Gamco Investors INC. ET AL trimmed its holdings in shares of Minerals Technologies Inc. (NYSE:MTX) by 1.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 187,000 shares of the basic materials company’s stock after selling 2,000 shares during the period. Gamco Investors INC. ET AL owned 0.53% of Minerals Technologies worth $13,212,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. First Mercantile Trust Co. increased its position in shares of Minerals Technologies by 1.7% during the second quarter. First Mercantile Trust Co. now owns 2,420 shares of the basic materials company’s stock worth $177,000 after purchasing an additional 40 shares in the last quarter. Teacher Retirement System of Texas increased its position in shares of Minerals Technologies by 2.6% during the second quarter. Teacher Retirement System of Texas now owns 2,802 shares of the basic materials company’s stock worth $205,000 after purchasing an additional 71 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of Minerals Technologies by 0.9% during the second quarter. Nisa Investment Advisors LLC now owns 11,560 shares of the basic materials company’s stock worth $846,000 after purchasing an additional 100 shares in the last quarter. Capstone Asset Management Co. increased its position in shares of Minerals Technologies by 2.2% during the second quarter. Capstone Asset Management Co. now owns 5,116 shares of the basic materials company’s stock worth $374,000 after purchasing an additional 110 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Minerals Technologies by 9.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,471 shares of the basic materials company’s stock worth $108,000 after purchasing an additional 125 shares in the last quarter. 93.94% of the stock is owned by institutional investors.
A number of analysts have recently commented on the company. ValuEngine cut Minerals Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Zacks Investment Research upgraded Minerals Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, October 25th. Finally, KeyCorp reiterated a “hold” rating on shares of Minerals Technologies in a research report on Monday, November 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $80.00.
Minerals Technologies Inc. (MTX) opened at $71.30 on Friday. The stock has a market capitalization of $2,542.88, a PE ratio of 15.73 and a beta of 2.26. Minerals Technologies Inc. has a 52-week low of $62.55 and a 52-week high of $83.85. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.66 and a quick ratio of 1.98.
Minerals Technologies (NYSE:MTX) last issued its quarterly earnings results on Thursday, November 2nd. The basic materials company reported $1.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.02. The firm had revenue of $424.40 million for the quarter, compared to analysts’ expectations of $404.80 million. Minerals Technologies had a return on equity of 14.59% and a net margin of 9.48%. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.17 EPS. equities analysts expect that Minerals Technologies Inc. will post 4.6 earnings per share for the current fiscal year.
Minerals Technologies declared that its Board of Directors has initiated a stock buyback plan on Thursday, September 21st that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the basic materials company to buy up to 6.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
In related news, insider Dj Monagle III sold 25,639 shares of the business’s stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $70.03, for a total value of $1,795,499.17. Following the transaction, the insider now owns 39,579 shares in the company, valued at approximately $2,771,717.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.20% of the company’s stock.
Minerals Technologies Profile
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 related systems and services around the world. It operates through four segments. The Specialty Minerals segment produces and sells the synthetic mineral product precipitated calcium carbonate (PCC), mines mineral ores, and processes and sells natural mineral products, primarily limestone and talc.
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