Minerals Technologies Inc. (MTX) Shares Bought by Voya Investment Management LLC
Voya Investment Management LLC grew its stake in Minerals Technologies Inc. (NYSE:MTX) by 8.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 735,179 shares of the basic materials company’s stock after buying an additional 54,830 shares during the period. Voya Investment Management LLC owned 2.09% of Minerals Technologies worth $53,815,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Legal & General Group Plc boosted its holdings in shares of Minerals Technologies by 24.3% in the 1st quarter. Legal & General Group Plc now owns 22,420 shares of the basic materials company’s stock valued at $1,714,000 after buying an additional 4,376 shares in the last quarter. State Street Corp boosted its holdings in shares of Minerals Technologies by 2.6% in the 1st 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 in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Minerals Technologies by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 154,503 shares of the basic materials company’s stock valued at $11,835,000 after buying an additional 3,986 shares in the last quarter. Highbridge Capital Management LLC boosted its holdings in shares of Minerals Technologies by 20.1% in the 1st 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 in the last quarter. Finally, United Services Automobile Association acquired a new position in shares of Minerals Technologies in the 1st quarter valued at $457,000. Institutional investors and hedge funds own 94.41% of the company’s stock.
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Shares of Minerals Technologies Inc. (MTX) traded down 0.63% on Thursday, hitting $71.35. 11,044 shares of the stock traded hands. The firm has a market cap of $2.50 billion, a P/E ratio of 16.23 and a beta of 2.21. The firm’s 50-day moving average is $65.42 and its 200 day moving average is $72.02. Minerals Technologies Inc. has a 12-month low of $62.55 and a 12-month high of $83.85.
Minerals Technologies (NYSE:MTX) last released its quarterly earnings data on Thursday, August 3rd. The basic materials company reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.01). The business had revenue of $414.10 million during the quarter, compared to analyst estimates of $427.21 million. Minerals Technologies had a return on equity of 15.04% and a net margin of 9.62%. Equities research analysts forecast that Minerals Technologies Inc. will post $4.59 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 7th. Shareholders of record on Friday, August 25th were 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 of this dividend was Wednesday, August 23rd. Minerals Technologies’s dividend payout ratio is presently 4.55%.
Minerals Technologies declared that its board has approved a share repurchase program on Thursday, September 21st that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the basic materials company to reacquire up to 6.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.
In other Minerals Technologies news, insider Dj Monagle III sold 25,639 shares of Minerals Technologies stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of $70.03, for a total value of $1,795,499.17. Following the completion of the transaction, the insider now owns 39,579 shares of the company’s stock, valued at $2,771,717.37. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.20% of the company’s stock.
MTX has been the subject of several research analyst reports. BidaskClub cut shares of Minerals Technologies from a “sell” rating to a “strong sell” rating in a report on Saturday, June 17th. ValuEngine cut shares of Minerals Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Finally, Zacks Investment Research upgraded shares of Minerals Technologies from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th.
Minerals Technologies Company 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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