Intech Investment Management LLC Makes New $441,000 Investment in Minerals Technologies Inc. (NYSE:MTX)

Intech Investment Management LLC purchased a new stake in shares of Minerals Technologies Inc. (NYSE:MTX) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 5,705 shares of the basic materials company’s stock, valued at approximately $441,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Diversified Trust Co lifted its holdings in shares of Minerals Technologies by 4.0% during the third quarter. Diversified Trust Co now owns 10,933 shares of the basic materials company’s stock valued at $844,000 after purchasing an additional 419 shares during the last quarter. Summit Global Investments increased its holdings in Minerals Technologies by 2.6% in the 2nd quarter. Summit Global Investments now owns 18,799 shares of the basic materials company’s stock worth $1,563,000 after acquiring an additional 480 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Minerals Technologies by 3.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,522 shares of the basic materials company’s stock valued at $1,457,000 after purchasing an additional 526 shares during the period. CWM LLC lifted its position in shares of Minerals Technologies by 40.6% in the third quarter. CWM LLC now owns 1,870 shares of the basic materials company’s stock valued at $144,000 after acquiring an additional 540 shares in the last quarter. Finally, Picton Mahoney Asset Management bought a new position in Minerals Technologies in the 2nd quarter worth approximately $52,000. Hedge funds and other institutional investors own 97.29% of the company’s stock.

Minerals Technologies Price Performance

NYSE:MTX opened at $83.14 on Tuesday. The firm has a market capitalization of $2.65 billion, a price-to-earnings ratio of 17.61 and a beta of 1.31. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.46 and a quick ratio of 1.72. The business has a 50 day simple moving average of $78.62 and a 200-day simple moving average of $79.23. Minerals Technologies Inc. has a 1 year low of $62.49 and a 1 year high of $90.29.

Minerals Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, October 31st will be paid a $0.11 dividend. The ex-dividend date is Thursday, October 31st. This represents a $0.44 annualized dividend and a dividend yield of 0.53%. This is an increase from Minerals Technologies’s previous quarterly dividend of $0.10. Minerals Technologies’s dividend payout ratio is currently 9.32%.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Minerals Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th.

About Minerals Technologies

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.