Vanguard Group Inc. Sells 62,734 Shares of Minerals Technologies Inc. $MTX

Vanguard Group Inc. trimmed its stake in Minerals Technologies Inc. (NYSE:MTX) by 1.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,575,782 shares of the basic materials company’s stock after selling 62,734 shares during the quarter. Vanguard Group Inc. owned approximately 0.11% of Minerals Technologies worth $222,128,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. First Horizon Advisors Inc. increased its position in Minerals Technologies by 161.1% in the second quarter. First Horizon Advisors Inc. now owns 590 shares of the basic materials company’s stock worth $32,000 after buying an additional 364 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Minerals Technologies by 626.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 596 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 514 shares during the period. First Horizon Corp purchased a new stake in Minerals Technologies during the third quarter valued at about $35,000. Strs Ohio bought a new position in Minerals Technologies during the first quarter worth about $70,000. Finally, Smartleaf Asset Management LLC increased its stake in shares of Minerals Technologies by 136.2% in the second quarter. Smartleaf Asset Management LLC now owns 1,278 shares of the basic materials company’s stock worth $71,000 after purchasing an additional 737 shares in the last quarter. Hedge funds and other institutional investors own 97.29% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on MTX shares. Truist Financial upped their price target on shares of Minerals Technologies from $84.00 to $89.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Zacks Research upgraded Minerals Technologies from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 14th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Minerals Technologies in a research report on Monday, December 22nd. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $89.00.

Minerals Technologies Trading Down 0.5%

Minerals Technologies stock opened at $70.70 on Monday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.45 and a current ratio of 2.08. Minerals Technologies Inc. has a fifty-two week low of $49.54 and a fifty-two week high of $75.29. The stock has a market cap of $2.20 billion, a P/E ratio of -138.63 and a beta of 1.24. The firm’s fifty day moving average price is $67.47 and its 200-day moving average price is $62.93.

Minerals Technologies (NYSE:MTX) last posted its earnings results on Thursday, January 29th. The basic materials company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.01). The business had revenue of $519.50 million for the quarter, compared to analysts’ expectations of $517.83 million. Minerals Technologies had a positive return on equity of 10.22% and a negative net margin of 0.89%.Minerals Technologies’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.28 earnings per share. Equities research analysts forecast that Minerals Technologies Inc. will post 6.62 earnings per share for the current fiscal year.

Minerals Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 13th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Friday, February 13th. Minerals Technologies’s dividend payout ratio (DPR) is currently -94.12%.

Insider Transactions at Minerals Technologies

In other Minerals Technologies news, insider Dj Monagle III sold 23,093 shares of Minerals Technologies stock in a transaction that occurred on Monday, December 29th. The shares were sold at an average price of $61.90, for a total transaction of $1,429,456.70. Following the completion of the sale, the insider directly owned 84,349 shares in the company, valued at $5,221,203.10. The trade was a 21.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.50% of the stock is currently owned by insiders.

Minerals Technologies Profile

Minerals Technologies Inc develops, produces and processes a broad range of mineral-based products and solutions that serve a variety of industrial applications. Its offerings include bentonite, perlite, precipitated calcium carbonate (PCC), mineral sands, foundry additives, performance minerals and specialty chemicals designed to enhance performance in markets such as paper, steel, construction, oil and gas, environmental remediation and consumer products.

The company operates through several business segments, including Specialty Minerals, Refractory Minerals, Performance Materials and Recycled Materials.