Truist Financial Corp Takes Position in Minerals Technologies Inc. (NYSE:MTX)

Truist Financial Corp acquired a new position in Minerals Technologies Inc. (NYSE:MTX) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,291 shares of the basic materials company’s stock, valued at approximately $274,000.

Several other large investors also recently added to or reduced their stakes in MTX. Vanguard Group Inc. raised its position in Minerals Technologies by 0.7% in the first quarter. Vanguard Group Inc. now owns 3,738,256 shares of the basic materials company’s stock worth $281,416,000 after acquiring an additional 25,056 shares during the period. Dimensional Fund Advisors LP lifted its position in Minerals Technologies by 0.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,296,727 shares of the basic materials company’s stock valued at $190,996,000 after purchasing an additional 15,563 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Minerals Technologies by 2.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 528,945 shares of the basic materials company’s stock valued at $43,987,000 after purchasing an additional 14,909 shares during the period. Bank of New York Mellon Corp grew its holdings in Minerals Technologies by 0.8% during the second quarter. Bank of New York Mellon Corp now owns 322,706 shares of the basic materials company’s stock valued at $26,836,000 after purchasing an additional 2,715 shares during the period. Finally, Wellington Management Group LLP increased its position in Minerals Technologies by 9.1% in the fourth quarter. Wellington Management Group LLP now owns 273,941 shares of the basic materials company’s stock worth $19,535,000 after buying an additional 22,857 shares in the last quarter. 97.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com cut Minerals Technologies from a “buy” rating to a “hold” rating in a research report on Saturday.

Minerals Technologies Stock Down 0.7 %

MTX opened at $80.03 on Friday. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of 27.69 and a beta of 1.30. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.72 and a current ratio of 2.46. The firm’s fifty day moving average is $74.79 and its 200 day moving average is $78.09. Minerals Technologies Inc. has a fifty-two week low of $50.30 and a fifty-two week high of $90.29.

Minerals Technologies (NYSE:MTX) last announced its quarterly earnings data on Thursday, July 25th. The basic materials company reported $1.65 EPS for the quarter, beating the consensus estimate of $1.60 by $0.05. Minerals Technologies had a return on equity of 11.46% and a net margin of 4.05%. The business had revenue of $541.20 million for the quarter, compared to the consensus estimate of $561.60 million. During the same period in the previous year, the business earned $1.31 earnings per share. The business’s revenue was down 1.9% on a year-over-year basis. On average, sell-side analysts forecast that Minerals Technologies Inc. will post 6.22 earnings per share for the current fiscal year.

Minerals Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, October 31st will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.55%. This is an increase from Minerals Technologies’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Thursday, October 31st. Minerals Technologies’s dividend payout ratio is presently 13.84%.

Minerals Technologies 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.