Minerals Technologies Inc. (MTX) Shares Bought by Boston Partners
Boston Partners lifted its stake in shares of Minerals Technologies Inc. (NYSE:MTX) by 2.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 517,935 shares of the company’s stock after purchasing an additional 11,226 shares during the quarter. Boston Partners owned about 1.48% of Minerals Technologies worth $36,592,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in MTX. Macquarie Group Ltd. boosted its position in shares of Minerals Technologies by 20.6% during the 2nd quarter. Macquarie Group Ltd. now owns 1,082,223 shares of the company’s stock worth $79,219,000 after purchasing an additional 184,867 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its position in shares of Minerals Technologies by 26.5% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 480,675 shares of the company’s stock worth $35,185,000 after purchasing an additional 100,600 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Minerals Technologies by 16.6% in the 3rd quarter. American Century Companies Inc. now owns 609,589 shares of the company’s stock worth $43,067,000 after acquiring an additional 86,577 shares during the last quarter. Prudential Financial Inc. raised its holdings in shares of Minerals Technologies by 87.5% in the 3rd quarter. Prudential Financial Inc. now owns 119,724 shares of the company’s stock worth $8,458,000 after acquiring an additional 55,878 shares during the last quarter. Finally, Voya Investment Management LLC raised its holdings in shares of Minerals Technologies by 8.1% in the 2nd quarter. Voya Investment Management LLC now owns 735,179 shares of the company’s stock worth $53,815,000 after acquiring an additional 54,830 shares during the last quarter. 94.36% of the stock is currently owned by institutional investors.
In other Minerals Technologies news, insider Dj Monagle III sold 25,639 shares of the stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of C$70.03, for a total value of C$1,795,499.17. Following the completion of the sale, the insider now owns 39,579 shares in the company, valued at approximately C$2,771,717.37. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 2.20% of the company’s stock.
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MTX has been the topic of a number of analyst reports. ValuEngine lowered shares of Minerals Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. KeyCorp restated a “hold” rating on shares of Minerals Technologies in a report on Monday, November 6th. Finally, Zacks Investment Research upgraded shares of Minerals Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of C$80.00.
Shares of Minerals Technologies Inc. (NYSE:MTX) opened at C$71.30 on Monday. 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 Inc. has a fifty-two week low of C$62.55 and a fifty-two week high of C$83.85. The firm has a market cap of $2,521.66, a PE ratio of 15.60 and a beta of 2.26.
Minerals Technologies (NYSE:MTX) last posted its earnings results on Thursday, November 2nd. The company reported C$1.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of C$1.17 by C$0.02. Minerals Technologies had a net margin of 9.48% and a return on equity of 14.59%. The company had revenue of C$424.40 million for the quarter, compared to analyst estimates of C$404.80 million. During the same quarter in the prior year, the business posted $1.17 EPS. The firm’s revenue was up 6.2% compared to the same quarter last year. analysts expect that Minerals Technologies Inc. will post 4.6 earnings per share for the current fiscal year.
Minerals Technologies announced that its board has approved a stock buyback plan on Thursday, September 21st that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the company to reacquire up to 6.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
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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