First Manhattan Co. cut its stake in shares of Minerals Technologies Inc. (NYSE:MTX) by 1.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 406,026 shares of the basic materials company’s stock after selling 4,450 shares during the period. First Manhattan Co. owned 1.16% of Minerals Technologies worth $29,721,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Highbridge Capital Management LLC acquired a new stake in Minerals Technologies during the fourth quarter worth $936,000. Capstone Asset Management Co. increased its stake in Minerals Technologies by 6.8% in the first quarter. Capstone Asset Management Co. now owns 5,006 shares of the basic materials company’s stock worth $383,000 after buying an additional 320 shares during the period. Louisiana State Employees Retirement System increased its stake in Minerals Technologies by 2.3% in the first quarter. Louisiana State Employees Retirement System now owns 8,800 shares of the basic materials company’s stock worth $674,000 after buying an additional 200 shares during the period. Retirement Systems of Alabama increased its stake in Minerals Technologies by 0.3% in the first quarter. Retirement Systems of Alabama now owns 45,234 shares of the basic materials company’s stock worth $3,465,000 after buying an additional 121 shares during the period. Finally, James Investment Research Inc. increased its stake in Minerals Technologies by 41.9% in the first quarter. James Investment Research Inc. now owns 26,500 shares of the basic materials company’s stock worth $2,030,000 after buying an additional 7,825 shares during the period. Institutional investors own 94.46% of the company’s stock.
Minerals Technologies Inc. (MTX) traded down 0.16% during trading on Friday, hitting $64.05. The stock had a trading volume of 131,740 shares. The stock has a market cap of $2.25 billion, a PE ratio of 14.57 and a beta of 2.20. Minerals Technologies Inc. has a 1-year low of $63.30 and a 1-year high of $83.85. The firm’s 50-day moving average price is $71.48 and its 200-day moving average price is $74.87.
Minerals Technologies (NYSE:MTX) last issued its quarterly earnings results on Thursday, August 3rd. The basic materials company reported $1.23 EPS for the quarter, missing the consensus estimate of $1.24 by $0.01. Minerals Technologies had a return on equity of 15.04% and a net margin of 9.62%. The business had revenue of $414.10 million for the quarter, compared to the consensus estimate of $427.21 million. On average, equities research analysts predict that Minerals Technologies Inc. will post $4.64 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Friday, August 25th will be given a dividend of $0.05 per share. The ex-dividend date is Wednesday, August 23rd. This represents a $0.20 annualized dividend and a yield of 0.31%. Minerals Technologies’s dividend payout ratio (DPR) is presently 4.55%.
A number of research firms recently weighed in on MTX. Zacks Investment Research upgraded Minerals Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, April 26th. ValuEngine downgraded Minerals Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, BidaskClub downgraded 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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