Minerals Technologies Inc. (NYSE:MTX) Shares Sold by Kimelman & Baird LLC

Kimelman & Baird LLC reduced its stake in shares of Minerals Technologies Inc. (NYSE:MTX) by 8.1% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 22,782 shares of the basic materials company’s stock after selling 2,000 shares during the period. Kimelman & Baird LLC owned approximately 0.07% of Minerals Technologies worth $1,448,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MTX. LPL Financial LLC grew its position in Minerals Technologies by 21.5% during the 4th quarter. LPL Financial LLC now owns 7,742 shares of the basic materials company’s stock worth $590,000 after purchasing an additional 1,368 shares during the period. Wells Fargo & Company MN grew its position in Minerals Technologies by 27.9% during the 4th quarter. Wells Fargo & Company MN now owns 21,642 shares of the basic materials company’s stock worth $1,649,000 after purchasing an additional 4,719 shares during the period. Envestnet Asset Management Inc. grew its position in Minerals Technologies by 5.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 18,125 shares of the basic materials company’s stock worth $1,381,000 after purchasing an additional 973 shares during the period. Bank of Montreal Can grew its position in shares of Minerals Technologies by 4.5% during the 4th quarter. Bank of Montreal Can now owns 7,309 shares of the basic materials company’s stock valued at $557,000 after acquiring an additional 312 shares during the period. Finally, Invesco Ltd. grew its position in shares of Minerals Technologies by 36.8% during the 4th quarter. Invesco Ltd. now owns 256,211 shares of the basic materials company’s stock valued at $19,526,000 after acquiring an additional 68,873 shares during the period. 97.29% of the stock is owned by institutional investors and hedge funds.

Minerals Technologies Price Performance

NYSE:MTX opened at $61.65 on Friday. Minerals Technologies Inc. has a 52 week low of $49.54 and a 52 week high of $86.49. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $1.93 billion, a PE ratio of 1,027.67 and a beta of 1.22. The stock’s 50-day moving average price is $57.83 and its 200-day moving average price is $61.21.

Minerals Technologies (NYSE:MTX) last posted its earnings results on Thursday, July 24th. The basic materials company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.12. Minerals Technologies had a return on equity of 10.64% and a net margin of 0.10%. The firm had revenue of $528.90 million for the quarter, compared to analysts’ expectations of $529.13 million. During the same period last year, the firm earned $1.65 EPS. The company’s quarterly revenue was down 2.3% on a year-over-year basis. As a group, equities analysts expect that Minerals Technologies Inc. will post 6.62 EPS for the current fiscal year.

Minerals Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 15th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.7%. The ex-dividend date is Friday, August 15th. Minerals Technologies’s payout ratio is presently 733.33%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MTX. Wall Street Zen upgraded Minerals Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, August 2nd. Truist Financial raised their target price on Minerals Technologies from $80.00 to $84.00 and gave the company a “buy” rating in a research report on Monday, July 28th.

Minerals Technologies Company Profile

Minerals Technologies Inc develops, produces, and markets various mineral, mineral-based, and related systems and services. The company operates through two segments, Consumer & Specialties, and Engineered Solutions segments. The Consumer & Specialties segment offers household and personal care products, such as pet litter, personal care, fabric care, edible oil and other fluid purification, animal health, and agricultural products; and specialty additives products, including precipitated calcium carbonate and ground calcium carbonate products that are used in the paper, paperboard, and fiber based packaging industries, as well as automotive, construction, and table and food applications.