PNC Financial Services Group Inc. Sells 395 Shares of Minerals Technologies Inc. (NYSE:MTX)

PNC Financial Services Group Inc. lowered its stake in shares of Minerals Technologies Inc. (NYSE:MTX) by 9.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,780 shares of the basic materials company’s stock after selling 395 shares during the period. PNC Financial Services Group Inc.’s holdings in Minerals Technologies were worth $288,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of MTX. Smartleaf Asset Management LLC boosted its stake in Minerals Technologies by 181.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 506 shares of the basic materials company’s stock worth $38,000 after acquiring an additional 326 shares during the last quarter. Blue Trust Inc. raised its holdings in Minerals Technologies by 21.4% in the fourth quarter. Blue Trust Inc. now owns 1,009 shares of the basic materials company’s stock worth $78,000 after purchasing an additional 178 shares during the period. Venturi Wealth Management LLC bought a new position in shares of Minerals Technologies during the fourth quarter worth $78,000. KBC Group NV grew its holdings in shares of Minerals Technologies by 43.9% in the 4th quarter. KBC Group NV now owns 1,478 shares of the basic materials company’s stock valued at $113,000 after buying an additional 451 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of Minerals Technologies in the 4th quarter valued at $145,000. 97.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Truist Financial cut their price objective on Minerals Technologies from $103.00 to $101.00 and set a “buy” rating on the stock in a report on Monday, February 10th. StockNews.com downgraded shares of Minerals Technologies from a “buy” rating to a “hold” rating in a report on Wednesday.

Minerals Technologies Trading Down 3.0 %

NYSE MTX opened at $65.13 on Friday. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 12.57 and a beta of 1.28. Minerals Technologies Inc. has a 52 week low of $64.30 and a 52 week high of $90.30. The stock’s 50 day moving average price is $71.92 and its two-hundred day moving average price is $75.37. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.98 and a current ratio of 2.84.

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

Minerals Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 14th were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.44 annualized dividend and a yield of 0.68%. Minerals Technologies’s dividend payout ratio (DPR) is presently 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.