and its 200-day moving average price is $75.79. The firm has a market capitalization of $2.60 billion, a PE ratio of 19.58 and a beta of 2.21.
Minerals Technologies (NYSE:MTX) last issued its earnings results on Thursday, May 4th. The basic materials company reported $1.07 EPS for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.03. Minerals Technologies had a return on equity of 15.44% and a net margin of 8.21%. The company had revenue of $405 million during the quarter, compared to the consensus estimate of $401.63 million. During the same period in the previous year, the firm posted $1.02 earnings per share. Minerals Technologies’s quarterly revenue was down 1.3% compared to the same quarter last year. On average, equities analysts predict that Minerals Technologies Inc. will post $4.72 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Friday, August 25th will be paid a $0.05 dividend. The ex-dividend date is Wednesday, August 23rd. This represents a $0.20 dividend on an annualized basis and a yield of 0.27%. Minerals Technologies’s payout ratio is currently 5.28%.
A number of analysts have weighed in on MTX shares. Zacks Investment Research cut Minerals Technologies from a “hold” rating to a “sell” rating in a research report on Friday, April 7th. J P Morgan Chase & Co raised Minerals Technologies from a “neutral” rating to an “overweight” rating and set a $80.00 price objective for the company in a research report on Friday, March 24th. They noted that the move was a valuation call. Finally, BidaskClub cut Minerals Technologies from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 17th.
About Minerals Technologies
Minerals Technologies Inc is a resource- and technology-based company that develops, produces and markets a range of specialty mineral, mineral-based and synthetic mineral products and supporting systems and services around the world. It operates through five segments. The Specialty Minerals produces and sells the synthetic mineral product precipitated calcium carbonate (PCC) and processed mineral product quicklime (lime).
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