Minerals Technologies Inc. (NYSE:MTX) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lessened its stake in Minerals Technologies Inc. (NYSE:MTX) by 11.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 37,309 shares of the basic materials company’s stock after selling 4,911 shares during the period. New York State Teachers Retirement System owned 0.12% of Minerals Technologies worth $2,843,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Legato Capital Management LLC acquired a new position in Minerals Technologies in the 4th quarter valued at about $1,725,000. Allspring Global Investments Holdings LLC increased its position in Minerals Technologies by 1.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 511,205 shares of the basic materials company’s stock worth $38,330,000 after purchasing an additional 7,488 shares during the period. Savant Capital LLC increased its position in Minerals Technologies by 7.4% during the 4th quarter. Savant Capital LLC now owns 3,783 shares of the basic materials company’s stock worth $288,000 after purchasing an additional 260 shares during the period. Guidance Capital Inc. acquired a new position in Minerals Technologies during the 4th quarter worth approximately $462,000. Finally, KBC Group NV increased its position in Minerals Technologies by 43.9% during the 4th quarter. KBC Group NV now owns 1,478 shares of the basic materials company’s stock worth $113,000 after purchasing an additional 451 shares during the period. Institutional investors and hedge funds own 97.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on MTX shares. StockNews.com upgraded Minerals Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. Truist Financial dropped their target price on Minerals Technologies from $103.00 to $101.00 and set a “buy” rating on the stock in a research report on Monday, February 10th.

Minerals Technologies Price Performance

Shares of NYSE:MTX opened at $69.94 on Friday. The business’s 50 day simple moving average is $75.27 and its 200-day simple moving average is $76.22. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of 13.50 and a beta of 1.30. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.84 and a quick ratio of 1.98. Minerals Technologies Inc. has a 12 month low of $69.43 and a 12 month high of $90.29.

Minerals Technologies (NYSE:MTX) last announced its quarterly earnings results on Thursday, February 6th. The basic materials company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.39 by $0.11. Minerals Technologies had a return on equity of 11.49% and a net margin of 7.89%. As a group, equities analysts forecast that Minerals Technologies Inc. will post 6.62 earnings per share for the current fiscal year.

Minerals Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend is Friday, February 14th. Minerals Technologies’s dividend payout ratio (DPR) is 8.49%.

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.