Bank of New York Mellon Corp Decreases Stock Holdings in Minerals Technologies Inc. (NYSE:MTX)

Bank of New York Mellon Corp decreased its holdings in Minerals Technologies Inc. (NYSE:MTX) by 1.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 288,688 shares of the basic materials company’s stock after selling 3,268 shares during the quarter. Bank of New York Mellon Corp owned 0.91% of Minerals Technologies worth $22,001,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of MTX. Blue Trust Inc. grew its stake in shares of Minerals Technologies by 21.4% during the 4th quarter. Blue Trust Inc. now owns 1,009 shares of the basic materials company’s stock valued at $78,000 after purchasing an additional 178 shares during the period. Venturi Wealth Management LLC bought a new stake in shares of Minerals Technologies during the 4th quarter valued at about $78,000. KBC Group NV grew its stake in shares of Minerals Technologies by 43.9% during the 4th quarter. KBC Group NV now owns 1,478 shares of the basic materials company’s stock valued at $113,000 after purchasing an additional 451 shares during the period. SG Americas Securities LLC bought a new stake in shares of Minerals Technologies during the 4th quarter valued at about $145,000. Finally, Paloma Partners Management Co bought a new stake in shares of Minerals Technologies during the 3rd quarter valued at about $214,000. Hedge funds and other institutional investors own 97.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. StockNews.com downgraded Minerals Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Truist Financial cut their price target on Minerals Technologies from $103.00 to $101.00 and set a “buy” rating for the company in a research note on Monday, February 10th.

Minerals Technologies Trading Down 1.5 %

Shares of NYSE:MTX opened at $66.81 on Tuesday. The stock has a 50 day moving average of $73.22 and a 200 day moving average of $75.94. The company has a market cap of $2.13 billion, a PE ratio of 12.90 and a beta of 1.28. The company has a current ratio of 2.84, a quick ratio of 1.98 and a debt-to-equity ratio of 0.54. Minerals Technologies Inc. has a 12-month low of $66.33 and a 12-month high of $90.29.

Minerals Technologies (NYSE:MTX) last announced its quarterly earnings data 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 11.49% and a net margin of 7.89%. As a group, equities research analysts expect that Minerals Technologies Inc. will post 6.62 EPS for the current year.

Minerals Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 14th were paid a dividend of $0.11 per share. The ex-dividend date was Friday, February 14th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.66%. Minerals Technologies’s dividend payout ratio (DPR) is presently 8.49%.

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.