Inspire Investing LLC Trims Stock Position in Minerals Technologies Inc. (NYSE:MTX)

Inspire Investing LLC lessened its stake in Minerals Technologies Inc. (NYSE:MTX) by 10.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,778 shares of the basic materials company’s stock after selling 584 shares during the quarter. Inspire Investing LLC’s holdings in Minerals Technologies were worth $397,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. XTX Topco Ltd increased its stake in Minerals Technologies by 7.7% during the 2nd quarter. XTX Topco Ltd now owns 10,444 shares of the basic materials company’s stock worth $869,000 after buying an additional 749 shares during the period. Blair William & Co. IL purchased a new position in shares of Minerals Technologies in the 2nd quarter valued at about $456,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Minerals Technologies during the second quarter worth about $223,000. Mercer Global Advisors Inc. ADV increased its stake in shares of Minerals Technologies by 35.4% during the second quarter. Mercer Global Advisors Inc. ADV now owns 6,637 shares of the basic materials company’s stock worth $552,000 after buying an additional 1,735 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in Minerals Technologies in the second quarter worth approximately $1,563,000. Hedge funds and other institutional investors own 97.29% of the company’s stock.

Insider Buying and Selling at Minerals Technologies

In other news, insider Dj Monagle III sold 14,229 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $83.63, for a total value of $1,189,971.27. Following the completion of the sale, the insider now directly owns 79,731 shares of the company’s stock, valued at approximately $6,667,903.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Minerals Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th.

Minerals Technologies Price Performance

Shares of NYSE MTX opened at $73.05 on Friday. The stock’s 50-day simple moving average is $76.31 and its 200-day simple moving average is $77.73. The firm has a market capitalization of $2.36 billion, a PE ratio of 25.28 and a beta of 1.30. Minerals Technologies Inc. has a fifty-two week low of $48.61 and a fifty-two week high of $90.29. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.72 and a current ratio of 2.46.

Minerals Technologies (NYSE:MTX) last released its quarterly earnings data on Thursday, July 25th. The basic materials company reported $1.65 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.05. Minerals Technologies had a net margin of 4.05% and a return on equity of 11.46%. The company had revenue of $541.20 million for the quarter, compared to analysts’ expectations of $561.60 million. During the same quarter last year, the company earned $1.31 earnings per share. The firm’s revenue for the quarter was down 1.9% on a year-over-year basis. As a group, equities research analysts forecast that Minerals Technologies Inc. will post 6.22 EPS for the current fiscal year.

Minerals Technologies Dividend Announcement

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

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.