KBC Group NV Boosts Stock Holdings in Minerals Technologies Inc. (NYSE:MTX)

KBC Group NV grew its stake in shares of Minerals Technologies Inc. (NYSE:MTX) by 43.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,478 shares of the basic materials company’s stock after purchasing an additional 451 shares during the quarter. KBC Group NV’s holdings in Minerals Technologies were worth $113,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp grew its stake in shares of Minerals Technologies by 2.6% in the third quarter. State Street Corp now owns 1,268,792 shares of the basic materials company’s stock worth $97,989,000 after purchasing an additional 32,196 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Minerals Technologies by 9.7% during the third quarter. JPMorgan Chase & Co. now owns 115,887 shares of the basic materials company’s stock valued at $8,950,000 after buying an additional 10,284 shares during the period. Franklin Resources Inc. raised its holdings in shares of Minerals Technologies by 21.1% during the third quarter. Franklin Resources Inc. now owns 47,847 shares of the basic materials company’s stock valued at $3,728,000 after acquiring an additional 8,335 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in Minerals Technologies by 42.2% in the third quarter. Thrivent Financial for Lutherans now owns 64,110 shares of the basic materials company’s stock worth $4,951,000 after acquiring an additional 19,037 shares during the period. Finally, Verition Fund Management LLC boosted its holdings in Minerals Technologies by 161.2% in the third quarter. Verition Fund Management LLC now owns 10,332 shares of the basic materials company’s stock valued at $798,000 after acquiring an additional 6,377 shares in the last quarter. 97.29% of the stock is owned by institutional investors.

Minerals Technologies Trading Down 3.0 %

NYSE:MTX opened at $73.92 on Friday. The company’s 50 day moving average price is $76.95 and its 200-day moving average price is $76.87. The company has a quick ratio of 1.72, a current ratio of 2.46 and a debt-to-equity ratio of 0.51. Minerals Technologies Inc. has a 52 week low of $67.92 and a 52 week high of $90.29. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of 15.66 and a beta of 1.30.

Minerals Technologies (NYSE:MTX) last announced its quarterly earnings results on Thursday, February 6th. The basic materials company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.11. Minerals Technologies had a return on equity of 11.27% and a net margin of 7.20%. On average, equities research analysts forecast that Minerals Technologies Inc. will post 6.05 earnings per share for the current fiscal year.

Minerals Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.60%. The ex-dividend date is Friday, February 14th. Minerals Technologies’s payout ratio is currently 8.49%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. StockNews.com raised Minerals Technologies from a “hold” rating to a “buy” rating in a research report on Thursday. Truist Financial started coverage on Minerals Technologies in a report on Tuesday, January 28th. They issued a “buy” rating and a $103.00 price objective for the company.

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.