California Public Employees Retirement System boosted its position in Minerals Technologies Inc. (NYSE:MTX) by 2.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 71,400 shares of the basic materials company’s stock after purchasing an additional 1,400 shares during the period. California Public Employees Retirement System owned about 0.20% of Minerals Technologies worth $5,226,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Minerals Technologies by 9.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,471 shares of the basic materials company’s stock valued at $108,000 after buying an additional 125 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Minerals Technologies by 41.5% during the 1st quarter. Victory Capital Management Inc. now owns 1,747 shares of the basic materials company’s stock valued at $134,000 after buying an additional 512 shares in the last quarter. Riverhead Capital Management LLC lifted its position in shares of Minerals Technologies by 69.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,197 shares of the basic materials company’s stock valued at $161,000 after buying an additional 897 shares in the last quarter. First Mercantile Trust Co. lifted its position in shares of Minerals Technologies by 1.7% during the 2nd quarter. First Mercantile Trust Co. now owns 2,420 shares of the basic materials company’s stock valued at $177,000 after buying an additional 40 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its position in shares of Minerals Technologies by 2.6% during the 2nd quarter. Teacher Retirement System of Texas now owns 2,802 shares of the basic materials company’s stock valued at $205,000 after buying an additional 71 shares in the last quarter. 94.11% of the stock is currently owned by institutional investors and hedge funds.

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Minerals Technologies Inc. (MTX) opened at 72.85 on Thursday. Minerals Technologies Inc. has a 52-week low of $62.55 and a 52-week high of $83.85. The stock’s 50 day moving average price is $69.23 and its 200-day moving average price is $71.65. The stock has a market capitalization of $2.56 billion, a PE ratio of 16.57 and a beta of 2.23.

Minerals Technologies (NYSE:MTX) last posted its 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). The company had revenue of $414.10 million for 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%. On average, equities analysts expect that Minerals Technologies Inc. will post $4.59 EPS for the current fiscal year.

Minerals Technologies declared that its Board of Directors has initiated a share repurchase program on Thursday, September 21st that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the basic materials company to reacquire up to 6.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

In related news, insider Dj Monagle III sold 25,639 shares of the firm’s stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $70.03, for a total transaction of $1,795,499.17. Following the sale, the insider now directly 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 can be accessed through this hyperlink. 2.20% of the stock is owned by company insiders.

MTX has been the topic of a number of analyst reports. Zacks Investment Research raised Minerals Technologies from a “sell” rating to a “hold” rating in a research report on Friday, September 15th. ValuEngine cut Minerals Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th.

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.

Institutional Ownership by Quarter for Minerals Technologies (NYSE:MTX)

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