Teachers Retirement System of The State of Kentucky reduced its stake in Minerals Technologies Inc. (NYSE:MTX) by 21.9% during the first quarter, Holdings Channel reports. The fund owned 6,720 shares of the basic materials company’s stock after selling 1,880 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Minerals Technologies were worth $515,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in MTX. Macquarie Group Ltd. increased its stake in shares of Minerals Technologies by 16.3% in the first quarter. Macquarie Group Ltd. now owns 897,356 shares of the basic materials company’s stock valued at $68,737,000 after buying an additional 125,664 shares during the last quarter. Paloma Partners Management Co bought a new stake in shares of Minerals Technologies during the first quarter valued at about $476,000. AQR Capital Management LLC increased its stake in shares of Minerals Technologies by 4.6% in the first quarter. AQR Capital Management LLC now owns 446,048 shares of the basic materials company’s stock valued at $34,167,000 after buying an additional 19,529 shares during the last quarter. Highbridge Capital Management LLC increased its stake in shares of Minerals Technologies by 20.1% in the first quarter. Highbridge Capital Management LLC now owns 14,563 shares of the basic materials company’s stock valued at $1,116,000 after buying an additional 2,437 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Minerals Technologies by 2.6% in the first quarter. State Street Corp now owns 1,116,334 shares of the basic materials company’s stock valued at $85,513,000 after buying an additional 28,176 shares during the last quarter. Institutional investors and hedge funds own 94.49% of the company’s stock.
Shares of Minerals Technologies Inc. (MTX) traded up 0.28% on Tuesday, reaching $71.00. The company had a trading volume of 6,841 shares. The firm has a market capitalization of $2.49 billion, a price-to-earnings ratio of 18.73 and a beta of 2.21. Minerals Technologies Inc. has a 52-week low of $63.55 and a 52-week high of $83.85. The company’s 50-day moving average price is $72.75 and its 200-day moving average price is $75.49.
Minerals Technologies (NYSE:MTX) last issued its quarterly earnings data on Thursday, May 4th. The basic materials company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.03. Minerals Technologies had a return on equity of 15.44% and a net margin of 8.21%. The firm had revenue of $405 million for the quarter, compared to analyst estimates of $401.63 million. During the same period in the prior year, the firm posted $1.02 EPS. The company’s revenue for the quarter was down 1.3% on a year-over-year basis. On average, analysts predict that Minerals Technologies Inc. will post $4.72 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Friday, August 25th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date is Wednesday, August 23rd. Minerals Technologies’s dividend payout ratio is 5.28%.
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Several brokerages have recently issued reports on MTX. ValuEngine downgraded shares of Minerals Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Zacks Investment Research upgraded shares of Minerals Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th. Finally, BidaskClub downgraded shares of Minerals Technologies from a “sell” rating to a “strong sell” rating in a research note 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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