JPMorgan Chase & Co. lowered its holdings in shares of Minerals Technologies Inc. (NYSE:MTX) by 18.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 513,641 shares of the basic materials company’s stock after selling 113,616 shares during the period. JPMorgan Chase & Co. owned about 1.45% of Minerals Technologies worth $36,700,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in MTX. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings 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 purchasing an additional 125 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Minerals Technologies by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 2,054 shares of the basic materials company’s stock valued at $150,000 after buying an additional 307 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. Quantbot Technologies LP lifted its position in shares of Minerals Technologies by 93.0% during the 2nd quarter. Quantbot Technologies LP now owns 2,349 shares of the basic materials company’s stock valued at $171,000 after buying an additional 1,132 shares in the last quarter. Finally, 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. 94.95% of the stock is currently owned by institutional investors.

Minerals Technologies Inc. (MTX) traded down $0.40 during midday trading on Tuesday, reaching $68.10. The company’s stock had a trading volume of 161,800 shares, compared to its average volume of 140,514. The firm has a market cap of $2,422.63, a P/E ratio of 14.99 and a beta of 2.25. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.98 and a current ratio of 2.66. Minerals Technologies Inc. has a 52 week low of $62.55 and a 52 week high of $83.85.

Minerals Technologies (NYSE:MTX) last announced its quarterly earnings data on Thursday, November 2nd. The basic materials company reported $1.19 EPS for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.02. Minerals Technologies had a return on equity of 14.59% and a net margin of 9.48%. The business had revenue of $424.40 million during the quarter, compared to the consensus estimate of $404.80 million. During the same period in the previous year, the company posted $1.17 earnings per share. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. sell-side analysts anticipate that Minerals Technologies Inc. will post 4.58 EPS for the current fiscal year.

Minerals Technologies announced that its Board of Directors has authorized a share buyback plan on Thursday, September 21st that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the basic materials company to buy up to 6.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Stockholders of record on Monday, November 27th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date was Friday, November 24th. Minerals Technologies’s dividend payout ratio is presently 4.56%.

In other 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 transaction of $1,795,499.17. Following the completion of the transaction, the insider now directly owns 39,579 shares of the company’s stock, valued at $2,771,717.37. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.20% of the company’s stock.

A number of brokerages have weighed in on MTX. KeyCorp restated a “hold” rating on shares of Minerals Technologies in a report on Monday, November 6th. Zacks Investment Research raised Minerals Technologies from a “sell” rating to a “hold” rating in a research report on Friday, September 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $80.00.

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

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