First Eagle Investment Management LLC Sells 7,400 Shares of Minerals Technologies Inc. (NYSE:MTX)

First Eagle Investment Management LLC lowered its holdings in Minerals Technologies Inc. (NYSE:MTX) by 9.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 68,031 shares of the basic materials company’s stock after selling 7,400 shares during the quarter. First Eagle Investment Management LLC owned approximately 0.21% of Minerals Technologies worth $5,657,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Parallel Advisors LLC increased its holdings in Minerals Technologies by 97.9% during the fourth quarter. Parallel Advisors LLC now owns 556 shares of the basic materials company’s stock valued at $40,000 after buying an additional 275 shares during the period. Picton Mahoney Asset Management purchased a new position in shares of Minerals Technologies in the 2nd quarter valued at $52,000. Innealta Capital LLC bought a new position in shares of Minerals Technologies in the 2nd quarter worth $76,000. Fidelis Capital Partners LLC purchased a new stake in shares of Minerals Technologies during the 1st quarter worth $77,000. Finally, CWM LLC boosted its position in Minerals Technologies by 585.6% during the second quarter. CWM LLC now owns 1,330 shares of the basic materials company’s stock valued at $111,000 after purchasing an additional 1,136 shares in the last quarter. Hedge funds and other institutional investors own 97.29% of the company’s stock.

Minerals Technologies Stock Performance

Shares of MTX stock opened at $73.03 on Friday. The company has a current ratio of 2.46, a quick ratio of 1.72 and a debt-to-equity ratio of 0.53. The company has a market cap of $2.36 billion, a PE ratio of 25.27 and a beta of 1.30. Minerals Technologies Inc. has a 12-month low of $48.61 and a 12-month high of $90.29. The business’s fifty day simple moving average is $76.31 and its 200-day simple moving average is $77.69.

Minerals Technologies (NYSE:MTX) last released its quarterly earnings results on Thursday, July 25th. The basic materials company reported $1.65 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.05. Minerals Technologies had a return on equity of 11.46% and a net margin of 4.05%. The company had revenue of $541.20 million during the quarter, compared to analysts’ expectations of $561.60 million. During the same period last year, the business posted $1.31 earnings per share. The firm’s revenue was down 1.9% compared to the same quarter last year. Analysts expect that Minerals Technologies Inc. will post 6.22 earnings per share for the current fiscal year.

Minerals Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 16th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend was Friday, August 16th. Minerals Technologies’s dividend payout ratio is presently 13.84%.

Insider Buying and Selling at Minerals Technologies

In other news, insider Dj Monagle III sold 14,229 shares of Minerals Technologies stock in a transaction on Monday, June 24th. The shares were sold at an average price of $83.63, for a total transaction of $1,189,971.27. Following the completion of the sale, the insider now directly owns 79,731 shares in the company, valued at $6,667,903.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 3.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Minerals Technologies from a “buy” rating to a “hold” rating in a report on Tuesday.

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.