Aristides Capital LLC Lowers Stock Position in Minerals Technologies Inc. (NYSE:MTX)

Aristides Capital LLC decreased its holdings in Minerals Technologies Inc. (NYSE:MTX) by 7.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,259 shares of the basic materials company’s stock after selling 252 shares during the quarter. Aristides Capital LLC’s holdings in Minerals Technologies were worth $271,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in MTX. Parallel Advisors LLC grew its holdings in shares of Minerals Technologies by 97.9% during the 4th quarter. Parallel Advisors LLC now owns 556 shares of the basic materials company’s stock worth $40,000 after purchasing an additional 275 shares during the period. Picton Mahoney Asset Management bought a new stake in shares of Minerals Technologies in the 2nd quarter worth approximately $52,000. Innealta Capital LLC acquired a new position in shares of Minerals Technologies during the second quarter valued at $76,000. Quarry LP grew its position in Minerals Technologies by 1,857.4% in the 2nd quarter. Quarry LP now owns 920 shares of the basic materials company’s stock worth $77,000 after purchasing an additional 873 shares during the last quarter. Finally, Fidelis Capital Partners LLC bought a new position in Minerals Technologies in the 1st quarter worth approximately $77,000. Hedge funds and other institutional investors own 97.29% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Minerals Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, September 25th.

Minerals Technologies Price Performance

NYSE MTX opened at $77.23 on Tuesday. Minerals Technologies Inc. has a fifty-two week low of $48.61 and a fifty-two week high of $90.29. The stock’s 50-day moving average is $74.92 and its two-hundred day moving average is $77.89. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.46 and a quick ratio of 1.72. The firm has a market cap of $2.49 billion, a P/E ratio of 26.72 and a beta of 1.30.

Minerals Technologies (NYSE:MTX) last posted its earnings results on Thursday, July 25th. The basic materials company reported $1.65 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.05. Minerals Technologies had a net margin of 4.05% and a return on equity of 11.46%. The business had revenue of $541.20 million for the quarter, compared to analysts’ expectations of $561.60 million. During the same quarter in the previous year, the firm posted $1.31 earnings per share. The firm’s revenue for the quarter was down 1.9% on a year-over-year basis. On average, analysts anticipate that Minerals Technologies Inc. will post 6.22 earnings per share for the current fiscal year.

Minerals Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 16th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.52%. The ex-dividend date was Friday, August 16th. Minerals Technologies’s payout ratio is presently 13.84%.

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.